Each of the Nuveen Mortgage Opportunity Term Fund (NYSE: JLS) and the Nuveen Mortgage Opportunity Term Fund 2 (NYSE: JMT) announced the preliminary results of a tender offer.

As previously announced, each fund conducted a tender offer allowing shareholders to offer their common shares for repurchase for cash at a price per share equal to 100 percent of the net asset value per share determined on the date the tender offer expired. The tender offers expired on October 7, 2019 at 5:00 p.m. Eastern time.

Based on preliminary information, 10,262,375 common shares of JLS were tendered, representing approximately 64.6 percent of the fund’s common shares outstanding, and 3,407,929 common shares of JMT were tendered, representing approximately 69.8 percent of the fund’s common shares outstanding.

The fund currently expects to announce the final results of the tender offer on October 11, 2019.