The Board of Trustees of abrdn Income Credit Strategies Fund (NYSE:ACP) (“ACP” or the “Acquiring Fund”), previously announced that shareholders of First Trust/abrdn Global Opportunity Income Fund (NYSE:FAM) (“FAM” or the “Acquired Fund”), advised by First Trust Advisors L.P., have approved the proposed reorganization into ACP (“Reorganization”) and announces that the Reorganization is expected to close at the close of business on September 20, 2024, or as soon as practicable thereafter, subject to the satisfaction of customary closing conditions. To facilitate the Reorganization, it is expected that all shares of FAM will cease trading on the New York Stock Exchange as of the market close on September 20, 2024, and FAM shareholders will be issued newly issued shares of ACP. The Reorganization will occur based on the relative net asset values of the common shares of FAM, with a value equal to the aggregate net asset value of the shares of FAM held by them. The Reorganization will occur based on the relative net asset values of the common shares of FAM. As of August 21, 2024, the combined net assets of ACP following the Reorganization will be approximately $845 million.
FT/abrdn Glbl Opp Incm Fd
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