Company: NPFD
Filing Date: 2025-04-04
Form Type: N-CSRS
Source: 0001193125-25-073013
Chunk: 6

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-04-04
Form: N-CSRS
Chunk 6
---
independent

registered

public

accounting

firm

for

the

Funds.

During

the

Funds’

fiscal

years

ended

July

31,

2024

and

July

31,

2023

and

for

the

subsequent

interim

period

through

October

24,

2024,

the

Funds

have

not

consulted

with

PwC

regarding

any

of

the

matters

described

in

Regulation

S-K

Item

304

(“S-K

304”),

S-K

304(a)(2)(i)

or

S-K

304(a)(2)(ii)

disclosure.

#### JQC
#### –

#### Rights
Offering:

On

March

19,

2025,

the

Board

approved

the

terms

of

the

issuance

of

Rights

to

the

holders

of

the

Fund’s

Common

Shares

as

of

March

31,

2025

(the

“Record

Date”).

Holders

of

Rights

will

be

entitled

to

subscribe

for

additional

Common

shares

(the

“Offer”)

at

a

discount

to

the

market

price

of

the

Common

Shares.

After

considering

a

number

of

factors,

including

potential

benefits

and

costs,

the

Board

and

the

Adviser,

determined

that

the

Offer

will

benefit

both

the

Fund

and

its

common

shareholders

and

increase

the

assets

of

the

Fund

available

to

take

advantage

of

existing

investment

opportunities,

consistent

with

the

Fund’s

investment

objective

of

providing

shareholders

with

a

high

level

of

current

income

and

its

secondary

investment

objective

of

total

return.

•

The

Fund’s

declaration

of

trust

was

amended

to

eliminate

the

term

of

the

Fund.

Certain

key

terms

of

the

Offer

include:

•

Holders

of

Common

Shares

on

the

Record

Date

(“Record

Date

Shareholders”)

will

receive