NXG NextGen Infrastructure Income Fund (NYSE: NXG) Announces Terms of Rights Offering and Change to Record Date of August Distribution
NXG NextGen Infrastructure Income Fund (NYSE: NXG) has announced a Rights Offering allowing existing shareholders to purchase additional common shares at a discount. The Fund will distribute one Right for each Common Share held on the July 21, 2025 record date, with shareholders able to purchase one new Common Share for every three Rights held.
The subscription price will be set at 95% of the average closing price over the final five trading days of the offer, which expires on August 13, 2025. If this price falls below 90% of NAV, the subscription price will be set at 90% of NAV. Additionally, the Fund has modified its August distribution record date to August 4, 2025, with a monthly distribution of $0.54 per share.
NXG NextGen Infrastructure Income Fund (NYSE: NXG) ha annunciato un'Offerta di Diritti che consente agli azionisti esistenti di acquistare azioni ordinarie aggiuntive a un prezzo scontato. Il Fondo distribuirà un Diritto per ogni Azione Ordinaria detenuta alla data di registrazione del 21 luglio 2025, e gli azionisti potranno acquistare una nuova Azione Ordinaria ogni tre Diritti posseduti.
Il prezzo di sottoscrizione sarà fissato al 95% del prezzo medio di chiusura degli ultimi cinque giorni di negoziazione dell'offerta, che scade il 13 agosto 2025. Se questo prezzo dovesse scendere sotto il 90% del valore patrimoniale netto (NAV), il prezzo di sottoscrizione sarà stabilito al 90% del NAV. Inoltre, il Fondo ha modificato la data di registrazione della distribuzione di agosto al 4 agosto 2025, con una distribuzione mensile di 0,54$ per azione.
NXG NextGen Infrastructure Income Fund (NYSE: NXG) ha anunciado una Oferta de Derechos que permite a los accionistas existentes comprar acciones comunes adicionales con descuento. El Fondo distribuirá un Derecho por cada Acción Común poseída en la fecha de registro del 21 de julio de 2025, y los accionistas podrán comprar una nueva Acción Común por cada tres Derechos que tengan.
El precio de suscripción se establecerá en el 95% del precio promedio de cierre durante los últimos cinco días hábiles de la oferta, que vence el 13 de agosto de 2025. Si este precio cae por debajo del 90% del valor neto de los activos (NAV), el precio de suscripción se fijará en el 90% del NAV. Además, el Fondo ha modificado la fecha de registro para la distribución de agosto al 4 de agosto de 2025, con una distribución mensual de $0.54 por acción.
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청약 가격은 공모 종료일인 2025� 8� 13�까지 마지� 5거래일간� 평균 종가� 95%� 책정됩니�. 만약 � 가격이 순자산가�(NAV)� 90% 미만으로 떨어� 경우, 청약 가격은 NAV� 90%� 조정됩니�. 또한, 펀드는 8� 배당 기준일을 2025� 8� 4�� 변경했으며, � 배당금은 주당 $0.54입니�.
NXG NextGen Infrastructure Income Fund (NYSE : NXG) a annoncé une émission de droits permettant aux actionnaires existants d’acheter des actions ordinaires supplémentaires à prix réduit. Le Fonds distribuera un droit pour chaque action ordinaire détenue à la date de référence du 21 juillet 2025, les actionnaires pouvant acheter une nouvelle action ordinaire pour trois droits détenus.
Le prix de souscription sera fixé à 95 % du prix de clôture moyen des cinq derniers jours de bourse de l’offre, qui expire le 13 août 2025. Si ce prix est inférieur à 90 % de la valeur liquidative (NAV), le prix de souscription sera fixé à 90 % de la NAV. Par ailleurs, le Fonds a modifié la date de référence de sa distribution d’août au 4 août 2025, avec une distribution mensuelle de 0,54 $ par action.
NXG NextGen Infrastructure Income Fund (NYSE: NXG) hat eine Bezugsrechtsemission angekündigt, die es bestehenden Aktionären ermöglicht, zusätzliche Stammaktien zu einem vergünstigten Preis zu erwerben. Der Fonds wird für jede am 21. Juli 2025 gehaltene Stammaktie ein Bezugsrecht ausgeben, wobei Aktionäre für jeweils drei Bezugsrechte eine neue Stammaktie kaufen können.
Der Zeichnungspreis wird auf 95 % des durchschnittlichen Schlusskurses der letzten fünf Handelstage der Angebotsfrist festgesetzt, die am 13. August 2025 endet. Fällt dieser Preis unter 90 % des Nettoinventarwerts (NAV), wird der Zeichnungspreis auf 90 % des NAV festgelegt. Zusätzlich hat der Fonds das Stichtagsdatum für die Augustausschüttung auf den 4. August 2025 geändert, mit einer monatlichen Ausschüttung von 0,54 $ pro Aktie.
