Kayne Anderson Prices $296.4 Mln Stock Offering

(RTTNews) - Kayne Anderson MLP Investment Co. (KYN) said Thursday that it has priced a public offering of common stock.

The company agreed to sell a total of 8 million shares at a price of $37.05 per share, exclusive of 1.2 million additional shares that the underwriters may purchase pursuant to a 45-day option to cover over-allotments.

Net proceeds from the offering of $284.7 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.

The offering is scheduled to close on February 25.