Form 25: NYSE Notifies Delisting of Pioneer Municipal High Income Advantage Fund (MAV)
Rhea-AI Filing Summary
Pioneer Municipal High Income Advantage Fund, Inc. (MAV) is the subject of a Form 25 filing by the New York Stock Exchange LLC notifying the removal of a class of the issuer's securities from listing and/or registration under Section 12(b) of the Securities Exchange Act of 1934. The Exchange certifies it has reasonable grounds and states compliance with the applicable Exchange rules and with 17 CFR 240.12d2-2(b) and 17 CFR 240.12d2-2(c). The provided document identifies the issuer and exchange but does not include a signature, date, or an effective removal date.
Positive
- Exchange certification of procedural compliance under 17 CFR 240.12d2-2(b)/(c) is explicitly stated
Negative
- Document omits key execution details: no signature, date, or effective removal date provided
- No class of securities description is included in the provided text to identify what exactly is being removed
Insights
TL;DR: Routine exchange notice of removal with limited detail; material timing and rationale are missing.
The filing is a formal exchange-initiated notification to delist a class of securities for Pioneer Municipal High Income Advantage Fund, Inc., citing regulatory provisions. From a governance perspective, Form 25 is procedural but material to shareholders because delisting can affect liquidity and reporting status. This document lacks key execution details such as the effective date, signatures, and the class description, which prevents full assessment of corporate or shareholder impact.
TL;DR: Procedural delisting notice; insufficient data here to evaluate market impact or reasons.
The Exchange certifies compliance with 17 CFR 240.12d2-2 provisions for removal or voluntary withdrawal. For analysts, the notice signals a change in listing status but provides no trading-cessation timing, rationale, or financial metrics. Without the effective date or accompanying Form 25 attachments, one cannot quantify effects on trading liquidity or investor access to the security.