Tortoise Energy Infrastructure Issues 4.28M Shares, Expected to Raise $180.8M
Tortoise Energy Infrastructure announced the preliminary results of its transferable rights offering, which commenced on May 20, 2026, and expired on June 17. Based on preliminary information, the Offer is expected to result in the issuance of approximately 4.28M shares of the Company's common stock, including notices of guaranteed delivery, resulting in anticipated gross proceeds to the Fund of approximately $180.8M. The final number of Common Shares issued, and the final proceeds received by the Company remain subject to verification and completion of the subscription process. The Company expects to announce the final results of the Offer at a later date. The Company intends to invest the net proceeds of the Offer, together with any associated increase in borrowings, in accordance with its investment objectives and policies and for general corporate purposes. The subscription price for the Common Shares issued pursuant to the Offer was $42.24 per Common Share and was determined based upon 90% of the average of the Company's net asset value per Common Share at the close of trading on the New York Stock Exchange on the Expiration Date and each of the four preceding trading days. Common Shares will be issued promptly after receipt of all stockholder payments and completion of the pro-rata allocation of Common Shares in respect of the over-subscription privilege.
