Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 19

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 19
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the “1940 Act”). The Fund
commenced investment operations on August 27, 2007. The Fund’s principal office is located at One Energy Square, 4925 Greenville
Avenue, Suite 1310, Dallas, Texas 75206.

<div align='center'>USE
OF PROCEEDS</div>

Unless otherwise specified
in a Prospectus Supplement, the Fund intends to invest the net proceeds of an offering of Securities in accordance with its investment
objective and policies as stated in this Prospectus. It is currently anticipated that the Fund will be able to invest substantially all
of the net proceeds of an offering of Securities in accordance with its investment objective and policies within three months after the
completion of such offering. Prior to the time the proceeds of each offering are fully invested, such proceeds may temporarily be invested
in cash, cash equivalents, or in debt securities that are rated AA or higher. Income received by the Fund from such temporary investments
would likely be less than returns sought pursuant to the Fund’s investment objective and policies. A delay in the anticipated use
of proceeds could lower returns and reduce the Fund’s distribution to Common Shareholders.

<div align='center'>MARKET
AND NET ASSET VALUE INFORMATION</div>

The information contained
under the heading “Additional Information (Unaudited)—Market and Net Asset Value Information” in the Fund’s Annual
Report is incorporated herein by reference.

INVESTMENT
OBJECTIVE AND POLICIES

The information contained
under the heading “Additional Information (Unaudited)—Investment Objective and Policies” in the Fund’s Annual
Report is incorporated herein by reference.

RISKS

Investors should consider
the specific risk factors and special considerations associated with investing in the Fund. An investment in the Fund is subject to investment
risk, including the possible loss of your entire investment. A Prospectus Supplement relating to an offering of the Fund’s securities
may identify additional risk associated with such offering.

The information contained
under the heading “Additional Information (Unaudited)—Risks” in the Fund’s Annual Report is incorporated herein
by reference.

Additional risk factors associated
with offerings pursuant to this Prospectus include:

Risks Associated with Offerings of Additional Common Shares.The voting power of current Common Shareholders will be diluted to the extent that current Common Shareholders do not purchase Common Shares in any future offerings of Common Shares or do not purchase sufficient Common Shares to maintain their percentage interest. If the Fund is unable to invest the proceeds of such offering