OVERLAND PARK, KS / ACCESSWIRE /November 7, 2023 / Tortoise announced today the final results of cash tender offers for each of the following Funds that expired at 5:00 P.M., Eastern Time on November 1, 2023.
Fund
Tender Offer Amount
TYG
Up to 5% or 566,575 of its outstanding common shares
NTG
Up to 5% or 268,042 of its outstanding common shares
TTP
Up to 5% or 105,819 of its outstanding common shares
NDP
Up to 5% or 87,684 of its outstanding common shares
TPZ
Up to 5% or 310,008 of its outstanding common shares
The table below shows the final results for each Fund. The final results are based on a count by Computershare, the depositary for each tender offer.
Fund
Shares Properly Tendered
Shares to be Purchased
Pro-Ration Factor*
Purchase Price **
Outstanding Shares after Giving Effect to Tender Offer
TYG
5,300,271
566,575
0.1070650
$33.04
10,764,933
NTG
2,873,273
268,032 (1)
0.0934999
$39.55
5,092,810
TTP
1,074,230
105,819
0.0985840
$32.04
2,010,566
NDP
1,012,489
87,684
0.0868390
$34.85
1,666,014
TPZ
3,297,052
310,008
0.0941553
$15.11
5,890,167
*The number of shares to be purchased divided by the number of shares properly tendered. The factor is subject to rounding adjustment to avoid the purchase of fractional shares.
** Equal to 98% of the relevant Fund's net asset value per share as of the close of regular trading on the New York Stock Exchange (NYSE) on November 1, 2023 (the date the Tender Offer expired).
(1) NTG will purchase 268,032 shares, the maximum quantity of shares to purchase after pro-ration without exceeding 5% of its outstanding common shares.
Any questions related to the tender offer can be directed to Georgeson LLC, the Funds' information agent for the tender offer, at 1-877-278-9672 for TYG, 1-888-666-2580 for NTG, 1-866203-9401 for TTP, 1-866-432-2791 for NDP, and 1-877-668-1646 for TPZ.
About Tortoise
Tortoise focuses on energy & power infrastructure and the transition to cleaner energy. Tortoise's track record of energy value chain investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit .
Tortoise Capital Advisors, L.L.C. is the adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc.
For additional information on these funds, please visit cef.tortoiseecofin.com .
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 fund's 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.
Contact information For more information contact Eva Lipner at (913) 981-1020 or info@tortoiseecofin.com
Tortoise Capital Advisors, L.L.C. 是 Tortoise Energy Infrastructure Corp.、Tortoise Pipeline & Energy Fund, Inc.、Tortoise Energy Infrastructure Corp.、Tortoise Pipeline & Energy Fund, Inc
有關這些基金的更多信息，請訪問cef.tortoiseecofin.com。
關於前瞻性陳述的警示聲明
本新聞稿包含某些聲明，其中可能包括1933年《證券法》第27A條和1934年《證券交易法》第21E條所指的 “前瞻性陳述”。除歷史事實陳述外，此處包含的所有陳述均爲 “前瞻性陳述”。儘管這些基金和Tortoise Capital Advisors認爲這些前瞻性陳述中反映的預期是合理的，但它們確實涉及假設、風險和不確定性，這些預期可能被證明是不正確的。由於多種因素，包括向美國證券交易委員會提交的基金報告中討論的因素，實際業績可能與這些前瞻性陳述中的預期存在重大差異。您不應過分依賴這些前瞻性陳述，這些陳述僅代表截至本新聞稿發佈之日。除法律要求外，基金和Tortoise Capital Advisors沒有義務更新本前瞻性陳述。
聯繫信息 欲了解更多信息，請致電 (913) 981-1020 或 info@tortoiseecofin.com 與 Eva Lipner 聯繫
