Kayne Anderson MLP Investment Company Announces Exercise by the Underwriters of the Option to Purchase Additional Common Stock
September 09 2010 - 8:10PM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:
KYN) announced today that the underwriters of its common stock
offering exercised their option to purchase an additional 793,877
shares at a price of $26.30 per share. The option was granted to
the underwriters in connection with the Company’s public offering
of 7,250,000 shares of common stock which closed on August 11,
2010. Today the Company received approximately $20 million in total
net proceeds from the over-allotment option which will be used to
make additional portfolio investments that are consistent with the
Company’s investment objective and for general corporate
purposes.
This press release does not constitute an offer to sell or a
solicitation to buy the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer or solicitation or sale would be unlawful prior
to registration or qualification under the laws of such state or
jurisdiction. A registration statement relating to these securities
was filed with, and has been declared effective by, the Securities
and Exchange Commission.
Kayne Anderson MLP Investment Company is a non-diversified,
closed-end management investment company registered under the
Investment Company Act of 1940, whose common stock is traded on the
New York Stock Exchange. The Company's investment objective is to
obtain a high after-tax total return by investing at least 85% of
its total assets in energy-related master limited partnerships and
their affiliates (collectively, “MLPs”), and in other companies
that, as their principal business, operate assets used in the
gathering, transporting, processing, storing, refining,
distributing, mining or marketing of natural gas, natural gas
liquids, crude oil, refined petroleum products or coal.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press
release contains "forward-looking statements" as defined under the
U.S. federal securities laws. Generally, the words "believe,"
"expect," "intend," "estimate," "anticipate," "project," "will" and
similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ from the Company's historical experience
and its present expectations or projections indicated in any
forward-looking statements. These risks include, but are not
limited to, changes in economic and political conditions;
regulatory and legal changes; MLP industry risk; leverage risk;
valuation risk; interest rate risk; tax risk; and other risks
discussed in the Company's filings with the SEC. You should not
place undue reliance on forward-looking statements, which speak
only as of the date they are made. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements made herein. There is no assurance that the Company's
investment objective will be attained.
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