The Fund announced the results of the special meeting of shareholders of First Trust Senior Floating Rate Income Fund II held on June 25, 2026.
Shareholders of FCT, have approved the reorganization of FCT with and into First Trust Flexible Income ETF, a newly formed series of First Trust Exchange-Traded Fund VIII (“FFLX”). Subject to the satisfaction of certain customary closing conditions, the reorganization of FCT into FFLX is expected to close on August 10, 2026, or as soon as practicable thereafter. Upon the completion of the reorganization, which is expected to be tax-free, the assets of FCT will be transferred to, and the liabilities of FCT will be assumed by, FFLX. The shareholders of FCT will receive shares of FFLX with a value equal to the aggregate net asset value of the shares of FCT held by them.
In anticipation of the reorganization of FCT into FFLX, FCT will begin to transition its portfolio, which will involve holding increased levels of cash or cash equivalents. As a result, FCT may not be fully invested in accordance with its principal investment strategy during this period. This may affect FCT’s performance and could result in returns that differ from those that would be expected if FCT were fully invested in accordance with its principal investment strategy.