Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 9) 1
First Trust/Aberdeen Global Opportunity Income Fund
(Name of Issuer)
Common Stock
(Title of Class of Securities)
337319107
(CUSIP Number)
Jodi Hedberg, Chief Compliance Officer
Karpus Management, Inc.
d/b/a Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
(585) 586-4680
Adam W. Finerman, Esq.
Olshan Frome Wolosky LLP
1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 19, 2021
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☒
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
______________
1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 337319107 |
13D | Page 2 of 6 Pages |
| 1. | NAME OF REPORTING PERSON
Karpus Investment Management
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| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☒ (b) ☐ | ||
| 3. | SEC USE ONLY
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| 4. | SOURCE OF FUNDS
WC
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| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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☐ | ||
| 6. | CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. |
SOLE VOTING POWER
1,756,358 Shares
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| 8. | SHARED VOTING POWER
0 Shares
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| 9. | SOLE DISPOSITIVE POWER
1,803,487 Shares
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| 10. | SHARED DISPOSITIVE POWER
0 Shares
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| 11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,803,487 Shares
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| 12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐ | ||
| 13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.80%
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14. |
TYPE OF REPORTING PERSON
IA
|
CUSIP
No. 337319107
13D
Page
3 of 6 Pages
The following constitutes Amendment No. 9 to the Schedule 13D filed by the undersigned (“Amendment No. 9”). This Amendment No. 9 amends the Schedule 13D as specifically set forth herein.
| Item 2. | Identity and Background. |
Item 2(a) is hereby amended and restated to read as follows:
(a) This statement is filed by:
(i) Karpus Management, Inc., d/b/a Karpus Investment Management (“Karpus”). Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc (“CLIG”), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG. The shares to which this Amendment No. 9 relates are owned directly by the accounts managed by Karpus;
Set forth on Schedule A annexed hereto (“Schedule A”) is the name and present principal business, occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted of the executive officers and directors of Karpus. To the best of the Reporting Persons’ knowledge, except as otherwise set forth on Schedule A, none of the persons listed on Schedule A beneficially owns any securities of the Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.
| Item 3. | Source and Amount of Funds or Other Consideration. |
Item 3 is hereby amended and restated to read as follows:
Karpus, an independent registered investment advisor, has accumulated 1,803,487 Shares on behalf of accounts that are managed by Karpus (the “Accounts”) under limited powers of attorney, which represents 17.80% of the outstanding Shares. All funds that have been utilized in making such purchases for the Accounts (which are open market purchases unless otherwise noted) are from such Accounts.
The aggregate purchase price of the 1,803,487 Shares beneficially owned by Karpus Investment M anagement is approximately $18,196,697, excluding brokerage commissions. Such Shares were purchased with working capital (which may at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases except as otherwise noted.
CUSIP No. 337319107 |
13D | Page 4 of 6 Pages |
| Item 4. | Purpose of Transaction. |
Item 4 is hereby amended to add the following:
On December 2, 2020, the Issuer entered into a Standstill Agreement with Karpus (the “Agreement”). The tender offer pursuant to the Agreement has been completed.
|
Item 5. | Interest in Securities of the Issuer. |
Item 5 is hereby amended and restated to read as follows:
The aggregate percentage of Shares reported owned by each Reporting Person is based upon 10,136,829 Shares outstanding, as indicated on the Issuer’s Schedule TO-1/A filed on February 17, 2021.
| A. | Karpus Investment Management |
| (a) | As of the close of business on February 19, 2021, Karpus Investment Management beneficially owned the 1,803,487 Shares held in the Accounts. |
Percentage: Approximately 17.80%
| (b) | 1. Sole power to vote or direct vote: 1,756,358 | |
| 2. Shared power to vote or direct vote: 0 | ||
| 3. Sole power to dispose or direct the disposition: 1,803,487 | ||
| 4. Shared power to dispose or direct the disposition: 0 | ||
| (c) | The transactions in the Shares by Karpus during the past sixty (60) days are set forth in Schedule B and incorporated herein by reference. |
The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that it does not directly own.
;
CUSIP No. 337319107 |
13D | Page 5 of 6 Pages |
SIGNATURES
After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
KARPUS MANAGEMENT, INC. | ||
| ||
| Dated: February 23, 2021 | By: | /s/ Jodi Hedberg |
Name: Jodi Hedberg Title: Chief Compliance Officer | ||
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CUSIP No. 337319107 |
13D | Page 6 of 6 Pages |
SCHEDULE A
Executive Officers & Directors of Karpus Management, Inc., d/b/a Karpus Investment Management
| Name | Position & Present Principal Occupation | Business Address | Shares Owned |
| Kathleen Finnerty Crane | Chief Financial Officer | 183 Sully’s Trail, Pittsford, New York 14534 | 54 Shares |
| Dana R. Consler | Executive Vice President | 183 Sully’s Trail, Pittsford, New York 14534 | 910 Shares |
| Thomas M. Duffy | Senior Vice President and Director of Operations | 183 Sully’s Trail, Pittsford, New York 14534 | 0 Shares |
| Sharon L. Thornton | Executive Vice President | 183 Sully’s Trail, Pittsford, New York 14534 | 0 Shares |
| Jodi L. Hedberg | Chief Compliance Officer |
183 Sully’s Trail, Pittsford, New York 14534 | 0 Shares |
| Daniel L. Lippincott | Chief Investment Officer | 183 Sully’s Trail, Pittsford, New York 14534 | 0 Shares |
| David D’Ambrosio | Senior Vice President | 183 Sully’s Trail, Pittsford, New York 14534 | 348 Shares |
| Marijoyce Ryan | Senior Vice President | 183 Sully’s Trail, Pittsford, New York 14534 | 0 Shares |
| Thomas Wayne Griffin | Director | 1125 Airport Road, Coatesville, PA 19320 | 0 Shares |
| Carlos Manuel Yuste | Director | 1125 Airport Road, Coatesville, PA 19320 | 0 Shares |
SCHEDULE B
Transactions in the Shares during the past sixty (60) days
| Nature of the Transaction | Securities Purchased/(Sold) |
Price Per Share($) |
Date of Purchase / Sale |
KARPUS
MANAGEMENT, INC., D/B/A/ KARPUS INVESTMENT MANAGEMENT
(THROUGH THE ACCOUNTS)
| Sale of Common Stock | (814) | $10.54 | 1/6/2021 |
| Sale of Common Stock | (350) | $10.55 | 1/11/2021 |
| Sale of Common Stock | (175) | $10.59 | 1/21/2021 |
| Sale of Common Stock | (175) | $10.53 | 1/27/2021 |
| Sale of Common Stock | (3,400) | $10.42 | 1/29/2021 |
| Sale of Common Stock | (800) | $10.40 | 2/5/2021 |
| Sale of Common Stock | (1,548,508) | $10.76 | 2/19/2021 |