NXG NextGen Infrastructure Income Fund (NYSE: NXG) Announces the Preliminary Results of its Rights Offering

Rhea-AI Summary

NXG NextGen Infrastructure Income Fund (NYSE: NXG) announced preliminary results of its transferable rights offering that ran April 6–April 30, 2026. Rights holders could subscribe for up to 1,930,837 common shares at a subscription price of $58.45 (92% of NAV on the Expiration Date).

The Offer closed with 1,539,655 Common Shares issued and gross proceeds expected to be approximately $90 million. The Fund intends to invest net proceeds in line with its investment objective; shares will be issued after receipt of shareholder payments.

Positive

• Issued 1,539,655 Common Shares through the rights offering
• Gross proceeds expected of approximately $90 million
• Subscription price set at $58.45, enabling capital raise
• Proceeds intended to be invested according to the Fund's investment objective

Negative

• Rights priced at 92% of NAV, indicating subscription occurred at a discount to NAV
• Issued shares increase outstanding share count, which may dilute existing holders

News Market Reaction – NXG

-0.24%

-0.24% Session close to close

In the May 1 session, NXG declined 0.24%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details the completed transferable rights offering, with 1,539,655 new shares issu...

Analysis

This announcement details the completed transferable rights offering, with 1,539,655 new shares issued at a subscription price of $58.45 and expected gross proceeds of about $90 million. Historically, similar offerings around NXG have produced modest single-day declines averaging -1.3%, reflecting sensitivity to dilution. Investors may track how efficiently the new capital is deployed within the fund’s infrastructure strategy and how the enlarged equity base affects distributions and future capital-raising needs.

Key Figures

Maximum shares offered: 1,930,837 shares Subscription price: $58.45 per share NAV pricing floor: 92% of NAV +5 more

8 metrics

Maximum shares offered 1,930,837 shares Transferable rights offering capacity

Subscription price $58.45 per share Determined as 92% of NAV on Expiration Date

NAV pricing floor 92% of NAV Pricing basis for the rights offering

Shares issued 1,539,655 shares Total common shares issued in the offering

Gross proceeds $90 million Expected total gross proceeds from the offering

Par value $0.001 per share Common Shares of Beneficial Interest

Offer commencement April 6, 2026 Start date of the rights offering period

Offer expiration April 30, 2026 Expiration Date for exercising rights

Previous Offering Reports

3 past events · Latest: Mar 26 (Negative)

Same Type Pattern 3 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 26	Rights offering terms	Negative	-1.2%	Announced detailed terms and pricing formula for new transferable rights offering.
Aug 14	Rights offering results	Negative	-1.2%	Reported completion and gross proceeds of oversubscribed transferable rights offering.
Jan 28	ATM program launch	Negative	-1.5%	Established at-the-market common share offering program to raise additional capital.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Offering-related announcements have historically led to modest single-day share price declines of around 1–1.5% for NXG.

Recent Company History

Over the past year, NXG has repeatedly used equity offerings to raise capital. A January 2025 at-the-market program and rights offerings in August 2025 and March 26, 2026 all produced single-day declines of about 1–1.5%. These transactions expanded investable assets while aligning with the fund’s infrastructure-focused mandate. Today’s preliminary results for the latest rights offering build directly on the March terms, showing execution progress on a capital-raising strategy that has been in place since early 2025.

Key Terms

transferable rights offering, net asset value, par value, common shares of beneficial interest, +1 more

5 terms

transferable rights offering financial

"announced the preliminary results of its transferable rights offering (the "Offer")."

A transferable rights offering is a company raising money by giving existing shareholders tradable tokens called “rights” that let them buy new shares at a set price. Think of it like a coupon that shareholders can either use to buy discounted stock, sell to someone else, or let expire; it matters to investors because exercising preserves ownership percentage while selling can provide cash, and the overall offering can dilute share value for those who do nothing.

net asset value financial

"determined based upon 92% of the Fund's net asset value per Common Share at the close"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

View in glossary

par value financial

"common shares of beneficial interest, par value $0.001 per share ("Common Shares")."

