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Article: The Cushing MLP Total Return Fund Announces Registered Sale of Equity.
- Article from:
- PR Newswire
- Article date:
- June 30, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS, June 30 /PRNewswire-FirstCall/ -- The Cushing MLP Total Return Fund has agreed to sell 936,090 common shares in a registered public offering at a price of $5.85 per common share. The offering price represents a 21.4% premium to the Fund's net asset value determined immediately prior to the pricing of the offering. The common shares are being sold at a discount to the market price. The Fund will receive approximately $5.416 million in net proceeds from the offering which will be invested in accordance with its investment objective and policies. The offering is subject to customary closing conditions and is expected to close on July 1, 2009, at which time the ...