Tortoise Energy Capital Corporation Announces Closing of Underwriters' Over-Allotment Option
08 Juli 2005 - 4:46PM
Business Wire
Tortoise Energy Capital Corporation (NYSE:TYY) announced today that
it issued an additional 637,000 shares of its common stock as a
result of the underwriters exercising a portion of the
over-allotment option granted to them in connection with TYY's May
2005 initial public offering of common stock. As a result, an
aggregate of 15,887,000 shares of common stock have been issued in
connection with this offering. All shares were issued at $25.00 per
share, resulting in total net proceeds to the company in connection
with this offering, after payment of underwriting discounts and
offering expenses, of approximately $379 million. TYY's May 2005
offering was managed by Lehman Brothers and Stifel, Nicolaus &
Company, Incorporated as joint book-running managers, and, together
with Wachovia Capital Markets, LLC, acted as joint lead managers
for the offering. A copy of the final Prospectus relating to this
offering may be obtained from the offices of Lehman Brothers Inc.,
c/o ADP Financial Services, Integrated Distribution Services, 1155
Long Island Avenue, Edgewood, New York, 11717; Stifel, Nicolaus
& Company, Incorporated, 501 North Broadway, St. Louis,
Missouri, 63102; and Wachovia Capital Markets, LLC, 301 South
College Street, Charlotte, North Carolina, 28258. About Tortoise
Capital Tortoise Energy Capital Corporation's investment objective
is to obtain a high level of total return with an emphasis on
current distributions paid to stockholders. Tortoise Capital
provides financing primarily for master limited partnerships and
their affiliates in the energy infrastructure sector which engage
in the business of gathering, transporting, processing, storing,
distributing or marketing natural gas, natural gas liquids, coal,
crude oil, refined petroleum products or other natural resources,
or exploring, developing, managing or producing such commodities.
Safe Harbor Statement This press release shall not constitute an
offer to sell or a solicitation to buy, nor shall there be any sale
of these securities in any state or jurisdiction in which such
offer or solicitation or sale would be unlawful prior to
registration or qualification under the laws of such state or
jurisdiction.
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