Nuveen NMCO Sets Terms for 1-for-4 Transferable Rights Offering
NMCO is trading near its 52-week low of $9.8 (0.1% above the low) on elevated volume (6.0× avg).
Summary
Nuveen Municipal Credit Opportunities Fund announced full terms of a 1-for-4 transferable rights offering with a subscription price at 95% of market (floor of 90% of NAV), expiring October 7, 2026. Rights will trade on the NYSE under NMCO RT.
Key Events · Financing and Capital Events · NMCO
-
1-for-4 Transferable Rights Offering
Record Date Shareholders receive one Right per share held; every four Rights entitle the holder to buy one new Common Share. Record Date is September 8, 2026.
-
Subscription Price Formula
Price equals 95% of the average of the last reported sales price on the Expiration Date and the four preceding trading days, with a floor of 90% of NAV per share at close on the Expiration Date.
-
Expiration and Rights Trading
Offer expires at 5:00 p.m. ET on October 7, 2026. Rights expected to trade when-issued as NMCO RTWI from September 4, 2026, and regular settlement as NMCO RT from about September 10, 2026, ceasing October 6, 2026.
-
Over-Subscription Privilege
Record Date Shareholders who fully exercise their Rights may subscribe for additional shares not taken up by others, allocated pro rata; secondary-market Rights buyers are not eligible.
Analysis · NMCO · Unknown
The finalized terms of a transferable rights offering from Nuveen Municipal Credit Opportunities Fund allow existing shareholders to buy one new share for every four rights held. The subscription price is set at 95% of the average market price over the five trading days ending October 7, 2026, with a floor of 90% of NAV — a discount to market that is typical for closed-end fund rights offerings. With the fund trading near its 52-week low, the offering is dilutive to existing holders who do not participate, but the advisor is covering all expenses and the proceeds will be used to buy high-yield municipal securities. The rights themselves will trade on the NYSE under NMCO RT, giving shareholders the option to sell their rights rather than subscribe.
How filings like this one have moved
In the 30 days to Sep 9, 2026, 30% of the 1972 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NMCO was trading at $9.81 on NYSE in the Unknown sector, with a market capitalization of approximately $573.3M. The 52-week trading range was $9.80 to $11.00. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.