8-K: New America High Income Fund Reorganization into T. Rowe Price High Yield Fund Set to Close March 31

The New America High Income Fund Inc. announces the expected closing date for its reorganization into the T. Rowe Price High Yield Fund is March 31, 2025, subject to customary closing conditions.

Summary

• The New America High Income Fund Inc. (HYB) announced that its reorganization into the T. Rowe Price High Yield Fund is expected to close immediately before the opening of business on the New York Stock Exchange on March 31, 2025.
• The reorganization is subject to customary closing conditions.
• Upon closing, shareholders of the Fund will become holders of Investor Class shares of the T. Rowe Price Fund.
• As of February 28, 2025, T. Rowe Price and its affiliates managed approximately $1.63 trillion of assets.

Sentiment

Score: 7

Explanation: The announcement is a routine update on a previously announced reorganization, with a positive outlook for shareholders transitioning to the T. Rowe Price High Yield Fund. The sentiment is neutral to slightly positive.

Positives

• The reorganization provides HYB shareholders with access to the T. Rowe Price High Yield Fund.
• T. Rowe Price has a long history of providing investment advisory services, since 1937.

Risks

• Forward-looking statements are subject to uncertainties and other factors that may be beyond the Fund's control, potentially causing actual results to differ materially.

Future Outlook

The reorganization is expected to close on March 31, 2025, subject to customary closing conditions, after which HYB shareholders will become holders of Investor Class shares of the T. Rowe Price Fund.

Industry Context

Closed-end funds are sometimes reorganized into other fund structures, often to improve efficiency or provide shareholders with access to a different investment strategy or manager. This reorganization reflects a strategic decision to align HYB with the T. Rowe Price High Yield Fund.

Stakeholder Impact

• Shareholders of the New America High Income Fund will become holders of Investor Class shares of the T. Rowe Price Fund.
• The reorganization will impact the investment strategy and management of the assets previously held by the New America High Income Fund.

Next Steps

• The reorganization is subject to customary closing conditions.
• Shareholders of the Fund will become holders of Investor Class shares of the T. Rowe Price Fund upon closing.

Key Dates