# EDGAR Filing Document

**Accession Number:** 0001392994
**File Stem:** 0001445546-25-003942
**Filing Date:** 2025-6
**Character Count:** 10743
**Document Hash:** ca7b0b72817cca21cf024a39a7d01e4f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001445546-25-003942.hdr.sgml**: 20250606

**ACCESSION NUMBER**: 0001445546-25-003942

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250606

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250606

**DATE AS OF CHANGE**: 20250606

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST SPECIALTY FINANCE & FINANCIAL OPPORTUNITIES FUND
- **CENTRAL INDEX KEY:** 0001392994

**ORGANIZATION NAME:**
- **EIN:** 061810845
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-22039
- **FILM NUMBER:** 251029097

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST TRUST/GALLATIN SPECIALTY FINANCE & FINANCIAL OPPORTUNITIES FUND
- **DATE OF NAME CHANGE:** 20070320

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST TRUST/GALLATIN SPECIALTY FINANCE FUND
- **DATE OF NAME CHANGE:** 20070313

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of**

**the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **June 6, 2025**

______________________________

**First Trust Specialty Finance and Financial Opportunities Fund**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Massachusetts** | **811-22039** | **06-1810845** |
| (State or other jurisdiction | (Commission File Number) | (IRS Employer |
| of incorporation) |  | Identification No.) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; **120 East Liberty Drive, Suite 400**<br> **Wheaton, Illinois**<br> (Address of principal executive offices) | &nbsp;&nbsp; **60187**<br> (zip code) |

---

Registrant's telephone number, including area code: (**630) 765-8000**

_______________________________________________________

(Former Name or Former Address, if Changed Since Last Report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | |
|:---|:---|
| **<u>Title of class</u>** | **<u>Name of Exchange on which registered</u>** |
| Common stock, $0.01 par value per share FGB | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

First Trust Advisors L.P. ("FTA") announced today that, subject to the satisfaction of certain customary closing conditions, the reorganization of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB), a closed-end management investment company, managed by FTA and sub-advised by Confluence Investment Management LLC ("Confluence"), into FT Confluence BDC & Specialty Finance Income ETF (NYSE Arca: FBDC), an actively managed exchange-traded fund ("ETF") managed by FTA and sub-advised by Confluence, is expected to become effective immediately before the opening of the NYSE on June 30, 2025.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit** |  |
| **Number** | &nbsp;&nbsp;**Description** |
| 99.1 | [Press Release, dated June 6, 2025](ex_99.htm). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Dated: June 6, 2025 |  | **FIRST TRUST SPECIALTY FINANCE AND FINANCIAL OPPORTUNITIES FUND** |
|  | By: | /s/ W. Scott Jardine |
|  | Name | W. Scott Jardine |
|  | Title: | Secretary |

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**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit** |  |
| **Number** | &nbsp;&nbsp;**Description** |
| 99.1 | [Press Release, dated June 6, 2025](ex_99.htm). |

---

## Ex-99

PRESS RELEASE

SOURCE: First Trust Advisors L.P.

**First Trust Announces Expected Effective Date of First Trust Specialty Finance and Financial Opportunities Fund Reorganization into FT Confluence BDC & Specialty Finance Income ETF**

Wheaton, IL – (BUSINESS WIRE) – June 6, 2025 – First Trust Advisors L.P. ("FTA") announced today that, subject to the satisfaction of certain customary closing conditions, the reorganization of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB), a closed-end management investment company, managed by FTA and sub-advised by Confluence Investment Management LLC ("Confluence"), into FT Confluence BDC & Specialty Finance Income ETF (NYSE Arca: FBDC), an actively managed exchange-traded fund ("ETF") managed by FTA and sub-advised by Confluence, is expected to become effective immediately before the opening of the NYSE on June 30, 2025.

As previously announced, the shareholders of FGB approved FGB's reorganization into FBDC at a Special Meeting of Shareholders on May 5, 2025. The reorganization was approved by the Board of Trustees of each of FGB and FBDC on September 8-9, 2024.

Upon the completion of the transaction, which is expected to be tax-free, the assets of FGB will be transferred to, and the liabilities of FGB will be assumed by, FBDC. The shareholders of FGB will receive shares of FBDC with a value equal to the aggregate net asset value of the shares of FGB held by them.

FGB is a diversified, closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of attractive total return. Under normal market conditions, FGB pursues its investment objectives by investing at least 80% of its Managed Assets in a portfolio of securities of specialty finance and other financial companies that Confluence believes offer attractive opportunities for income and capital appreciation. "Managed Assets" means the total asset value of FGB minus the sum of FGB's liabilities other than the principal amount of borrowings, if any.

FBDC is an actively managed ETF that seeks to provide a high level of current income, with a secondary objective of attractive total return. FBDC pursues these investment objectives by investing in BDCs and other specialty finance companies that Confluence believes offer attractive opportunities for income and capital appreciation.

FTA is a federally registered investment advisor and serves as the Fund's investment advisor. FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $255 billion as of April 30, 2025 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

Confluence Investment Management LLC, an SEC registered investment advisor, serves as the investment sub-advisor to FGB and the new ETF. The Confluence team has more than 600 years of combined financial experience and 400 years of portfolio management/research experience, maintaining a track record that dates back to 1994. As of March 31, 2025, Confluence had $12.7 billion in assets under management and advisement (assets under management = $7.2 billion; assets under advisement = $5.5 billion).

**Additional Information / Forward-Looking Statements**

This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of FGB or FBDC. Certain statements made in this news release that are not historical facts are referred to as "forward-looking statements" under the U.S. federal securities laws. Actual future results or occurrences may differ significantly from those anticipated in any forward- looking statements due to numerous factors. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the historical experience of FTA and the funds managed by FTA and its present expectations or projections. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. FTA, FGB and FBDC undertake no responsibility to update publicly or revise any forward-looking statements.

An investor should carefully consider the investment objectives, risks, charges and expenses of FGB or FBDC, as applicable, before investing. The prospectuses for FGB and FBDC contain this and other important information and are available free of charge by calling toll-free at 1-800-621-1675 or writing FGB or FBDC at 120 East Liberty Drive, Suite 400, Wheaton, IL 60187. The prospectus should be read carefully before investing.

_______________________________________

CONTACT: Jeff Margolin – (630) 517-7643

___________________________________

CONTACT: Jim Dykas – (630) 517-7665

___________________________________

SOURCE: First Trust Advisors L.P.