Saba Capital Income & Opportunities Fund announces final results of its takeover bid

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NEW YORK–(COMMERCIAL THREAD) – Saba Capital Income & Opportunities Fund (NYSE: BRW) (the “Fund”) today announced the final results of the Fund’s tender offer (the “Takeover Offer”) for on up to 30% of its outstanding common shares (the “” Shares ”). The takeover bid, which expired at 11:59 pm Eastern time on July 19, 2021, has been oversubscribed .

Therefore, in accordance with the terms and conditions of the Tender Offer, the Fund will purchase Shares from all bidding shareholders on a pro rata basis, disregarding fractions, on the basis of the number of Shares properly tendered (” Pro-Ration ”). The final results of the Tender Offer are presented in the table below.

Number of

Actions

Submitted

Number of

Actions taken

to buy

Pro rata

Factor

To buy

Price*

75 266 484

36 453 372

48.433%

$ 4.851

* Equal to 99% of the net asset value per Share of the Fund as determined at the close of the regular trading session of the New York Stock Exchange on July 19, 2021 (the day on which the Public Offer expired).

Questions regarding the take-over bid may be directed to Innisfree M&A Incorporated, the information agent for the take-over bid, free of charge at:

Shareholders can call toll-free: (877) 825-8964

Banks and brokers can call collect: (212) 750-5833

Important Notice

This press release is for informational purposes only and does not constitute a recommendation, offer or solicitation to purchase common shares. The offer to purchase common shares of the Fund is being made pursuant to an offer set out in Schedule TO. Common shareholders can obtain a free copy of the Offer to Purchase and other documents filed with the SEC from the website maintained by the SEC at www.sec.gov or by sending such requests to the Fund.

About Saba Capital Income & Opportunities Fund

Saba Capital Income & Opportunities Fund is a publicly traded closed-end management investment company whose investment objective is to provide investors with a high level of current income, with a secondary objective of capital appreciation. The common shares of the Fund trade on the New York Stock Exchange under the ticker symbol “BRW”. The Fund is managed by Saba Capital Management, LP


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