KYN - Kayne Anderson Energy Infrastructure Fund and Kayne Anderson NextGen Energy & Infrastructure Announce Approval of Proposed Merger | Benzinga
HOUSTON, Nov. 01, 2023 (GLOBE NEWSWIRE) -- KA Fund Advisors, LLC ("Kayne Anderson"), which serves as the investment adviser to Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE:KYN) and Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE:KMF), today announced that all requisite stockholder approvals have been received for the proposed merger between KYN and KMF (the "Merger"). Subject to the satisfaction of customary closing conditions, the Merger is expected to close on November 13, 2023.
Jim Baker, President, CEO and Chairman of KYN and KMF said "We are pleased to announce the approval of the Merger and believe the combined entity is well positioned to capitalize on long-term tailwinds in the energy infrastructure sector."
Upon completion of the Merger, the outstanding common stock of KMF will be exchanged for, at the election of each KMF stockholder, either (i) newly issued common stock of KYN ("Stock Consideration") or (ii) cash ("Cash Consideration" and collectively with Stock Consideration, the "Merger Consideration"). See the joint proxy statement/prospectus for additional information on how the Merger Consideration will be determined.
Notice to KMF Stockholders
If you are a record holder of KMF common stock, you should have received a form of election and related transmittal materials to make your election with respect to Cash Consideration or Stock Consideration. Based on the expected closing date of November 13, 2023, a record holder of KMF common stock has until November 6, 2023, 5:00 PM (Eastern Time) to submit an effective form of election.
If you hold shares of KMF common stock in street name (i.e., through a financial intermediary or brokerage account), you will need to follow the procedures established by your broker, bank or other nominee in order ...