Kayne Anderson MLP Prices Follow-On Common Stock Offering

Kayne Anderson MLP Investment (KYN) Is Down After Offering Announcement

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8/3/2012 12:53 PM ET

Kayne Anderson MLP Investment Co. (KYN: Quote) on Friday announced the pricing of a public offering of common stock.

The company agreed to sell a total of 5 million shares at a price of $29.75 per share, exclusive of 750,000 shares that the underwriters may purchase pursuant to a 45-day option to cover over-allotments.

The offering is scheduled to close on August 8.

Net proceeds from the offering of about $142.8 million will be used to make additional portfolio investments that are consistent with the company's investment objective and policies and for general corporate purposes.

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