NXG Cushing® Midstream Energy Fund (NYSE: SRV) Announces the Preliminary Results of its Rights Offering

DALLAS, Dec. 15, 2023 /PRNewswire/ -- The NXG Cushing^® Midstream Energy Fund (NYSE: SRV) (the "Fund") announced the preliminary results of its transferable rights offering (the "Offer").  The Offer commenced on November 21, 2023, and expired on December 14, 2023 (the "Expiration Date").  The Offer entitled rights holders to subscribe for up to an aggregate of 728,317 of the Fund's common shares of beneficial interest, par value $0.001 per share ("Common Shares").  The subscription price was $33.20 per Common Share and was determined based upon a formula equal to 88% of the Fund's net asset value ("NAV") per Common Share at the close of trading on the New York Stock Exchange on the Expiration Date.  The Offer was oversubscribed.  Common Shares will be issued promptly after completion and receipt of all shareholder payments and the pro-rata allocation of Common Shares in respect of the over­ subscription privilege.

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