Guggenheim Energy & Income Fund, a non-listed closed-end management investment company, has priced its initial public offering of common shares. The Fund raised gross proceeds of approximately USD79 million in the offering.
Guggenheim Funds Distributors, LLC acted as principal underwriter and distributor, and BofA Merrill Lynch (Merrill Lynch) and Morgan Stanley acted as dealers in connection with the Fund's initial public offering.
The Fund's primary investment objective is to provide high income. As a secondary investment objective, the Fund will seek capital appreciation. There can be no assurance that the Fund will achieve its investment objectives, and you could lose some or all of your investment.
The Fund's common shares will not be listed for trading on any securities exchange. Beginning 18 months after the completion of the initial public offering, the Fund intends, but is not obligated, to conduct quarterly tender offers for up to 2.5 per cent of the common shares then outstanding in the sole discretion of the Fund's board of trustees. The Fund intends to complete an event intended to provide liquidity for common shareholders on or before 28 July, 2023, which date may be extended for one year without shareholder vote if the Fund's board of trustees determines that under then current market conditions it is in the best interests of the Fund to do so. This date may be further extended beyond July 28, 2024 if approved by 75% of the Fund's board of trustees and by 75 per cent of the Fund's shareholders. An event intended to provide liquidity for common shareholders will consist of either (i) termination and liquidation of the Fund, or (ii) a tender offer to repurchase 100 per cent of the Fund's outstanding shares at a price equal to the then current net asset value per common share.
