Nuveen Fund Advisors, LLC announced a rights offering for shareholders of the Nuveen Municipal Credit Opportunities Fund (NYSE: NMCO), with the Board of Directors approving the capital-raising initiative to support investment opportunities aligned with the fund’s tax-free income and total return objectives.
Shareholders will receive one right for each common share held as of the record date of September 8, 2026. Each set of four rights will allow holders to subscribe for one new common share at a subscription price set at 95% of the average closing price over the five trading sessions ending October 7, 2026, with a minimum floor of 90% of the fund’s net asset value. The rights will trade on a "when issued" basis starting September 4 under the symbol NMCO RTWI, transitioning to regular trading around September 10 under NMCO RT, and expire on October 7.
The offering excludes common shares issued through the rights subscription from receiving the October 1 and November 2 monthly distributions, though they remain eligible for the December 1 payout. Fully participating registered shareholders may subscribe for additional shares beyond the initial allocation if demand from other rights holders is insufficient, while secondary market purchasers of rights do not qualify for this privilege.
Nuveen Fund Advisors will cover all expenses related to the offering. As of June 30, 2026, the fund manager oversees $54 billion in assets across 37 closed-end funds, including NMCO, which focuses on municipal credit opportunities.
