MFS Investment Grade Municipal Trust Announces Preliminary Results of 50% Tender Offer

summarizeSummary

MFS Investment Grade Municipal Trust announced preliminary results for its tender offer to repurchase up to 50% of its common shares, with the offer being oversubscribed.

check_boxKey Events

• Tender Offer Results Announced

  The tender offer to repurchase up to 50% (4,099,610 shares) of the Fund's outstanding common shares expired on May 12, 2026.

• Offer Oversubscribed

  Approximately 4,720,213.63 shares were properly tendered, exceeding the target amount.

• Proration and Pricing Details

  Shares will be purchased at 99% of the Net Asset Value (NAV) per share, which was $8.54 as of May 12, 2026. An estimated proration of 86.85% will be applied to tendered shares.

• Final Results Pending

  The actual number of shares to be purchased and payment for such shares are anticipated to be announced on or about May 18, 2026.

auto_awesomeAnalysis

MFS Investment Grade Municipal Trust has announced the preliminary results of its tender offer to repurchase up to 50% of its outstanding common shares. This is a highly significant capital event, as it aims to reduce the share count by half, which typically enhances Net Asset Value (NAV) per share for remaining shareholders. The offer was oversubscribed, indicating strong shareholder participation, and the company will purchase shares at 99% of NAV. Investors should watch for the final results and payment date around May 18, 2026.