Kayne Anderson MLP Investment Co., Houston, (NYSE: KYN) reports that the underwriters of its common stock offering exercised their option to purchase an additional 793,877 shares at a price of $26.30 per share.
The option was granted to the underwriters in connection with the company's public offering of approximately 7.25 million shares of common stock which closed on Aug. 11.
The company received approximately $20 million in total net proceeds from the over-allotment option, which will be used to make additional portfolio investments that are consistent with the company's investment objective and for general corporate purposes.
Kayne Anderson Energy Total Return is a non-diversified, closed-end fund that invests in energy-related U.S. and Canadian royalty trusts and income trusts.
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