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

common shares of beneficial interest financial

"aggregate of 1,930,837 of the Fund's common shares of beneficial interest, par value"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

prospectus regulatory

"This document is not an offering, which can only be made by a prospectus."

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

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DALLAS, May 1, 2026 /PRNewswire/ --The NXG NextGen Infrastructure Income Fund (NYSE: NXG) (the "Fund") announced the preliminary results of its transferable rights offering (the "Offer"). The Offer commenced on April 6, 2026, and expired on April 30, 2026 (the "Expiration Date"). The Offer entitled rights holders to subscribe for up to an aggregate of 1,930,837 of the Fund's common shares of beneficial interest, par value $0.001 per share ("Common Shares"). The subscription price was $58.45 per Common Share and was determined based upon 92% of the Fund's net asset value per Common Share at the close of trading on the New York Stock Exchange on the Expiration Date.

The Offer was successfully completed, with a total of 1,539,655 Common Shares issued. Gross proceeds of the Offer are expected to be approximately $90 million. The Fund intends to invest the net proceeds of the Offer in accordance with its investment objective and policies. Common Shares will be issued promptly following receipt of all shareholder payments.

This document is not an offer to sell any securities and is not soliciting an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a prospectus. Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. Such information, including other information about the Fund, can be found on file with the Securities and Exchange Commission and should be read carefully before investing.

About NXG Investment Management

The Investment Adviser is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts. Cushing Asset Management, LP is doing business as NXG Investment Management, providing Next Generation investment strategies to investors seeking long-term growth in companies focused on a clean and sustainable future as well as traditional and transformational infrastructure companies.

About NXG NextGen Infrastructure Income Fund

The Fund is a closed-end management investment company with an investment objective of seeking a high total return with an emphasis on current income. The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in a portfolio of equity and debt securities of infrastructure companies, including: (i) energy infrastructure companies, (ii) industrial infrastructure companies, (iii) sustainable infrastructure companies, and (iv) technology and communication infrastructure companies. The Fund will invest no more than 25% of its Managed Assets in securities of energy master limited partnerships ("MLPs") that qualify as publicly traded partnerships under the Internal Revenue Code. The Fund's shares are traded on the New York Stock Exchange under the symbol "NXG."

There can be no assurance that the Fund will achieve its investment objectives. Investments in the Fund involve operating expenses and fees. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value.

The Fund utilizes leverage as part of its investment strategy. There can be no assurance that the Fund will achieve its investment objectives.

For information about the Fund, please contact your financial advisor.

Contact:
Blake Nelson
NXG Investment Management
214-692-6334
www.nxgim.com

NOT FDIC INSURED                    NO BANK GUARANTEE              MAY LOSE VALUE

View original content:https://www.prnewswire.com/news-releases/nxg-nextgen-infrastructure-income-fund-nyse-nxg-announces-the-preliminary-results-of-its-rights-offering-302759819.html

SOURCE NXG Investment Management

FAQ

What were the results of NXG's rights offering that closed April 30, 2026?

The Offer closed with 1,539,655 Common Shares issued and gross proceeds of about $90 million. According to the company, the Offer expired April 30, 2026 and shares will be issued after receipt of payments.

How was NXG's subscription price determined for the April 2026 rights offering (NXG)?

The subscription price was $58.45, set at 92% of NAV at the close on the Expiration Date. According to the company, the price equals 92% of the Fund's net asset value per share.

How many shares were available versus issued in NXG's April 2026 rights offering?

Holders could subscribe for up to 1,930,837 Common Shares, and the Fund issued 1,539,655 Common Shares. According to the company, the Offer did not reach the maximum subscription amount.

What will NXG do with the net proceeds from the rights offering (NYSE: NXG)?

The Fund intends to invest the net proceeds in accordance with its investment objective and policies. According to the company, funds will be deployed consistent with existing investment guidelines.

When will NXG common shares from the rights offering be issued to investors?

Common Shares will be issued promptly after the Fund receives all shareholder payments. According to the company, issuance timing depends on receipt and verification of subscription payments.