Kayne Anderson MLP Investment Company Prices Public Follow-On Offering of Common Stock
April 05 2011 - 8:48AM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:
KYN) announced the pricing of a public offering of common stock.
The Company agreed to sell a total of 5,700,000 shares at a price
of $30.58 per share (exclusive of 855,000 shares that the
underwriters may purchase pursuant to a 45-day option to cover
over-allotments). Net proceeds from the offering of approximately
$167 million will be used to make additional portfolio investments
that are consistent with the Company’s investment objective and
policies and for general corporate purposes. The offering is
scheduled to close on April 8, 2011.
Citi, BofA Merrill Lynch, Morgan Stanley and UBS Investment Bank
are acting as joint book-running managers. A copy of the prospectus
supplement and the base prospectus relating to the offering may be
obtained from the following addresses:
Citi
Attn: Prospectus Department
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, NY 11220
Telephone: 800-831-9146
Email: batprospectusdept@citi.com
BofA Merrill Lynch
Attn: Prospectus Department
4 World Financial Center
New York, NY 10080
Email: dg.prospectus_requests@baml.com
Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Email: prospectus@morganstanley.com
Telephone: 866-718-1649
UBS Investment Bank
Attn: Prospectus Department
299 Park Avenue
New York, NY 10171
Telephone: 888-827-7275
Investors may also obtain these documents free of charge from
the Company’s website at www.kaynefunds.com/KynSECFilings.php or
the Securities and Exchange Commission’s (“SEC”) website at
www.sec.gov.
An investor should read the Company’s prospectus supplement and
the base prospectus carefully before investing. The prospectus
supplement and the base prospectus contain important information
about the Company and its investment objective and policies, risks,
charges and expenses.
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 SEC.
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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