Company: CXH
Filing Date: 2025-01-27
Form Type: N-CSR
Source: 0001683863-25-000339
Chunk: 34

Company: MFS INVESTMENT GRADE MUNICIPAL TRUST
Filing Date: 2025-01-27
Form: N-CSR
Chunk 34
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17a-7 under the Investment Company Act of 1940 (the “Act”) and relevant guidance, the fund engaged in
purchase and sale transactions with funds and accounts for which MFS serves as investment adviser or sub-adviser (“cross-trades”) which amounted to $20,767 and $841,826, respectively. The sales
transactions resulted in net realized gains (losses) of $(87,413).

(4) Portfolio Securities

For the year ended November 30,
2024, purchases and sales of investments, other than short-term obligations, aggregated $22,875,333 and $24,143,997, respectively.

(5) Shares of Beneficial
Interest

The fund’s Declaration of
Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. The fund reserves the right to repurchase shares of beneficial interest of the fund subject to Trustee
approval.

On October 6, 2023, the fund
commenced a cash tender offer for up to 10% of the fund’s outstanding common shares at a price per share equal to 98% of the fund’s net asset value per share calculated at the close of regular trading on
the New York Stock Exchange on the expiration date of the offer. This tender offer expired on November 6, 2023, at which time the offer was oversubscribed. The fund purchased the maximum number of shares offered in
the tender offer (911,025 common shares representing 10% of the fund’s then outstanding common shares). The purchase price of the

58

Notes to Financial Statements - continued

properly tendered shares was equal to $7.634 per share for an aggregate purchase price of $6,954,765. As a result of this tender offer, payment was made by the fund on November 15, 2023. The Trustees authorized the tender offer as part of an agreement with a large shareholder of the fund. Pursuant to the agreement, the Trustees also agreed to propose a liquidity event at the fund’s 2025 annual meeting of shareholders, unless the average trading discount of the shares is equal to or less than 7.5% for the entirety of any consecutive 30 calendar day period between November 6, 2023 and July 15, 2025. During the years ended November 30, 2024 and November 30, 2023, the average trading discount of the shares was not equal to or less than 7.