Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 67

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 67
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, may have a material adverse
effect on global economic conditions, inflation and the stability of global financial markets, and may significantly reduce global trade
and, in particular, trade between the impacted nations and the U.S. Any of these factors could depress economic activity and restrict
the Fund’s portfolio companies’ access to suppliers or customers, increase their supply-chain costs and expenses and could
have material adverse effects on the Fund’s business, financial condition and results of operations.

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 as intended, the Fund’s per Common Share distribution may decrease and the Fund may not participate in
market advances to the same extent as if such proceeds were fully invested as planned. If the Fund sells Common Shares at a price below
net asset value per share pursuant to the consent of Common Shareholders, shareholders will experience a dilution of the aggregate net
asset value per Common Share because the sale price will be less than the Fund’s then-current net asset value per Common Share.
Similarly, were the expenses of the offering to exceed the amount by which the sale price exceeded the Fund’s then current net asset
value per Common Share, shareholders would experience a dilution of the aggregate net asset value per Common Share. This dilution will
be experienced by all shareholders, irrespective of whether they purchase Common Shares in any such offering. See “Description of
Shares—Common Shares—Issuance of Additional Common Shares.”

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Additional Risks of Rights

There are additional risks
associated with an offering of Rights. Shareholders who do not exercise their Rights may, at the completion of such an offering, own
a smaller proportional interest in the Fund than if they exercised their Rights. As a result of such an offering, a shareholder may experience
dilution in net asset value per share if the subscription price per share is below the net asset value per share on the expiration date.
If the subscription price per share is below the net asset value per share of the Fund’s Common Shares on the expiration date,
a shareholder will experience an immediate dilution of the aggregate net asset value of such shareholder’s Common Shares if the
shareholder does not participate in such an offering and the