The New America High Income Fund, Inc. Update on Timing of Reorganization
The New America High Income Fund (NYSE: HYB) has announced a delay in its planned reorganization into the T. Rowe Price High Yield Fund. The reorganization, which was initially scheduled to close after market hours on February 21, 2025, will now take place on a date to be mutually agreed upon by the parties involved, subject to customary closing conditions. Upon completion of the reorganization, current HYB shareholders will receive Investor Class shares of the T. Rowe Price Fund.
Il New America High Income Fund (NYSE: HYB) ha annunciato un ritardo nella sua prevista riorganizzazione nel T. Rowe Price High Yield Fund. La riorganizzazione, inizialmente programmata per chiudere dopo l'orario di mercato il 21 febbraio 2025, avverrà ora in una data che sarà concordata reciprocamente dalle parti coinvolte, soggetta alle consuete condizioni di chiusura. Al termine della riorganizzazione, gli attuali azionisti di HYB riceveranno azioni di Classe Investitore del T. Rowe Price Fund.
El New America High Income Fund (NYSE: HYB) ha anunciado un retraso en su reorganización planificada hacia el T. Rowe Price High Yield Fund. La reorganización, que inicialmente estaba programada para cerrarse después del horario del mercado el 21 de febrero de 2025, ahora tendrá lugar en una fecha que será acordada mutuamente por las partes involucradas, sujeta a las condiciones de cierre habituales. Una vez completada la reorganización, los actuales accionistas de HYB recibirán acciones de Clase Inversor del T. Rowe Price Fund.
뉴 아메리카 하이 인컴 펀드(NYSE: HYB)가 T. 로우 프라이스 하이 일드 펀드로의 예정된 재편성에 대한 지연을 발표했습니다. 재편성은 원래 2025년 2월 21일 시장 종료 후에 마감될 예정이었으나, 이제 관련 당사자 간에 상호 합의된 날짜에 진행될 예정이며, 일반적인 종료 조건에 따릅니다. 재편성이 완료되면 현재 HYB 주주들은 T. 로우 프라이스 펀드의 투자자 클래스 주식을 받게 됩니다.
Le New America High Income Fund (NYSE: HYB) a annoncé un retard dans sa réorganisation prévue en T. Rowe Price High Yield Fund. La réorganisation, qui devait initialement se clôturer après les heures de marché le 21 février 2025, aura désormais lieu à une date qui sera convenue d'un commun accord par les parties concernées, sous réserve des conditions de clôture habituelles. Une fois la réorganisation terminée, les actionnaires actuels de HYB recevront des actions de Classe Investisseur du T. Rowe Price Fund.
Der New America High Income Fund (NYSE: HYB) hat eine Verzögerung bei der geplanten Umstrukturierung in den T. Rowe Price High Yield Fund angekündigt. Die Umstrukturierung, die ursprünglich nach Handelsschluss am 21. Februar 2025 abgeschlossen werden sollte, wird nun an einem von den beteiligten Parteien einvernehmlich vereinbarten Datum stattfinden, vorbehaltlich der üblichen Abschlussbedingungen. Nach Abschluss der Umstrukturierung erhalten die aktuellen HYB-Aktionäre Anteile der Investor-Klasse des T. Rowe Price Fund.
- Shareholders will receive Investor Class shares in T. Rowe Price High Yield Fund
- Delay in planned reorganization from initial February 21, 2025 date
- Uncertainty about new closing timeline
BOSTON, Feb. 21, 2025 (GLOBE NEWSWIRE) -- The New America High Income Fund, Inc. (the “Fund”) (NYSE: HYB) announced today that the reorganization of the Fund into the T. Rowe Price High Yield Fund (the “T. Rowe Price Fund”), a separate series of the T. Rowe Price High Yield Fund, Inc. (the “Reorganization”), initially expected to close following the close of business of the New York Stock Exchange on Friday, February 21, 2025, is now expected to close on a mutually agreed upon date in writing by the parties, subject to satisfaction of customary closing conditions. Upon the closing of the Reorganization, shareholders of the Fund will become holders of Investor Class shares of the T. Rowe Price Fund.
About the Fund
The New America High Income Fund, Inc. is a diversified, closed-end management investment company with a leveraged capital structure. The Fund’s investment adviser is T. Rowe Price Associates, Inc. (“T. Rowe Price”). As of January 31, 2025, T. Rowe Price and its affiliates managed approximately
This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of the Fund or the T. Rowe Price Fund. Additional information about the Fund and the T. Rowe Price Fund, including performance and portfolio characteristic information, is available at www.newamerica-hyb.com or www.troweprice.com, respectively.
Statements in this press release that are not historical facts may be forward-looking statements, as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that may be beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.
Contact:
Ellen E. Terry, President
Telephone: 617-263-6400
www.newamerica-hyb.com
FAQ
When will the HYB Fund reorganization into T. Rowe Price High Yield Fund be completed?
What shares will HYB shareholders receive after the reorganization?
What is causing the delay in HYB Fund's reorganization?
What was the original closing date for HYB Fund's reorganization?
