Kayne Anderson Energy Infrastructure Fund Announces FMO Shareholder Approval of Merger with KYN
HOUSTON, Feb. 04, 2022 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (the "Company") (NYSE:KYN) announced today that the proposal to merge Fiduciary/Claymore Energy Infrastructure Fund (NYSE:FMO) with and into KYN has been approved by FMO shareholders. Subject to the satisfaction of customary closing conditions, the merger is expected to close on or around March 7, 2022.
Upon the closing of the merger, FMO will be merged with and into KYN, and FMO's shareholders will receive newly issued shares of KYN common stock in exchange for their shares of FMO. The exchange ratio will be based on the relative per share net asset values of FMO and KYN on the business day prior to closing.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE:KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The company's investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company's most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.
This press release is not intended to, and does not, constitute an offer to purchase or sell shares of KYN or FMO; nor is this press release intended to solicit a proxy from any shareholder of FMO. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider the specific objectives or circumstances of any investor. Please consult with your investment, tax, or legal adviser regarding your individual circumstances prior to investing.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company's filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or from our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company's investment objectives will be attained.
Contact: Investor Relations at 877-657-3863 or [email protected]
