DALLAS, May 17, 2024
/PRNewswire/ -- NXG Cushing® Midstream Energy Fund
(NYSE: SRV) (the "Fund") announced today that it has established an
"at-the-market" offering program (the "Offer"), pursuant to which
the Fund may offer and sell common shares of beneficial interest,
par value $0.001 per share ("Common
Shares") through a distribution agreement with Foreside Fund
Services, LLC (the "Distributor"). The sales, if any, of Common
Shares made under the program will be made through the Distributor
in transactions that are deemed to be "at-the-market offerings" as
defined in Rule 415 under the Securities Act of 1933, as
amended.
The Fund intends to invest the net proceeds of any sales of
Common Shares in the Offer in accordance with its investment
objective and policies.
The Common Shares will be offered under the Fund's effective
registration statement on file with the Securities and Exchange
Commission (the "SEC"). The Fund has filed a prospectus supplement,
dated May 17, 2024, with the SEC in
connection with the Offer.
The Fund will pay expenses associated with the Offer which will
be borne indirectly by the Fund's common shareholders.
The information herein is not complete and is subject to
change.
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 supplement and
accompanying prospectus. Investors should consider the Fund's
investment objectives, risks, charges and expenses carefully before
investing. The Fund's prospectus supplement and accompanying
prospectus contain this and additional information about the Fund
and additional information about the Offer, and should be read
carefully before investing.
Additional Information About the Fund
The Fund is a non-diversified, closed-end management investment
company with an investment objective of seeking a high after-tax
total return from a combination of capital appreciation and current
income. The Fund seeks to achieve its investment objective by
investing, under normal market conditions, at least 80% of its net
assets, plus any borrowings for investment purposes, in a portfolio
of midstream energy investments. The Fund considers midstream
energy investments to be investments that offer economic exposure
to securities of midstream energy companies, which are companies
that engage provide midstream services in the energy infrastructure
sector, including the gathering, transporting, processing,
fractionation, storing, refining and distribution of natural
resources, such as natural gas, natural gas liquids, crude oil
refined petroleum products, biofuels, carbon sequestration, solar,
and wind. The Fund considers a company to be a midstream energy
company if at least 50% of its assets, income, sales or profits are
committed to, derived from or otherwise related to midstream energy
services. The Fund's shares are traded on the New York Stock
Exchange under the symbol "SRV."
About NXG Investment Management
Cushing® Asset Management, LP ("Cushing") is an SEC-registered investment
adviser headquartered in Dallas,
Texas. Cushing serves as
investment adviser to affiliated funds and managed accounts.
Cushing is doing business as NXG
Investment Management providing Next Generation investment
strategies to investors seeking long-term growth in companies
focused on a clean and sustainable future as well as traditional
and transformational infrastructure companies.
IMPORTANT INFORMATION
This press release contains certain statements that may include
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are "forward-looking statements."
Although the Fund and NXG Investment Management believe that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the company's reports that are filed
with the Securities and Exchange Commission. You should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Other than as required
by law, the Fund and Cushing do
not assume a duty to update this forward-looking statement.
Contact:
Blake Nelson
NXG Investment Management
214-692-6334
www.nxgim.com
NOT FDIC INSURED
NO
BANK GUARANTEE
MAY
LOSE VALUE
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SOURCE NXG Investment Management