BlackRock Advisors, LLC today announced the reorganization of
BlackRock MuniYield New Jersey Fund, Inc. (NYSE: MYJ) with and into
BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE: MUJ and
together with MYJ, the “Funds,” and each, a “Fund”) (the
“Reorganization”) is effective as of the opening for business of
the New York Stock Exchange on Monday, April 11, 2022.
In the Reorganization, common shareholders of MYJ received an
amount of MUJ common shares equal to the aggregate net asset value
of their holdings of MYJ common shares as determined at the close
of business on April 8, 2022. Fractional shares of MUJ common
shares were not issued in the Reorganization and consequently cash
will be distributed for any such fractional shares.
Relevant details pertaining to the Reorganization are as
follows:
Fund
Ticker
Net Asset
Value/Share
($)
Share
Conversion Ratio
BlackRock MuniHoldings New Jersey
Quality Fund, Inc.
MUJ
13.8850
-
BlackRock MuniYield New Jersey
Fund, Inc.
MYJ
14.0359
1.01086784
In addition, MYJ preferred shareholders received on a
one-for-one basis MUJ preferred shares in an amount equal to the
aggregate preferred share liquidation preference held by MYJ
preferred shareholders immediately prior to the Reorganization.
This communication is not intended to, and shall not, constitute
an offer to purchase or sell shares of any of the BlackRock funds,
including MUJ, the surviving fund in the Reorganization. Investors
should consider MUJ’s investment objective, risks, charges and
expenses carefully and consider in its entirety the Joint Proxy
Statement/Prospectus relating to the Reorganization, which contains
important information regarding the investment objectives and
policies, risks, charges, expenses and other important information
about MUJ.
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com | Twitter: @blackrock |
Blog: www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock
Availability of Fund Updates
BlackRock will update performance and certain other data for the
BlackRock closed-end funds on a monthly basis on its website in the
“Closed-end Funds” section of www.blackrock.com as well as certain
other material information as necessary from time to time.
Investors and others are advised to check the website for updated
performance information and the release of other material
information about the Funds. This reference to BlackRock’s website
is intended to allow investors public access to information
regarding the Funds and does not, and is not intended to,
incorporate BlackRock’s website in this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or the
Funds may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the Funds’ or BlackRock’s future financial or business
performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as “trend,”
“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to the Funds, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for the Funds or
in the Funds’ net asset value; (2) the relative and absolute
investment performance of the Funds and its investments; (3) the
impact of increased competition; (4) the unfavorable resolution of
any legal proceedings; (5) the extent and timing of any
distributions or share repurchases; (6) the impact, extent and
timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall
Street Reform and Consumer Protection Act, and regulatory,
supervisory or enforcement actions of government agencies relating
to the Funds or BlackRock, as applicable; (8) terrorist activities,
international hostilities, health epidemics and/or pandemics and
natural disasters, which may adversely affect the general economy,
domestic and local financial and capital markets, specific
industries or BlackRock; (9) BlackRock’s ability to attract and
retain highly talented professionals; (10) the impact of BlackRock
electing to provide support to its products from time to time; and
(11) the impact of problems at other financial institutions or the
failure or negative performance of products at other financial
institutions.
Annual and Semi-Annual Reports and other regulatory filings of
the Funds with the SEC are accessible on the SEC's website at
www.sec.gov and on BlackRock’s website at
www.blackrock.com, and may discuss these or other factors
that affect the Funds. The information contained on BlackRock’s
website is not a part of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220411005248/en/
BlackRock Closed-End Funds 1-800-882-0052
Grafico Azioni BlackRock MuniHoldings N... (NYSE:MUJ)
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Grafico Azioni BlackRock MuniHoldings N... (NYSE:MUJ)
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