ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

SZC Cushing NextGen Infrastructure Income Fund

40.784
0.00 (0.00%)
01 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Cushing NextGen Infrastructure Income Fund NYSE:SZC NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 40.784 0 01:00:00

Cushing® Renaissance Fund Announces the Results of its Rights Offering

22/03/2018 10:30pm

PR Newswire (US)


Cushing NextGen Infrastr... (NYSE:SZC)
Historical Stock Chart


From May 2019 to May 2024

Click Here for more Cushing NextGen Infrastr... Charts.

DALLAS, March 22, 2018 /PRNewswire/ -- The Cushing® Renaissance Fund (NYSE: SZC) (the "Fund") announced the results of its transferable rights offering (the "Offer"). The Offer commenced on February 16, 2018 and expired on March 22, 2018 (the "Expiration Date"). The Offer entitled rights holders to subscribe for up to an aggregate of 1,951,286 of the Fund's common shares of beneficial interest, par value $0.001 per share ("Common Shares"). The subscription price was $14.88 per Common Share and was determined based upon a formula equal to 78% of the Fund's net asset value ("NAV") per Common Share at the close of trading on the New York Stock Exchange ("NYSE") on the Expiration Date. The Offer was over-subscribed. Common Shares will be issued promptly after completion and receipt of all shareholder payments and the pro-rata allocation of Common Shares in respect of the over-subscription privilege.

Gross proceeds of the Offer are expected to be approximately $29.3 million. The Fund intends to invest the net proceeds of the Offer in accordance with its investment objective and policies.

This document is not an offer to sell any securities and is not soliciting an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a prospectus. Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. Such information, including other information about the Fund, can be found on file with the Securities and Exchange Commission and should be read carefully before investing.

About Cushing® Asset Management, LP

Cushing, a subsidiary of Swank Capital, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies. As of December 31, 2017, Cushing had approximately $3.6 billion of assets under management in closed-end funds, mutual funds, privately offered funds and separately managed accounts.

About Cushing® Renaissance Fund

The Fund is a non-diversified, closed-end management investment company with an investment objective of seeking a high total return with an emphasis on current income.  The Fund seeks to provide shareholders with a vehicle to invest in an actively managed portfolio of companies that may benefit from the developing U.S. energy, industrial and manufacturing renaissance.  The Fund is traded on the NYSE under the symbol "SZC."

The Fund utilizes leverage as part of its investment strategy. There can be no assurance that the Fund will achieve its investment objectives.

Website: http://www.cushingcef.com/

Contact:
Judson Redmond
Cushing® Asset Management, LP
214-635-1702
www.cushingasset.com

 

Cision View original content:http://www.prnewswire.com/news-releases/cushing-renaissance-fund-announces-the-results-of-its-rights-offering-300618544.html

SOURCE Cushing® Asset Management, LP

Copyright 2018 PR Newswire

1 Year Cushing NextGen Infrastr... Chart

1 Year Cushing NextGen Infrastr... Chart

1 Month Cushing NextGen Infrastr... Chart

1 Month Cushing NextGen Infrastr... Chart

Your Recent History

Delayed Upgrade Clock