NXG NextGen Infrastructure Income Fund (NYSE: NXG) Announces At-the-Market Offering Program
NXG NextGen Infrastructure Income Fund (NYSE: NXG) has announced the establishment of an at-the-market offering program for its common shares through Foreside Fund Services, The Fund will offer common shares with a par value of $0.001 per share, with proceeds to be invested according to its investment objectives.
The Fund focuses on achieving high total returns with an emphasis on current income by investing at least 80% of its net assets in infrastructure companies across four sectors: energy, industrial, sustainable, and technology/communication infrastructure. The Fund limits its investment in energy master partnerships (MLPs) to 25% of Managed Assets.
Common shareholders will indirectly bear the expenses associated with this offering. The offering will be conducted under the Fund's effective SEC registration statement, with a prospectus supplement dated January 27, 2025.
NXG NextGen Infrastructure Income Fund (NYSE: NXG) ha annunciato l'istituzione di un programma di offerta al mercato per le sue azioni ordinarie tramite Foreside Fund Services. Il Fondo offrirà azioni ordinarie con un valore nominale di $0.001 per azione, con i proventi che saranno investiti in accordo con i suoi obiettivi di investimento.
Il Fondo si concentra sul raggiungimento di elevati rendimenti totali con un'enfasi sul reddito attuale, investendo almeno l'80% delle sue attività nette in aziende infrastrutturali suddivise in quattro settori: energia, industriale, sostenibile e infrastrutture tecnologiche/comunicative. Il Fondo limita il proprio investimento in partnership principali energetiche (MLPs) al 25% delle Attività Gestite.
Gli azionisti comuni sosterranno indirettamente le spese associate a questa offerta. L'offerta sarà condotta sotto l'efficace dichiarazione di registrazione SEC del Fondo, con un prospetto supplementare datato 27 gennaio 2025.
NXG NextGen Infrastructure Income Fund (NYSE: NXG) ha anunciado el establecimiento de un programa de oferta en el mercado para sus acciones comunes a través de Foreside Fund Services. El Fondo ofrecerá acciones comunes con un valor nominal de $0.001 por acción, con los ingresos que se invertirán de acuerdo con sus objetivos de inversión.
El Fondo se centra en lograr altos rendimientos totales con énfasis en ingresos actuales, invirtiendo al menos el 80% de sus activos netos en empresas de infraestructura en cuatro sectores: energía, industrial, sostenible y tecnología/infraestructura de comunicación. El Fondo limita su inversión en sociedades de responsabilidad limitada (MLPs) energéticas al 25% de los Activos Gestionados.
Los accionistas comunes soportarán indirectamente los gastos asociados con esta oferta. La oferta se llevará a cabo bajo la declaración de registro efectiva de la SEC del Fondo, con un suplemento de prospecto fechado el 27 de enero de 2025.
NXG NextGen Infrastructure Income Fund (NYSE: NXG)는 Foreside Fund Services를 통해 일반 주식의 시장가 접수 프로그램을 설정한다고 발표했습니다. 이 기금은 주당 0.001 달러의 액면가를 가진 일반 주식을 제공하며, 수익은 투자 목표에 따라 투자됩니다.
이 기금은 에너지, 산업, 지속 가능한 자원 및 기술/통신 인프라의 네 가지 섹터에 걸쳐 인프라 회사에 순 자산의 최소 80%를 투자하여 높은 총 수익 달성에 초점을 맞추고 있습니다. 이 기금은 에너지 마스터 파트너십(MLPs)에 대한 투자를 관리 자산의 25%로 제한합니다.
일반 주주들은 이번 제안과 관련된 비용을 간접적으로 부담하게 됩니다. 이 제안은 기금의 유효한 SEC 등록 서류에 따라 수행되며, 2025년 1월 27일자로 된 요약서가 포함됩니다.
NXG NextGen Infrastructure Income Fund (NYSE: NXG) a annoncé l'établissement d'un programme d'offre au marché pour ses actions ordinaires par l'intermédiaire de Foreside Fund Services. Le Fonds proposera des actions ordinaires avec une valeur nominale de 0,001 $ par action, les recettes étant investies conformément à ses objectifs d'investissement.
