The filing authorizes but does not require sales — monitor daily volume and trading volumes for actual ATM sales. The 3.79% premium to NAV is the key constraint: if the premium narrows, the fund can sell more shares; if it widens, the fund cannot sell. No actual dilution is guaranteed.
Price Chart
Executive Summary
PIMCO Corporate & Income Opportunity Fund (PTY) filed a 424B5 prospectus supplement to register up to $1.5 billion in common shares for an at-the-market (ATM) offering through JonesTrading. The fund has already sold 134.7 million shares in prior ATM offerings, raising ~$1.97 billion in net proceeds. This is a routine capital-raising filing for a closed-end fund that trades at a 3.79% premium to NAV ($11.77 market price vs. $11.34 NAV as of Aug 31, 2026). The filing itself is neutral — it authorizes sales but does not guarantee them — and the potential dilution overhang is the key risk.
Key Facts
- Up to $1,500,000,000 in common shares registered for ATM sale via JonesTrading
- Fund has already sold 134,685,089 shares in prior ATMs, netting $1,974,468,589
- NAV per share $11.34, market price $11.77 (3.79% premium) as of Aug 31, 2026
- Sales cannot occur below NAV per 1940 Act restriction
- JonesTrading commission up to 1.00% of gross proceeds
- Net proceeds estimated proceeds ~$1,483,791,921 at assumed $11.77 price
- Fund had 221,883,890 shares outstanding as of Aug 31, 2026
Financial Impact
Up to $1.5 billion in potential new common shares; existing shares outstanding 221.9M shares; prior ATMs raised $1.97B
Risk Factors
- Potential dilution from up to $1.5B in new shares
- Market discount risk — shares trade at premium to NAV but could narrow
- No guarantee of any sales; filing is routine shelf takedown
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001193125-26-401404 |
| Document: d85659dexfilingfees.htm | 0001193125-26-401404 |
| Document: 0001193125-26-401404-index-headers.html | 0001193125-26-401404 |
| Document: 0001193125-26-401404-index.html | 0001193125-26-401404 |
| Document: 0001193125-26-401404.txt | 0001193125-26-401404 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 24, 2026 4w ago | 424B5 | $10.93 $10.68 | ▼ −2.29% | ▼ −0.81% | $10.65 (−2.56%) |
Jun 24, 2026 17w ago | 8-K | $11.80 $11.61 | ▼ −1.61% | ▼ −2.14% | $10.65 (−9.75%) |
US Market Status
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