Pioneer Municipal Funds to Liquidate and Dissolve After Stockholders Approve Proposal.

Pioneer Municipal High Income Advantage Fund, Pioneer Municipal High Income Fund, and Pioneer Municipal High Income Opportunities Fund announced the results of their special meetings, approving the liquidation and dissolution of each fund. The funds plan to liquidate their portfolios and distribute cash to stockholders, with the last day of trading expected on August 22, 2025. The primary liquidating distribution is scheduled for August 27, 2025, and will be a taxable event for stockholders.

Title: Pioneer Municipal High Income Funds Approve Liquidation and Dissolution

Pioneer Municipal High Income Advantage Fund, Pioneer Municipal High Income Fund, and Pioneer Municipal High Income Opportunities Fund announced the results of their special meetings, approving the liquidation and dissolution of each fund. The funds plan to liquidate their portfolios and distribute cash to stockholders, with the last day of trading expected on August 22, 2025. The primary liquidating distribution is scheduled for August 27, 2025, and will be a taxable event for stockholders.

In a significant move, each of the Pioneer Municipal High Income Funds (MAV, MHI, and MIO) held special meetings of stockholders on July 17, 2025, where the liquidation and dissolution of the funds were approved. These funds, which trade on the New York Stock Exchange (NYSE), are now in the process of winding down their operations.

The liquidation process will commence with the funds liquidating their portfolios to prepare for cash distributions to stockholders. Each fund will cease trading on the NYSE on August 25, 2025, and the determination date for fixing the proportionate interests of stockholders in the assets of each fund is set for August 22, 2025. The funds expect to make a primary distribution of liquidation proceeds to stockholders on or about August 27, 2025.

The liquidation proceeds will equal each fund's net asset value after accounting for all charges, taxes, expenses, and liabilities. As necessary, each fund may make one or more liquidating distributions after the primary distribution. Upon payment of the final liquidating distribution, all outstanding shares of each fund will be redeemed without the imposition of any redemption or other transaction fees.

Shareholders will be able to sell their fund shares in the secondary market until the market close on or about August 22, 2025. The sale of fund shares in the secondary market will generally be a taxable event for stockholders subject to U.S. federal income tax. Additionally, customary brokerage charges may apply to such transactions. The funds expect that, effective as of market close on or about August 22, 2025, each fund's shares will no longer be actively traded in the secondary market.

The liquidation will generally be considered a taxable event for stockholders subject to U.S. federal income tax. Any such stockholder that receives a distribution in the liquidation will generally realize capital gain or loss in an amount equal to the difference between the total amount of the liquidation distribution(s) received and the stockholder’s adjusted basis in the fund shares. Please consult your personal tax advisor with regard to the specific tax consequences of the liquidation.

Investments involve risk including possible loss of principal, and an investment should be made with an understanding of the risks involved with owning a particular security or asset class. Interested parties are strongly encouraged to seek advice from qualified tax and financial experts regarding the best options for your particular circumstances.

References

[1] https://www.stocktitan.net/news/MAV/announce-results-of-each-fund-s-special-meeting-of-stockholders-8uwlsiq69osa.html
[2] https://www.stocktitan.net/news/MIO/