Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), announced today the final results of the tender offers for Invesco Trust for Investment Grade New York Municipals (NYSE: VTN) and Invesco Pennsylvania Value Municipal Income Trust (NYSE: VPV) (each, a “Fund” and collectively, the “Funds”). Each tender offer expired at 11:59 p.m., New York City time, on Monday, December 9, 2024 (the “Expiration Date”).
Invesco Trust for Investment Grade New York Municipals conducted a tender offer for cash of up to 4,869,438 of the Fund’s outstanding common shares of beneficial interest (“Common Shares”), representing twenty five percent of its Common Shares. Based on calculations by Computershare Trust Company, N.A., the depositary agent (the “Agent”) for the Fund’s tender offer, approximately 6,818,415 Common Shares, or approximately 35% of the Fund’s Common Shares outstanding, were tendered through the Expiration Date. The Fund has accepted 4,869,438 shares (subject to adjustment for fractional shares) for cash payment at a price equal to $11.87 per share. This purchase price is 99% of the Fund’s net asset value (“NAV”) per share of $11.99 as of the close of regular trading on the New York Stock Exchange (“NYSE”) on December 10, 2024, the pricing date stated in the Offer to Purchase. Because the total number of Common Shares tendered exceeded the number of Common Shares offered to purchase, all tendered Common Shares are subject to proration in accordance with the terms of the Offer to Purchase. Under final pro-ration, 71.42% of the Common Shares tendered will be accepted for payment, subject to adjustment for fractional shares. Following the purchase of the tendered shares, the Fund will have approximately 14,608,315 Common Shares outstanding.