Simpson Thacher represented ClearBridge Energy Midstream Opportunity Fund Inc. (the “Fund”) in connection with a transferable rights offering to subscribe for shares of common stock. The Fund is a closed-end management investment company registered under the 1940 Act. The Fund’s shares of common stock trade on the NYSE under the ticker symbol “EMO” and the rights were listed and traded on the NYSE during the subscription period for the rights offering. Rights holders were entitled to purchase shares of common stock by submitting three rights and the subscription price per share for each share purchased. The rights offering will result in anticipated gross proceeds to the Fund of approximately $76.8 million.
Franklin Templeton Fund Adviser, LLC is the Fund’s investment manager. The Fund is sub-advised by ClearBridge Investments, LLC. The investment manager and the sub-adviser are indirect wholly-owned subsidiaries of Franklin Resources, Inc.
The Simpson Thacher team included Ryan Brizek, David Blass, Debbie Sutter, Andy Madore, Sophie Sujin Kim, Yiran Wang, Sarah Yan and Jamie Li (Registered Funds); and Jonathan Cantor and Michael Slomovics (Tax).