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[8-K] Saba Capital Income & Opportunities Fund II Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Saba Capital Income & Opportunities Fund and Saba Capital Income & Opportunities Fund II have decided not to move forward with their planned reorganization. The Boards of each fund terminated the previously approved combination based on management’s recommendation, citing current market conditions. Both funds’ previously approved share repurchase programs will remain in effect, so each fund can continue buying back its own shares under those existing authorizations.

Positive

  • None.

Negative

  • None.

Insights

Two Saba funds dropped a planned reorganization, keeping existing buyback plans in place.

The Boards of Saba Capital Income & Opportunities Fund and Saba Capital Income & Opportunities Fund II ended a previously approved reorganization after management cited current market conditions. This means each closed-end fund will continue to operate separately instead of combining.

Both funds are keeping their previously approved share repurchase programs. These programs allow the funds to buy back shares in the market under preset authorizations. The filing does not quantify expected activity, so the practical impact will depend on how actively each fund uses its repurchase authority.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Understanding 8-K Material Events →
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): March 24, 2026

 

Saba Capital Income & Opportunities Fund II

(Exact name of registrant as specified in its charter)

 

Delaware

  

811-05459

  

22-2864496

(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)
 

405 Lexington Avenue, 58th Floor
New York, New York 10174

(Address of principal executive offices) (Zip Code)

 

(Registrant’s telephone number, including area code): (212) 542-4635

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol Name of each exchange on which registered
Common Shares, without par value SABA New York Stock Exchange

 

false

 

 

Item 8.01. Other Events

 

Saba Capital Income & Opportunities Fund (NYSE: BRW) (“BRW”) and Saba Capital Income & Opportunities Fund II (NYSE: SABA) (“SABA”) today announced that the previously approved reorganization of BRW and SABA has been terminated, with plans to reevaluate alternatives in the future. Each fund Board’s determination to no longer proceed with the reorganization was based on management’s recommendation due to current market conditions.

 

In addition, each fund’s previously approved share repurchase program will continue in effect.

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  SABA CAPITAL INCOME AND OPPORTUNITIES FUND II
       
  By: /s/ Paul Kazarian  
    Paul Kazarian  
    Chief Executive Officer  

Date: March 25, 2026

Source: View Original Filing on SEC EDGAR

FAQ

What did Saba Capital Income & Opportunities Fund announce in this 8-K filing?

The filing states that Saba Capital Income & Opportunities Fund and Saba Capital Income & Opportunities Fund II terminated their previously approved reorganization. Each Board acted on management’s recommendation, which was based on current market conditions, and chose not to proceed with combining the two funds.

Why was the reorganization between BRW and SABA terminated?

The Boards of both funds decided to terminate the previously approved reorganization based on management’s recommendation. Management cited current market conditions as the reason, and the Boards determined it was preferable not to proceed with the combination at this time.

Will the Saba funds’ share repurchase programs continue after canceling the reorganization?

Yes, the filing confirms that each fund’s previously approved share repurchase program will continue in effect. This means both Saba Capital Income & Opportunities Fund and Saba Capital Income & Opportunities Fund II remain authorized to repurchase their own shares in the market under existing plans.

Does the termination of the Saba fund reorganization change how the funds operate?

The termination means the two funds will continue operating as separate closed-end funds instead of combining. Their investment structures and identities remain distinct, and both will still be able to use their existing share repurchase programs under the already approved authorizations.

Did the Saba funds indicate any future plans after ending the reorganization?

The funds stated they plan to reevaluate alternatives in the future after terminating the current reorganization plan. No specific alternatives or timelines are described, only that the Boards and management intend to reconsider options beyond the terminated transaction.

Which Saba funds are affected by this terminated reorganization?

The decision applies to Saba Capital Income & Opportunities Fund, listed on the New York Stock Exchange as BRW, and Saba Capital Income & Opportunities Fund II, listed as SABA. Both funds’ Boards decided not to proceed with the previously approved reorganization between them.

Filing Exhibits & Attachments

3 documents

Other Documents