NXG Cushing Midstream Energy Fund Files 8-K
Ticker: SRV · Form: 8-K · Filed: May 21, 2024 · CIK: 1400897
| Field | Detail |
|---|---|
| Company | Nxg Cushing Midstream Energy Fund (SRV) |
| Form Type | 8-K |
| Filed Date | May 21, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, corporate-action, filing
TL;DR
NXG Cushing Midstream Energy Fund filed an 8-K on 5/20 detailing material agreements and other events.
AI Summary
On May 17, 2024, NXG Cushing Midstream Energy Fund entered into a Material Definitive Agreement. The filing also includes other events and financial statements and exhibits.
Why It Matters
This filing indicates significant corporate actions or financial updates for the NXG Cushing Midstream Energy Fund, requiring investor attention.
Risk Assessment
Risk Level: low — The filing is a standard 8-K report detailing corporate events and does not inherently signal high risk.
Key Players & Entities
- NXG Cushing Midstream Energy Fund (company) — Registrant
- May 17, 2024 (date) — Date of earliest event reported
- May 20, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of incorporation
FAQ
What specific Material Definitive Agreement was entered into by NXG Cushing Midstream Energy Fund?
The filing does not specify the details of the Material Definitive Agreement, only that one was entered into on May 17, 2024.
What are the 'Other Events' mentioned in the filing?
The filing lists 'Other Events' as an item information but does not provide specific details within the provided text.
What is the significance of the 'Financial Statements and Exhibits' being included?
The inclusion of financial statements and exhibits suggests that the filing contains supporting financial data or documentation related to the reported events.
When was the NXG Cushing Midstream Energy Fund incorporated?
The NXG Cushing Midstream Energy Fund was incorporated in Delaware.
What was the previous name of the registrant?
The registrant was formerly known as Cushing MLP & Infrastructure Total Return Fund and Cushing MLP Total Return Fund.
Filing Stats: 792 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2024-05-20 17:51:53
Key Financial Figures
- $0.001 — eficial interest of the Fund, par value $0.001 per share (the "Common Shares"), from t
Filing Documents
- fp0088403-1_8kixbrl.htm (8-K) — 29KB
- fp0088403-1_ex11.htm (EX-1.1) — 85KB
- fp0088403-1_ex12.htm (EX-1.2) — 83KB
- fp0088403-1_ex51.htm (EX-5.1) — 23KB
- 0001398344-24-009919.txt ( ) — 439KB
- srv-20240520.xsd (EX-101.SCH) — 3KB
- srv-20240520_lab.xml (EX-101.LAB) — 33KB
- srv-20240520_pre.xml (EX-101.PRE) — 22KB
- fp0088403-1_8kixbrl_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. On May 17, 2024, NXG Cushing Midstream Energy Fund (NYSE:SRV) (the "Fund") entered into a distribution agreement (the "Distribution Agreement") with Foreside Fund Services, LLC (the "Distributor"), pursuant to which the Fund may offer and sell up to 175,000 common shares of beneficial interest of the Fund, par value $0.001 per share (the "Common Shares"), from time to time, through the Distributor, in transactions deemed to be "at the market" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Offering"). The minimum price on any day at which Common Shares may be sold will not be less than the then current net asset value per Common Share plus the per Common Share amount of the commission to be paid to the Distributor. Pursuant to the Distribution Agreement, the Distributor may enter into sub-placement agent agreements with one or more selected dealers. The Distributor has entered into a sub-placement agent agreement, dated May 17, 2024 (the "Sub-Placement Agent Agreement"), with UBS Securities LLC (the "Sub-Placement Agent") relating to the Common Shares to be offered under the Distribution Agreement. The Offering is being made pursuant a prospectus supplement, dated May 17, 2024 and the accompanying prospectus, dated November 13, 2023, each of which constitute part of the Fund's effective shelf registration statement on Form N-2 (File No. 333-273954) previously filed with the Securities and Exchange Commission (the "Registration Statement"). The foregoing descriptions of the Distribution Agreement and the Sub-Placement Agent Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Distribution Agreement filed with this report as Exhibit 1.1 and incorporated herein by reference, and the full text of the Sub-Placement Agent Agreement filed with this report as Exhibit 1.2 and incorporated herein by reference.
01
Item 8.01. Other Events On May 17, 2024, the Fund commenced the Offering pursuant to the Fund's Registration Statement. A copy of the opinion of Skadden, Arps, Slate, Meagher & Flom LLP relating to the legality of the Common Shares is filed as Exhibit 5.1 to this report. The Fund incorporates by reference the exhibits filed herewith into the Registration Statement.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits 1.1 Distribution Agreement between the Registrant and Foreside Fund Services, LLC 1.2 Sub-Placement Agent Agreement between Foreside Fund Services, LLC and UBS Securities LLC 5.1 Opinion of Skadden, Arps, Slate, Meagher & Flom LLP 23.1 Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NXG CUSHING MIDSTREAM ENERGY FUND Date: May 20, 2024 By: /s/ Blake Nelson Name: Blake Nelson Title: Chief Financial Officer, Treasurer and Secretary