Tortoise Energy Infrastructure Corporation TYG announced today that Stifel Nicolaus & Company Incorporated, along with Lehman Brothers, RBC Capital Markets, and Oppenheimer have purchased an additional 1,600,000 common shares to cover over-allotments.
These purchases were part of Tortoise Energy's Initial Public Offering of Common Stock that was managed by Stifel Nicolaus & Company (book running manager), Lehman Brothers, RBC Capital Markets, and Oppenheimer as Co-Lead Managers. In total, Tortoise Energy has issued $315,000,000 in common shares at $25.00 per share less the underwriting discount. Net proceeds to Tortoise Energy after all expenses were $301,000,000.
Tortoise Energy is a diversified closed-end management investment company whose investment objective is to seek a high level of total return with an emphasis on current distributions paid to its shareholders. Tortoise Energy invests primarily in securities of master limited partnerships in the energy-infrastructure sector using its proprietary and patent-pending portfolio management system.
This press release shall not constitute an offer to sell or a solicitation to buy, 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.
For more complete information about Tortoise Energy or its common share offering, including charges and expenses, or for copies of the final prospectus relating to the offering, please contact Stifel, Nicolaus & Company, Incorporated, 501 North Broadway, St. Louis, MO 63102.
The foregoing may contain forward-looking statements. There is no assurance that Tortoise Energy's investment objectives will be obtained.
Contact Information: Tortoise Capital Advisors, LLC David J. Schulte, 913-981-1020