NextGen Infrastructure Income Fund Issues 1.54M Shares Raising $90M
The Fund issued 1,539,655 common shares at $58.45 per share in its rights offering, raising approximately $90 million. The subscription price equaled 92% of net asset value as of April 30 and net proceeds will be deployed according to the Fund’s infrastructure investment policies.
1. Rights Offering Results
The Fund conducted a transferable rights offering from April 6 to April 30, entitling holders to subscribe for up to 1,930,837 common shares at $58.45 per share, representing 92% of net asset value. The offering resulted in the issuance of 1,539,655 shares, generating gross proceeds of approximately $90 million.
2. Share Issuance and Proceeds
Issued shares will be delivered promptly after receipt of all shareholder payments. Net proceeds will be invested under the Fund’s objective to seek high total return with an emphasis on current income through infrastructure securities.
3. Fund Investment Strategy
The Fund aims to invest at least 80% of net assets in equity and debt of energy, industrial, sustainable and technology infrastructure companies, while capping energy master limited partnership holdings at 25% of managed assets to balance income and growth objectives.