Nuveen Municipal Credit Opportunities Fund (NYSE: NMCO) announced preliminary rights offering results, with expected gross proceeds of approximately $113 million.
The offering expired on October 7, 2026. Approximately 13.7 million common shares are expected to be issued, including notices of guaranteed delivery. The subscription price was $8.25 per share, equal to 90% of net asset value per share at the close of NYSE trading on the expiration date. Shares are expected to be issued on or about October 15, 2026, after completion and receipt of all shareholder payments. The final subscription price was below the original estimate; excess payments will be returned to subscribing rights holders as soon as practicable.
Nuveen Municipal Credit Opportunities Fund (NMCO) declared its regular monthly distribution of $0.0685 per common share, with a record and ex-dividend date of October 1, 2026 and a payable date of November 2, 2026.
The fund maintains a policy of making regular monthly cash distributions and may, in some periods, pay more or less than its net investment income, potentially including realized gains and/or return of capital. It is currently estimated that the fund has distributed more than its net investment income, so a portion of the distribution may be return of capital. A previously announced transferable Rights offering to common shareholders of record as of September 8, 2026 expires on October 7, 2026, and any shares issued in that offering will not receive the November 2, 2026 distribution.
Nuveen Municipal Credit Opportunities Fund (NYSE: NMCO) approved terms for a transferable rights offering to holders of common shares as of September 8, 2026. Each record date shareholder will receive one Right per share and may purchase one new common share for every four Rights (1-for-4).
The subscription price will be 95% of the five-day average market price before the October 7, 2026 expiration, but not below 90% of net asset value. Rights are expected to trade on the NYSE as “NMCO RTWI” (when-issued from September 4, 2026) and “NMCO RT” (regular from about September 10, 2026) until October 6, 2026. The advisor will bear all offering expenses, and record date shareholders who fully exercise Rights may request additional shares via an over-subscription privilege, subject to allocation limits.