ClearBridge Energy Midstream Opportunity Fund Inc. - EMO STOCK NEWS

ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) has announced the final results of its issuer tender offer, which expired on June 20, 2024. The Tender Offer aimed to repurchase up to 50% of its outstanding common stock shares. A total of 7,259,865 shares were tendered, exceeding the 6,393,645 shares limit, resulting in an oversubscription. Consequently, approximately 88.08% of shares from each stockholder who tendered their shares were accepted for repurchase at a price of $44.45 per share, equating to 100% of the per share net asset value as of June 20, 2024. Payment for the accepted shares is scheduled for June 25, 2024. Shares not tendered remain outstanding.

ClearBridge MLP and Midstream Fund (NYSE: CEM) announced the final results of its tender offer for up to 50% of its outstanding shares. The offer, which expired on June 20, 2024, saw the acceptance of 5,807,371 shares, representing approximately 44% of the Fund's outstanding shares, at a price of $49.60 per share. Payment will be made on or about June 25, 2024. Shares not tendered will remain outstanding.

Additionally, the Fund’s Board has approved a merger with ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) and ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR), subject to stockholder and regulatory approvals. The merger is expected to become effective on August 19, 2024, pending the satisfaction of all conditions.

ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) announced the preliminary results of its issuer tender offer, which expired on June 20, 2024. Approximately 7,259,865 shares were tendered, surpassing the 6,393,645 share limit, leading to a prorated purchase. The final purchase price will be based on the June 20 net asset value, with payment expected by June 25, 2024. Additionally, the Fund's merger with ClearBridge MLP and Midstream Fund (CEM) and ClearBridge MLP and Midstream Total Return Fund (CTR) was approved by shareholders and is anticipated to be effective by August 19, 2024.

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) has announced the preliminary results of its issuer tender offer, which expired on June 20, 2024. Approximately 3,774,769 shares were tendered, exceeding the offer for up to 50% of outstanding shares (3,443,416 shares). Consequently, tenders will be accepted on a pro rata basis. The purchase price will be 100% of the per share net asset value as of the close on June 20, 2024, with payments expected around June 25, 2024. Additionally, the Fund is set to merge with ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) and ClearBridge MLP and Midstream Fund (NYSE: CEM) into EMO, with the merger targeted for August 19, 2024, following stockholder approval and regulatory compliance.

ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) announced its unaudited financials as of May 31, 2024. The Fund reported net assets of $567.7 million and a net asset value (NAV) per share of $44.39. Investments totaled $588.9 million, with cash and equivalents at $38.1 million. The asset coverage ratio for senior indebtedness was 2,939%, and for total leverage, it was 1,058%. Major holdings included Energy Transfer LP, Targa Resources Corp, and ONEOK Inc., comprising a significant portion of the investment portfolio. Managed by Franklin Templeton Fund Adviser and ClearBridge Investments, the Fund provides semi-annual and annual reports to the SEC.

ClearBridge Energy Midstream Opportunity Fund announced a cash tender offer for up to 50% of its outstanding shares at 100% of the net asset value (NAV) per share. The offer began on May 21, 2024, and will expire on June 20, 2024, unless extended. If oversubscribed, shares will be repurchased on a pro rata basis. To ensure timely payment for repurchased shares, the Fund plans to reposition its portfolio orderly. The offer's terms are detailed in documents filed with the SEC, which shareholders should review. There's no guarantee the repurchases will reduce or eliminate the discount between market price and NAV.

ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO), ClearBridge MLP and Midstream Fund (NYSE: CEM), and ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) announced the results of stockholder votes at a special meeting on May 17, 2024.

Stockholders approved the merger of CEM and CTR into EMO. Upon completion, CEM and CTR shares will convert into full shares of EMO based on net asset value, with cash paid for fractional shares.

EMO will issue new Mandatory Redeemable Preferred Stock (MRPS) to CEM and CTR holders, aligning voting rights. The funds are managed by Franklin Templeton Fund Adviser, with ClearBridge Investments as subadvisor. This move consolidates management under EMO, potentially streamlining operations and reducing costs.

ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) released unaudited balance sheet information as of April 30, 2024, showing net assets of $557.2 million, net asset value per share at $43.57, and asset coverage ratios of 1,120% for senior indebtedness and 679% for total leverage.

Franklin Templeton Fund Adviser, announced distributions for May 2024 for closed end funds. Record Date: 5/23/2024, Ex-Dividend Date: 5/22/2024, Payable Date: 5/31/2024. Ticker Fund Name Amount: CEM ClearBridge MLP and Midstream Fund Inc. $0.7700, EMO ClearBridge Energy Midstream Opportunity Fund Inc. $0.6700, CTR ClearBridge MLP and Midstream Total Return Fund Inc. $0.7000. Distributions may be dividend income, return of capital, or a combination. Stockholders will receive Form 1099-DIV in early 2025 for tax reporting. Franklin Templeton Fund Adviser, is a subsidiary of Franklin Resources, Inc. Fund share price fluctuates with market conditions. Shares often trade at a discount. All investments carry risk.