Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material
March 01 2024 - 3:24PM
Edgar (US Regulatory)
As filed with the Securities and Exchange
Commission on March 1, 2024
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant
to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrant ☒
Filed by a Party other than the Registrant ☐
Check the appropriate box:
| ☐ | Preliminary Proxy Statement |
| ☐ | Confidential,
for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
| ☐ | Definitive Proxy Statement |
| ☒ | Definitive Additional Materials |
| ☐ | Soliciting Material under §240.14a-12 |
First Trust Specialty Finance
and Financial Opportunities Fund
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other
than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
| ☐ |
Fee paid previously with preliminary materials. |
| ☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act
Rules 14a-6(i)(1) and 0-11. |
First Trust Specialty Finance
and Financial Opportunities Fund
March 1, 2024
Dear Shareholder:
IMPORTANT VOTE FOR YOUR FUND!
You are being asked to consider an important
proposal regarding the proposed reorganization of the First Trust Specialty Finance and Financial Opportunities Fund (FGB) (the “Fund”)
with and into abrdn Total Dynamic Dividend Fund (“AOD”) (the “Reorganization”). The special meeting
of shareholders of the Fund has been adjourned to March 7, 2024 (the “Special Meeting”), in order to allow shareholders
more time to vote.
The Fund believes there are many potentional
benefits of the Fund’s tax-free Reorganization into AOD, including:
| • | Lower Expense Ratio: AOD has a lower net total annual operating expense ratio than your Fund. |
| • | Improved Trading: Shares of AOD have historically traded at meaningfully higher volumes at tighter
bid-ask spread percentages than those of your Fund. |
| • | Better Performance: AOD has outperformed your Fund on both a market value and net asset value basis
for the 5-year period ending December 31, 2023. Please refer to the Joint Proxy Statement/Prospectus for the full presentation of performance
of AOD and the Fund. |
Please help your Fund and vote today, no matter how many shares you
own.
|
Vote FOR the Reorganization on the WHITE proxy card. |
|
The Fund’s Board of Trustees (the “Board”) recommends that you vote FOR the Proposal on the WHITE proxy card. |
|
Institutional Shareholder Services, the leading independent proxy advisory firm, has recommended that shareholders vote FOR the approval of the Reorganization on the Fund’s WHITE proxy card. |
|
Prevent Saba Capital Management L.P. (“Saba”), an activist hedge fund investor, from derailing the Reorganization to advance its own self-interested agenda. |
Saba was not a shareholder of record prior
to the announcement of the Reorganization, and cannot vote any of its after-the-fact acquired shares. Saba is trying to derail the
Reorganization to advance its own agenda at the expense of shareholders at-large and deprive shareholders of the potential benefits of
the Reorganization. The Board urges you NOT to sign any gold proxy cards sent to you by Saba.
If you already signed a gold proxy card from
Saba, you have the right as a shareholder of the Fund to change your vote before the Special Meeting takes place. You can do this by completing
the WHITE proxy card sent to you by your Fund, which will replace the gold proxy card you previously completed.
If your Fund does not obtain enough votes,
the Reorganization cannot be consummated and you may not receive the potential benefits of the Reorganization. Please vote using one
of the following options:
Log on to the website shown on the
WHITE proxy card. Please have the WHITE proxy card in hand to access your control number and follow the on-screen instructions.
Complete, sign,
date and return the WHITE proxy card.
If you have any questions, please contact the
Fund’s proxy solicitor, EQ Fund Solutions LLC, at (866) 796-7172 weekdays from 9:00 a.m. to 10:00 p.m. Eastern Time.
YOUR VOTE IS VERY IMPORTANT!
DO NOT DELAY! VOTE THE WHITE PROXY CARD
NOW!
Thank you for your continued support.
Sincerely,
First
Trust Specialty Finance and Financial Opportunities Fund
_/s/ James A. Bowen
James A. Bowen
Chairman of the Board
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