KYN - Kayne Anderson Energy Infrastructure Fund Announces Completion of Merger with Kayne Anderson NextGen Energy & Infrastructure | Benzinga
HOUSTON, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE:KYN) announced today the completion of the merger of Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE:KMF) with KYN (the "Merger").
KMF was merged with and into a wholly owned subsidiary of KYN, and KMF stockholders received either (i) newly issued common stock of KYN ("Stock Consideration") or (ii) cash ("Cash Consideration"), subject to the adjustment and proration procedures as set forth in the merger agreement. The exchange rate for Stock Consideration was based on each fund's relative net asset value ("NAV") per share as of November 10, 2023, and the per share Cash Consideration was based on 95% of the NAV per share of KMF's common stock as of the same date, as listed below:
| Surviving Fund |
| NAV per share |
| Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) |
| $9.93216229 |
| Target Fund |
| Kayne Anderson NextGen Energy & Infrastructure, Inc. (KMF) |
| $8.16872930 |