TORTOISE ENERGY INDEPENDENCE FUND, INC. Tortoise Energy Independence Fund, Inc. (NYSE:NDP) announces a share repurchase program. Under the program, the fund will repurchase up to 5% of its outstanding shares of common stock at a price equal to 98% of net asset value (NAV). The purpose of the program is to provide liquidity to Shareholders that hold Shares.
The program will be funded from cash on hand, the proceeds from the sale of securities and portfolio assets held by the Fund, or borrowings. If Shareholders tender for purchase more Shares than the Fund is offering to purchase during the offering period, the Fund will purchase only a pro rata portion of the Shares tendered by each Shareholder. The program will commence on October 3, 2022 and will expire on November 1, 2022.
