Key Summary: On June 7, 2024, ATG Capital Management nominated two candidates for election to the Board.
Market Cap: $59 million | Tortoise Energy Independence Fund, Inc. is a closed-end equity mutual fund managed by Tortoise Capital Advisors L.L.C. It focuses on investing in North American public equity markets, primarily within the energy sector.
On June 7, 2024, ATG Capital Management nominated two candidates for election to the Board at the upcoming annual meeting of shareholders scheduled to be held on August 8, 2024. Source
On July 11, 2024, ATG Capital Management filed proxy materials seeking support for its nominees.
atg-capital-management-nominated-board-candidates-to-tortoise-energy-independence-fund-ndp
On July 17, 2024, ATG Capital Management filed proxy materials seeking support for its nominees.
Past
On October 29, 2020, Aristides Capital (16.5%) expressed concerns about recent amendments to the company's bylaws, particularly regarding stockholder voting rights. On November 11, 2020, the company announced a proposed merger between Tortoise Energy Independence Fund, Inc. (NDP) and Tortoise Pipeline & Energy Fund, Inc. (TTP). Aristides Capital (16.5%) opposed the merger on March 19, 2021, suggesting the board consider converting to an open-end fund or liquidating assets instead. They reiterated their concerns on March 31, 2021, but withdrew their opposition on April 29, 2021.
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