Le Fonds met l'accent sur l'obtention de rendements totaux élevés en se concentrant sur des revenus actuels en investissant au moins 80 % de ses actifs nets dans des entreprises d'infrastructure réparties en quatre secteurs : énergie, industriel, durable et technologie/infrastructures de communication. Le Fonds limite son investissement dans des partenariats maîtres énergétiques (MLPs) à 25 % des actifs gérés.
Les actionnaires ordinaires supporteront indirectement les frais associés à cette offre. L'offre sera réalisée dans le cadre de la déclaration d'enregistrement SEC effective du Fonds, avec un supplément de prospectus daté du 27 janvier 2025.
NXG NextGen Infrastructure Income Fund (NYSE: NXG) hat die Einrichtung eines at-the-market Angebotsprogramms für seine Stammaktien über Foreside Fund Services angekündigt. Der Fonds wird Stammaktien mit einem Nennwert von 0,001 US-Dollar pro Aktie anbieten, wobei die Erlöse gemäß seinen Anlagezielen investiert werden.
Der Fonds konzentriert sich darauf, hohe Gesamtrenditen mit einem Schwerpunkt auf aktuellem Einkommen zu erzielen, indem er mindestens 80 % seines Nettovermögens in Infrastrukturunternehmen in vier Sektoren investiert: Energie, Industrie, nachhaltig und Technologie/Kommunikationsinfrastruktur. Der Fonds begrenzt seine Investition in energiebezogene Master-Limited Partnerships (MLPs) auf 25 % des verwalteten Vermögens.
Ordentliche Aktionäre werden indirekt die mit diesem Angebot verbundenen Kosten tragen. Das Angebot wird auf Grundlage der gültigen SEC-Registrierungsunterlagen des Fonds durchgeführt, mit einem Prospektnachtrag vom 27. Januar 2025.
- Potential for capital raising to expand investment portfolio
- Diversified infrastructure investment strategy across four sectors
- Clear investment limit of 25% in energy MLPs reducing sector concentration risk
- Potential dilution of existing shareholders
- Additional expenses from the offering to be borne by common shareholders
Insights
This at-the-market (ATM) offering announcement represents a strategic capital raising mechanism that merits careful investor attention. Unlike traditional follow-on offerings that price at a fixed point, the ATM structure provides enhanced flexibility to raise capital incrementally at prevailing market prices, potentially reducing the market impact and offering costs compared to traditional secondary offerings.
The program's structure carries several key implications for stakeholders: 1) Existing shareholders face gradual potential dilution, though the incremental nature of ATM sales typically results in less price pressure than large block offerings 2) The Fund gains strategic advantages through the ability to raise capital opportunistically when attractive infrastructure investment opportunities arise 3) The expense structure impact, while shared among all shareholders, is typically lower than traditional follow-on offerings due to reduced underwriting fees.
The Fund's investment parameters are particularly noteworthy: The 80% infrastructure investment requirement ensures focused exposure to essential economic sectors, while the 25% MLP cap helps manage tax complexity and concentration risk. This diversified approach across energy, industrial, sustainable and technology infrastructure positions the Fund to potentially benefit from multiple secular growth trends in critical infrastructure development.
The timing of this ATM program suggests management sees potential opportunities in the infrastructure sector, though the flexibility of the program means they're not committed to immediate capital deployment. This patient approach to capital raising aligns with the long-term nature of infrastructure investments.
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 January 27, 2025, 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 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
About NXG Investment Management
Cushing® Asset Management, LP ("
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
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
FAQ
What is the purpose of NXG's at-the-market offering program announced in January 2025?
How will NXG's at-the-market offering affect existing shareholders?
What are the main investment sectors for NXG NextGen Infrastructure Income Fund?
What is NXG's investment limit in energy master partnerships (MLPs)?
When did NXG file its prospectus supplement for the at-the-market offering?
