Kayne Anderson MLP Investment Company Prices Public Follow-On Offering of Common Stock
March 07 2013 - 8:13AM
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 4,500,000 shares at a price
of $33.36 per share (exclusive of 675,000 additional shares that
the underwriters may purchase pursuant to a 45-day option to cover
over-allotments). Net proceeds from the offering of $144.1 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 schedule to close
on March 12, 2013.
Citigroup, 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:
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 800-831-9146
Email: batprospectusdept@citi.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/kyn/sec-filings/ 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.
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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