BlackRock MuniHoldings New York Quality Fund Enters Standstill Agreement with Saba Capital Management

BlackRock MuniHoldings New York Quality Fund, Inc. recently announced that it has entered into a standstill agreement with Saba Capital Management, L.P. The Standstill Agreement, effective as of January 20, 2025, involves BlackRock MuniHoldings New York Quality Fund and its Investment Advisor, BlackRock Advisors, LLC.

The agreement outlines that during the period in force, Saba Capital Management, the Fund, and the Investment Advisor will adhere to the terms specified therein. These include Saba’s commitment to comply with certain standard standstill provisions, retracting the shareholder proposal previously put forward for consideration at the Fund’s 2025 annual meeting of shareholders, and casting its shares of common stock, if any, following the recommendation of the Fund’s Board of Directors on all matters presented to shareholders. The Standstill Agreement is set to extend until a day after the closure of the Fund’s 2027 annual meeting of shareholders or August 31, 2027, subject to early termination by the involved parties.

The full details of this Standstill Agreement can be found in Exhibit 10.1 of the report submitted by BlackRock MuniHoldings New York Quality Fund, Inc.

In a separate development, Shuttle Pharmaceuticals Holdings, Inc. disclosed a breakthrough in patient enrollment related to its Phase 2 Clinical Trial of Ropidoxuridine. This trail focuses on treating patients with glioblastoma, a severe form of brain cancer, and has reached 25% enrollment in the initial randomized segment. The trial aims to optimize the dosage of Ropidoxuridine for treating glioblastoma patients and achieve statistically significant results, comparing the survival rates with historical controls.

The trial is being conducted in collaboration with various medical centers, including Georgetown University Medical Center, Allegheny Health Network (AHN) Cancer Institute, and others. The CEO and Chairman of Shuttle Pharma, Anatoly Dritschilo, M.D., expressed gratitude to the participating centers for their role in the trial aimed at enhancing cancer cure rates and improving patients’ quality of life.

For further information about the Phase 2 study (NCT06359379), interested parties can visit www.clinicaltrials.gov.

As both BlackRock MuniHoldings New York Quality Fund and Shuttle Pharmaceuticals make significant progress in their respective ventures, investors and stakeholders are keenly observing the outcomes of these developments and their potential impacts on the financial markets.

This news article is based on the recently filed 8-K report by BlackRock MuniHoldings New York Quality Fund, Inc., and the press release from Shuttle Pharmaceuticals Holdings, Inc.

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 York Quality Fund’s 8K filing here.

BlackRock MuniHoldings New York Quality Fund Company Profile

BlackRock MuniHoldings New York Quality Fund, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade New York municipal obligations exempt from federal income taxes and New York State and New York City personal income taxes.