NXG Cushing® Midstream Energy Fund (NYSE: SRV) Announces the Preliminary Results of its Rights Offering

Core Points - The NXG Cushing Midstream Energy Fund announced the preliminary results of its transferable rights offering, which was oversubscribed and allowed rights holders to subscribe for up to 1,555,870 common shares at a subscription price of $39.89 per share, based on 92.5% of the Fund's net asset value at the close of trading on the expiration date [1][2] Group 1: Offering Details - The rights offering commenced on November 17, 2025, and expired on December 11, 2025 [1] - Gross proceeds from the offering are expected to be approximately $62,000,000, which will be invested in accordance with the Fund's investment objectives and policies [2] Group 2: Fund Overview - The NXG Cushing Midstream Energy Fund is a non-diversified, closed-end management investment company aiming for high after-tax total returns through capital appreciation and current income [5] - The Fund invests at least 80% of its managed assets in midstream energy investments, which include services related to the gathering, transporting, processing, and distribution of natural resources [5] - The Fund's common shares are traded on the NYSE under the symbol "SRV" and utilize leverage as part of its investment strategy [5]