Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 16

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 16
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 a price   
 of $40.24 per Common Share in an offering under this Prospectus Supplement and the accompanying Prospectus less the Dealer Manager fee 
 of $2,191,189 and estimated offering expenses payable by the Fund of $517,950.                                                         |

| Short-Term Debt:                                                                                                                                                                                                                                                          |     | Actual |             |     | As Adjusted 
 (unaudited) |             |     | As Further  
 Adjusted    
 (unaudited) |             |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-------|------------:|:----|:------------|------------:|:----|:------------|------------:|
| Borrowings                                                                                                                                                                                                                                                                |     | $      |  60,315,000 |     | $           |  63,080,637 |     | $           |  83,091,147 |
| Common Shareholder’s Equity:                                                                                                                                                                                                                                              |     |        |             |     |             |             |     |             |             |
| Common shares of beneficial interest, par value $0.001 per share; unlimited shares authorized, 4,476,806 shares issued and outstanding (actual), 4,667,609 shares issued and outstanding (as adjusted), and 6,223,479 shares issued and outstanding (as further adjusted) |     |        |       4,476 |     |             |       4,668 |     |             |       6,223 |
| Additional paid-in capital                                                                                                                                                                                                                                                |     |        | 162,836,093 |     |             | 171,114,118 |     |             | 231,008,818 |
| Accumulated net gains                                                                                                                                                                                                                                                     |     |        |  17,696,694 |     |             |  17,696,694 |     |             |  17,696,694 |
| Net assets                                                                                                                                                                                                                                                                |     |        | 180,537,263 |     |             | 188,815,479 |     |             | 248,711,735 |

| S-10 |

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

The Fund estimates the net proceeds of the Offer to
be approximately $60 million. This figure is based on the Subscription Price per Common Share of $40.24 and assumes the sale of 1,555,870
of Common Shares pursuant to the exercise of Rights and that the estimated Dealer Manager fee of $2