DALLAS, July 18, 2024 /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 June 20, 2024, and expired on July 17, 2024 (the "Expiration Date"). The Offer entitled rights holders to subscribe for up to an aggregate of 867,238 of the Fund's common shares of beneficial interest, par value $0.001 per share ("Common Shares"). The subscription price was $37.25 per Common Share and was determined based upon a formula equal to 86% 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 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.

Gross proceeds of the Offer are expected to be approximately $32,000,000. The Fund intends to invest the net proceeds of the Offer in accordance with its investment objective and policies.

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."