ATLANTA, Dec. 11,
2024 /PRNewswire/ -- 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.
Invesco Pennsylvania Value Municipal Income Trust conducted a
tender offer for cash of up to 5,957,386 of the Fund's Common
Shares, representing twenty five percent of its Common Shares.
Based on calculations by the Agent, approximately
8,073,690 Common Shares, or approximately 33.9% of the Fund's
Common Shares outstanding, were tendered through the Expiration
Date. The Fund has accepted 5,957,386 shares (subject to
adjustment for fractional shares) for cash payment at a price equal
to $11.69 per share. This purchase
price is 99% of the Fund's net asset value ("NAV") per share of
$11.81 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 number of shares tendered exceeded
the number of Common Shares offered to purchase, all tendered
Common Shares are subject to pro-ration in accordance with the
terms of the Offer to Purchase. Under final proration, 73.79% 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 17,872,158 Common
Shares outstanding.
For investor inquiries, call 1-800-341-2929.
For media relations inquiries contact
mediarelations@invesco.com
This communication is not intended to, and shall not,
constitute an offer to purchase or sell shares of any of the
Invesco Funds, including either Fund.
About Invesco Ltd.
Invesco Ltd. Is a global
independent investment management firm dedicated to delivering an
investment experience that helps people get more out of life. Our
distinctive investment teams deliver a comprehensive range of
active, passive and alternative investment capabilities. With
offices in more than 20 countries, Invesco managed $1.8 trillion in assets on behalf of clients
worldwide as of September 30, 2024.
For more information, visit www.invesco.com.
Invesco Distributors, Inc. is the U.S. distributor for Invesco
Ltd.'s retail products. Invesco Advisers, Inc. is an investment
adviser; it provides investment advisory services to individual and
institutional clients and does not sell securities. Each entity is
a wholly owned, indirect subsidiary of Invesco Ltd.
Note: There is no assurance that a closed-end fund will
achieve its investment objective. Common shares are bought on the
secondary market and may trade at a discount or premium to NAV.
Regular brokerage commissions apply.
NOT A DEPOSIT | NOT FDIC INSURED l MAY
LOSE VALUE l NO BANK GUARANTEE | NOT
INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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SOURCE Invesco Ltd.