Angel Oak Capital Advisors announced the completion of the reorganization of Angel Oak Dynamic Financial Strategies Income Term Trust (DYFN) into Angel Oak Financial Strategies Income Term Trust (FINS) as of July 29, 2022. This move aims to offer shareholders benefits such as lower operating expenses and better market liquidity. FINS now has approximately $409 million in net assets and $589 million in total assets, with the issuance of around 4.76 million new common shares. Investment strategies for FINS remain unchanged, focusing on U.S. financial sector debt.
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The Boards of Trustees of Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) and Angel Oak Dynamic Financial Strategies Income Term Trust (NYSE: DYFN) have approved a reorganization proposal to merge DYFN into FINS. This move aims to lower operating expenses and enhance liquidity for shareholders. The reorganization, expected to finalize in the second half of 2022, requires shareholder approval and regulatory compliance. The investment strategies of FINS will remain unchanged post-merger.
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