PIMCO Closed-End Funds Announce Proposed Reorganizations
April 29, 2021 22:09 ET
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PIMCO Account Management
PIMCO Account Management
Newport Beach, California, UNITED STATES
NEW YORK, April 29, 2021 (GLOBE NEWSWIRE) -- PIMCO, one of the world’s premier fixed income investment managers, has announced that the Board of Trustees of each of PIMCO Dynamic Credit & Mortgage Income Fund (“PCI”) (NYSE: PCI), PIMCO Income Opportunity Fund (“PKO”) (NYSE: PKO) and PIMCO Dynamic Income Fund (“PDI”) (NYSE: PDI) has approved proposals to reorganize each of PCI and PKO (each, an “Acquired Fund”) into PDI, subject to the various shareholder approvals and other contingencies described below.
Each Acquired Fund’s reorganization is subject to approval by PDI shareholders to issue additional common shares (the “Merger Shares”) to be distributed to the Acquired Fund’s shareholders. In addition, the reorganization of PKO into PDI (the “PKO Merger”) is subject to approval by PKO’s shareholders and contingent on the consummation of the reorganization of PCI into PDI. Shareholders of PDI and PKO will be asked to vote on the applicable proposals at a Special Meeting of Shareholders expected to take place on or about July 28, 2021 at a time and location to be stated in the proxy statement/prospectus (the “Shareholder Meeting”). A proxy statement/prospectus containing information about the meeting and the proposed reorganizations is expected to be mailed to PDI’s and each Acquired Fund’s common shareholders of record as of June 10, 2021. No action is needed from shareholders of PCI.