OVERLAND PARK, Kan. - February 14, 2008 - Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced the pricing of 1.5 million shares of common stock offered at $33.71 per share. Merrill Lynch & Co., is the sole underwriter in this offering. The company has granted the underwriters a 45-day option to purchase a maximum of 225,000 additional shares of common stock to cover over-allotments.
The company initially intends to use all of the net proceeds to retire a portion of its short-term debt outstanding under its credit facility. Over the long-term the company may also use the proceeds to acquire equity portfolio securities in pursuit of its investment objectives and policies, refinance a portion of its outstanding leverage or for working capital purposes. The company now has approximately 20,587,891 common shares outstanding.
The offering is pursuant to an existing effective shelf registration statement on Form N-2 previously filed with the Securities and Exchange Commission. An investor should read the prospectus supplement and prospectus carefully before investing. The prospectus supplement and prospectus contain important information about the company's investment objective, risks, charges and expenses. A copy of the prospectus supplement and prospectus relating to the offering may be obtained from Merrill Lynch & Co., 4 World Financial Center, 250 Vesey Street, New York, New York.
About Tortoise Energy Infrastructure Corp.
Tortoise Energy Infrastructure Corp. owns a portfolio of master limited partnership investments in the energy infrastructure sector. Tortoise Energy Infrastructure Corp.'s goal is to provide its stockholders a high level of total return with an emphasis on current dividends.
About Tortoise Capital Advisors
Tortoise Capital Advisors, LLC is a pioneer in capital markets for master limited partnership (MLP) investment companies and a leader in closed-end funds and separately managed accounts focused on MLPs in the energy sector. As of Jan. 31, 2008, the adviser had approximately $2.9 billion of assets under management. For more information, visit our Web site at www.tortoiseadvisors.com.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the 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.
Contact information: Tortoise Capital Advisors, LLC Pam Kearney, Investor Relations, (866) 362-9331, email@example.com