- Rights offering provides existing shareholders opportunity to purchase additional shares at a discount
- Over-subscription privilege available for shareholders who exercise all primary subscription rights
- Rights will be transferable and traded on NYSE under symbol NXG RT
- Monthly distribution of $0.54 per share maintained
- Offering expenses will be borne indirectly by Fund shareholders
- New shares issued after August 4, 2025 will not receive the August distribution
- Potential dilution for shareholders who do not participate in the rights offering
Insights
NXG announced a rights offering allowing shareholders to buy discounted shares, plus changed the August distribution record date to August 4th.
NXG NextGen Infrastructure Income Fund has announced a transferable rights offering that will allow existing shareholders to purchase additional fund shares at a discount of 5% to the market price (subject to a sales load). For every three rights received, shareholders can subscribe for one new common share, with the record date expected to be July 21, 2025.
This rights offering represents a strategic capital raising effort by the fund. The board approved this approach based on the investment adviser's belief that additional capital would enable the fund to capitalize on current and future investment opportunities aligned with its objective of high total return with emphasis on current income.
The subscription price will be calculated as 95% of the average closing price over the expiration date and four preceding trading days. However, if this formula price falls below 90% of NAV, the subscription price will be set at 90% of NAV, establishing a floor for the offering.
Importantly, the fund has also changed the record date for its August distribution from August 15th to August 4th, 2025. The distribution amount remains unchanged at
For existing shareholders, this offering provides an opportunity to increase their position at a discount while maintaining their proportionate ownership. However, the fund will bear the expenses associated with the offering, which will indirectly impact all shareholders. Also noteworthy is that new shares issued after August 4th through this offering will not receive the August distribution.
The record date for the Offer is currently expected to be July 21, 2025 (the "Record Date"). The Fund will distribute to Common Shareholders on the Record Date ("Record Date Common Shareholders") one Right for each Common Share held on the Record Date. Common Shareholders will be entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owns fewer than three Common Shares as of the Record Date will be entitled to subscribe for one Common Share. Fractional Common Shares will not be issued.
The proposed subscription period will commence on the Record Date and is currently anticipated to expire on August 13, 2025, unless extended by the Fund (the "Expiration Date"). Rights may be exercised at any time during the subscription period. The Rights are transferable and are expected to be admitted for trading on the New York Stock Exchange LLC (the "NYSE") under the symbol "NXG RT" during the course of the Offer.
The subscription price per Common Share (the "Subscription Price") will be determined on the Expiration Date, and will be equal to
Record Date Common Shareholders who exercise all of their primary subscription Rights will be eligible for an over-subscription privilege entitling Record Date Common Shareholders to subscribe, subject to certain limitations and allotment, for any additional Common Shares not purchased pursuant to the primary subscription.
The Offer will be made only by means of a prospectus supplement and accompanying prospectus. The Fund expects to mail subscription certificates evidencing the Rights and a copy of the prospectus supplement and accompanying prospectus for the Offer to Record Date Common Shareholders within
The Fund will pay expenses associated with the Offer which will be borne indirectly by the Fund's Common Shareholders.
The Fund reserves the right to modify, postpone or cancel the Offer.
August Distribution Record Date Change. The Fund has previously declared a monthly distribution of
Record Date | Ex-Dividend Date | Pay Date | Distribution | Return of Capital |
August 4, 2025 | August 4, 2025 | August 29, 2025 |
1 The return of capital estimate is based on the Fund's current anticipated earnings and profits for the fiscal year and does not include a projection of gains and losses on the sale of securities which may occur during the remainder of the year. It is currently anticipated, but not certain, that approximately
The distribution shall be paid on the payment date unless the payment of such distribution is deferred by the Fund's Board of Trustees upon a determination that such deferral is required in order to comply with applicable law or to ensure that the Fund remains solvent and able to pay its debts as they become due and continue as a going concern.
The August distribution will not be payable with respect to Common Shares that are issued pursuant to the Offer after August 4, 2025.
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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, once the registration statement has become effective. Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. The Fund's prospectus supplement and accompanying prospectus, when available, will contain this and additional information about the Fund and additional information about the Offer, and should be read carefully before investing. For further information regarding the Offer, or to obtain a prospectus supplement and the accompanying prospectus, when available, please contact the Fund's information agent:
EQ Fund Solutions, LLC
55 Challenger Road, Suite 201
(800) 290-6429
About NXG Investment Management
The Investment Adviser is an SEC-registered investment adviser headquartered in
About NXG NextGen Infrastructure Income Fund
The Fund is a 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 achieve its investment objective by investing, under normal market conditions, at least
There can be no assurance that the Fund will achieve its investment objectives. Investments in the Fund involve operating expenses and fees. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Future distributions will be made by the Fund if and when declared by the Fund's Board of Trustees, based on a consideration of number of factors, including the Fund's continued compliance with terms and financial covenants of its leverage financing facility, the Fund's net investment income, financial performance, and available cash.
There can be no assurance that the amount or timing of distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of distributions in the future.
The Fund utilizes leverage as part of its investment strategy. There can be no assurance that the Fund will achieve its investment objectives.
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 the Investment Adviser 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 Fund'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 the Investment Adviser do not assume a duty to update these forward-looking statements.
For information about the Fund, please contact your financial advisor.
Contact:
Blake Nelson
Cushing® Asset Management, LP
214-692-6334
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE
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SOURCE NXG Investment Management