BlackRock MuniHoldings New Jersey Quality Fund Enters Standstill Agreement with Saba Capital Management, L.P.

On January 20, 2025, BlackRock MuniHoldings New Jersey Quality Fund, Inc. announced that it has entered into a Standstill Agreement with Saba Capital Management, L.P. The Investment Advisor, BlackRock Advisors, LLC, is also a party to the agreement.

The Standstill Agreement outlines that during its effective period, Saba, the Fund, and the Investment Advisor will adhere to the terms of the agreement. These terms include Saba agreeing to comply with certain customary standstill covenants and to vote its shares of common stock, if any, in alignment with the recommendation of the Fund’s Board of Directors on all matters presented to shareholders.

This agreement will be valid until the day following the conclusion of the Fund’s 2027 annual meeting of shareholders or August 31, 2027, whichever is earlier, unless an earlier termination is agreed upon by the involved parties. A copy of the Standstill Agreement has been included as Exhibit 10.1 to the filed report and is incorporated by reference therein.

In other related disclosures, the company stated that as required by the Securities Exchange Act of 1934, the report has been duly signed by Janey Ahn, serving as Secretary on behalf of BlackRock MuniHoldings New Jersey Quality Fund, Inc., on January 21, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BlackRock MuniHoldings New Jersey Quality Fund’s 8K filing here.

About BlackRock MuniHoldings New Jersey Quality Fund

BlackRock MuniHoldings New Jersey Quality Fund, Inc is a close ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in the fixed income markets of United States. The fund invests primarily in long-term, investment grade municipal obligations exempt from federal income taxes and New Jersey personal income taxes.