DALLAS, July 19 /PRNewswire-FirstCall/ -- The Cushing MLP Total Return Fund (the "Fund") (NYSE: SRV) today announced the closing of a public offering of common shares. The Fund agreed to sell a total of 8,625,000 common shares at a price to the public of $8.08 per share (including 1,125,000 common shares that the underwriters purchased pursuant to the over-allotment option). Net proceeds from the offering of approximately $65.9 million will be used to make additional portfolio investments that are consistent with the Fund's investment objective and for general corporate purposes.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE Amex: LTS), is acting as sole book-running manager for the offering. Maxim Group LLC, National Securities Corporation, Wunderlich Securities, Inc., and Boenning and Scattergood Inc. are acting as co-managing underwriters for the offering. The offering of these securities will be made only by means of a prospectus. A copy of the preliminary prospectus supplement and prospectus supplement relating to the offering may be obtained from the following address:
Ladenburg Thalmann & Co. Inc.
Attn: Syndicate Department58 South Service Road, Suite 160 Melville, New York 11747 Telephone: 631-270-1600 Fax: 631-270-1998 Investors may also obtain these documents free of charge from the Securities and Exchange Commission's website at www.sec.gov. An investor should read the Fund's preliminary prospectus supplement and prospectus supplement carefully before investing. The preliminary prospectus supplement and prospectus supplement contain important information about the Fund and its investment objective and policies, risks, charges and expenses. This press release does not constitute an offer to sell or a solicitation to buy the securities described herein, 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. A registration statement relating to these securities was filed with, and has been declared effective by, the Securities and Exchange Commission.