NXG Cushing Midstream Energy Fund (SRV) sets up ATM offering for 1.5M shares
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
NXG Cushing Midstream Energy Fund entered into a distribution agreement with Foreside Fund Services, LLC allowing the fund to offer and sell up to 1,500,000 common shares of beneficial interest, par value $0.001 per share, in an "at the market" offering under Rule 415.
Common shares will be sold at prices not less than the then current net asset value per share plus the per-share commission payable to the distributor. Foreside may use sub-placement agents and has appointed UBS Securities LLC under a sub-placement agent agreement dated July 10, 2026.
The offering commenced on July 10, 2026 under the fund’s effective shelf registration statement on Form N-2, using a prospectus dated November 12, 2025 and a prospectus supplement dated July 10, 2026. A legal opinion regarding the validity of the common shares has been filed as an exhibit.
Positive
- None.
Negative
- None.
8-K Event Classification
3 items: 1.01, 8.01, 9.01
3 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
ATM Capacity: 1,500,000 common shares
Par Value per Share: $0.001 per share
Form N-2 File Number: File No. 333-286482
+2 more
5 metrics
ATM Capacity
1,500,000 common shares
Maximum number of common shares that may be sold under the distribution agreement
Par Value per Share
$0.001 per share
Par value of the fund’s common shares of beneficial interest
Form N-2 File Number
File No. 333-286482
Effective shelf registration statement used for the offering
Prospectus Date
November 12, 2025
Date of the base prospectus used with the ATM prospectus supplement
Prospectus Supplement Date
July 10, 2026
Date of the prospectus supplement covering the ATM offering
Key Terms
at the market, shelf registration statement, Form N-2, prospectus supplement, +1 more
5 terms
at the market regulatory
"in transactions deemed to be “at the market” as defined in Rule 415"
“At the market” describes a method companies use to sell newly issued shares directly into the open market at whatever the current trading price is, usually through a broker who places shares in small amounts over time. Investors care because it can reduce each existing shareholder’s ownership percentage and increase the number of shares outstanding, while giving the company a flexible, quick way to raise cash — like adding single seats to a train instead of buying a whole new carriage.
shelf registration statement regulatory
"part of the Fund’s effective shelf registration statement on Form N-2"
A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.
Form N-2 regulatory
"the Fund’s effective shelf registration statement on Form N-2 (File No. 333-286482)"
Form N-2 is a U.S. Securities and Exchange Commission filing that investment companies use to register and describe closed-end funds and certain management companies for public investors. It lays out the fund’s purpose, fees, risks, portfolio policies and management team—like a detailed product label for a financial product—so investors can compare offerings, understand costs and risks, and make informed decisions before buying shares.
prospectus supplement regulatory
"pursuant a prospectus supplement, dated July 10, 2026 and the accompanying prospectus"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
Sub-Placement Agent Agreement regulatory
"a sub-placement agent agreement, dated July 10, 2026 (the “Sub-Placement Agent Agreement”)"
Offering Details
ATM
Offering
Offering Type
ATM
FAQ
What did NXG Cushing Midstream Energy Fund (SRV) announce in this Form 8-K?
NXG Cushing Midstream Energy Fund entered a distribution agreement to sell up to 1,500,000 common shares through an at-the-market offering under its existing Form N-2 shelf registration.
What pricing condition applies to the NXG Cushing Midstream Energy Fund (SRV) at-the-market sales?
On any day, common shares may be sold only at prices not less than current net asset value per share plus the per-share commission owed to the distributor, setting a floor for sale prices.
Under what registration does NXG Cushing Midstream Energy Fund (SRV) conduct this offering?
The offering is conducted under the fund’s effective shelf registration statement on Form N-2 (File No. 333-286482), using a prospectus dated November 12, 2025 and a supplement dated July 10, 2026.