Kayne Anderson Energy Infrastructure Fund And Kayne Anderson NextGen Energy & Infrastructure Announce Preliminary Results Of Election Of Merger Consideration
Portfolio Pulse from Benzinga Newsdesk
Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) and Kayne Anderson NextGen Energy & Infrastructure, Inc. (KMF) announced the preliminary results of the elections made by KMF stockholders regarding the merger between KYN and KMF. Approximately 54.7% of KMF stockholders elected to receive newly issued common stock of KYN or were deemed to have made this election, while approximately 45.3% elected to receive cash. The final results will be available after the merger closes, which is expected on November 13, 2023.
November 07, 2023 | 1:43 pm
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NEGATIVE IMPACT
The merger with KYN could potentially affect the liquidity of KMF shares, as stockholders who have submitted a properly completed election form may be unable to trade their shares until the merger is consummated.
The merger could potentially affect the liquidity of KMF shares, as stockholders who have submitted a properly completed election form may be unable to trade their shares until the merger is consummated. This could lead to a temporary decrease in the liquidity of KMF shares.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The merger with KMF could potentially increase the number of KYN shares in circulation, which may dilute the value of existing shares. However, the final impact will depend on the final results of the stockholder elections and the closing of the merger.
The merger could lead to an increase in the number of KYN shares if a majority of KMF stockholders elect to receive stock consideration. This could dilute the value of existing KYN shares. However, the final impact will depend on the final results of the stockholder elections and the closing of the merger.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100