Tortoise Capital Advisors Announces Completion of TYG, TYY and TYN Merger
2014年6月23日 - 7:00PM
ビジネスワイヤ(英語)
Tortoise Capital Advisors today announced the completion of the
merger of Tortoise Energy Infrastructure Corp. (NYSE: TYG),
Tortoise Energy Capital Corp. (NYSE: TYY) and Tortoise North
American Energy Corp. (NYSE: TYN).
TYG acquired substantially all of the assets and liabilities of
TYY and TYN in a tax-free transaction in exchange for an equal
aggregate value of newly issued TYG common stock and cash proceeds
for fractional shares. The exchange rates were based on each fund’s
relative net asset value (“NAV”) per share as of June 20, 2014, as
listed below:
Acquiring Fund
NAV per share
Exchange Rate*
Tortoise Energy Infrastructure Corp. (TYG) $50.950702
Acquired Funds
Tortoise Energy Capital Corp. (TYY) $38.186476 0.749479 Tortoise
North American Energy Corp. (TYN) $33.319609 0.653958
*Acquired Fund NAV per share/TYG NAV per share
Additionally, TYY preferred stockholders received an equivalent
number of newly issued TYG Series C Mandatory Redeemable Preferred
shares with terms identical to their previously held TYY Series C
Mandatory Redeemable Preferred shares.
TYG’s post-merger total assets and NAV were approximately $4.4
billion and $2.4 billion, respectively. Its NAV per share was
$50.95, with approximately 48.0 million shares outstanding.
About Tortoise Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager
specializing in listed energy investments. As of May 31, 2014, the
adviser had approximately $17.2 billion of assets under management
in NYSE-listed closed-end funds companies, open-end funds and other
accounts. For more information, visit www.tortoiseadvisors.com.
Forward-looking statement
This press release contains certain statements that may include
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are “forward-looking statements.”
Although the funds and Tortoise Capital Advisors believe that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the funds’ reports that are filed with
the Securities and Exchange Commission. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. Other than as required by law,
the funds and Tortoise Capital Advisors do not assume a duty to
update this forward-looking statement.
Safe harbor statement
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.
Tortoise Capital Advisors, L.L.C.Pam Kearney, Investor
Relations(866) 362-9331pkearney@tortoiseadvisors.com
Tortoise North American Energy (NYSE:TYN)
過去 株価チャート
から 5 2024 まで 6 2024
Tortoise North American Energy (NYSE:TYN)
過去 株価チャート
から 6 2023 まで 6 2024