Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 170

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 170
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 other investment company or similar entity. In the
case of the conversion of the Acquiring Fund to an open-end investment company, or in the case of any of the foregoing transactions
constituting a plan of reorganization (as that term is used in the 1940 Act) which adversely affects the holders of preferred shares,
the action in question will also require the affirmative vote of the holders of at least two-thirds of the Acquiring Fund’s
preferred shares outstanding at the time, voting as a separate class, or, if such action has been authorized by the affirmative
vote of two-thirds of the total number of trustees fixed in accordance with the Acquiring Fund’s declaration of trust or
the Acquiring Fund’s by-laws, the affirmative vote of the holders of at least a majority of the Acquiring Fund’s preferred
shares outstanding at the time, voting as a separate class. None of the foregoing voting provisions may be amended or repealed
except by the vote of at least two-thirds of the common shares and preferred shares entitled to vote, voting as a single class.
The votes required to approve the conversion of the Acquiring Fund from a closed-end to an open-end investment company or to approve
transactions constituting a plan of reorganization which adversely affects the holders of preferred shares are higher than those
required by the 1940 Act. The Acquiring Fund’s Board believes that the provisions of the Acquiring Fund’s declaration
of trust relating to such higher votes are in the best interests of the Acquiring Fund.

In addition, the Acquiring Fund’s
by-laws require the Board be divided into three classes with staggered terms. This provision of the by-laws could delay for up
to two years the replacement of a majority of the Board. Holders of preferred shares, voting as a separate class, are entitled
to elect two of the Acquiring Fund’s trustees. In addition, the by-laws contain various provisions relating to the qualifications
for trustees and requirements for the nomination by shareholders of the Fund’s trustees, and a provision requiring a majority
vote of shareholders to elect trustees in a contested election, all of which could make it more difficult for shareholders to nominate
and elect trustees not nominated by the Fund’s existing trustees.

The provisions of the Acquiring Fund’s
declaration of trust and by-laws described above could have the effect of depriving the common shareholders of opportunities to
sell their common shares at a premium over the then-current market price of the common shares by discouraging a third