March 9, 2010 (FinancialWire) — The Cushing MLP Total Return Fund (NYSE: SRV) has launched a public offering of three million common shares. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (AMEX: LTS), is acting as sole book-running manager.

The fund plans to grant the underwriters a 45-day option to purchase up to 450,000 additional common shares to cover over-allotments.

It plans to use the net proceeds of the offering to make additional portfolio investments that are consistent with the fund’s investment objective and for general corporate purposes.

for the offering.

Texas-based The Cushing MLP Total Return Fund is a non-diversified, closed-end management investment company. The fund’s plan is to investments, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in MLP investments.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.