First Trust Announces Completion of Mergers
First Trust Advisors L.P. (“FTA”) announced today that the mergers of First Trust Energy Income and Growth Fund (NYSE American: FEN), First Trust MLP and Energy Income Fund (NYSE: FEI), First Trust New Opportunities MLP & Energy Fund (NYSE: FPL), and First Trust Energy Infrastructure Fund (NYSE: FIF) (the “Target Funds” or each, individually, a “Target Fund”), into FT Energy Income Partners Enhanced Income ETF (NYSE Arca: EIPI), were successfully completed prior to the opening of the NYSE Arca on May 6, 2024.
- First Trust Advisors L.P. (“FTA”) announced today that the mergers of First Trust Energy Income and Growth Fund (NYSE American: FEN), First Trust MLP and Energy Income Fund (NYSE: FEI), First Trust New Opportunities MLP & Energy Fund (NYSE: FPL), and First Trust Energy Infrastructure Fund (NYSE: FIF) (the “Target Funds” or each, individually, a “Target Fund”), into FT Energy Income Partners Enhanced Income ETF (NYSE Arca: EIPI), were successfully completed prior to the opening of the NYSE Arca on May 6, 2024.
- Through the mergers, wholly-owned subsidiaries of EIPI acquired all of the assets and liabilities of the Target Funds in tax-free transactions, and shares of each Target Fund were converted to newly-issued shares of EIPI in an aggregate amount equal to the value of the net assets of each Target Fund.
- The transactions took place based upon the Target Funds’ closing net asset values on May 3, 2024.
- The exchange ratios at which shares of the Target Funds were converted to shares of EIPI are listed below: