Tortoise Capital Announces Shareholder Approval of Closed-End Fund Mergers and Conversion to Actively Managed ETF
Tortoise Energy Independence Fund, Inc. (NDP)
US:NYSE Investor Relations:
closedendfunds.tortoiseadvisors.com/ndp/overview
Company Research
Source: PR Newswire
OVERLAND PARK, Kan., Dec. 5, 2024 /PRNewswire/ -- Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on energy investing, today announced it received shareholder approval of two strategic fund merger proposals involving closed-end funds and the conversion to an actively managed ETF. These changes align with the firm's commitment to providing innovative investment solutions that are intended to enhance shareholder value and operational efficiency. Subject to the satisfaction of certain customary closing conditions, Tortoise Capital expects the mergers and ETF conversion to become effective, and trading of the merged funds will cease, before the market opens on Dec. 23, 2024.Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) and Tortoise Energy Infrastructure Corp. (NYSE: TYG) will merge, with TYG emerging as the continuing fund, with combined total assets under management (AUM) on a pro forma basis of $1.1 billion as of Nov. 29, 2024. TYG will retain its origina
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Sec Filings
- 11/25/24 - Form 425
- 11/25/24 - Form 8-K
- 10/25/24 - Form NPORT-P
- NDP's page on the SEC website