Form 4: Director Boosts Stake in Cohen & Steers Fund

A director of Cohen & Steers Infrastructure Fund Inc. acquired 1,100 common shares through a rights offering, increasing their direct beneficial ownership.

Summary

• Adam M. Derechin, a Director of Cohen & Steers Infrastructure Fund Inc. (UTF), acquired 1,100 shares of common stock.
• The transaction occurred on October 16, 2025, at a price of $23.56 per share.
• The acquisition was made pursuant to a pro rata rights offering (the 'Rights Offering') by the Fund.
• Shareholders as of the September 22, 2025, record date received one Right for each whole common share held.
• Each Right entitled holders to purchase one new common share for every five Rights held.
• The subscription price was fixed at $23.56 per common share as of the close of the subscription period on October 16, 2025.
• The Rights Offering also included an oversubscription privilege for shareholders who fully exercised their Rights.
• Following this transaction, Adam M. Derechin directly beneficially owns 6,097.099 shares of common stock.
• The Rights expired at the close of business on October 16, 2025.

Sentiment

Score: 8

Explanation: The sentiment is highly positive due to a director increasing their ownership stake in the company through a capital raise, indicating strong insider confidence in the company's value and future prospects.

Positives

• A director increasing their stake in the company signals confidence in the Fund's future prospects and management.
• The participation in the rights offering at a fixed price demonstrates a commitment to the Fund's capital structure and growth initiatives.

Future Outlook

na

Management Comments

• Purchased pursuant to a pro rata offering (the 'Rights Offering') of transferable rights (the 'Rights') to purchase common shares of Cohen & Steers Infrastructure Fund, Inc. (the 'Fund').
• The Fund's shareholders as of the September 22, 2025 record date (the 'Record Date') each received one Right for each whole common share held on the Record Date.
• The Rights entitled their holders to purchase one new common share for every five Rights held.
• The subscription price per common share was $23.56 (the 'Subscription Price') and was fixed as of the close of the subscription period on October 16, 2025 (the 'Expiration Date').
• The Rights Offering also included an oversubscription privilege which entitled shareholders as of the Record Date who fully exercised their Rights to purchase additional common shares of the Fund at the Subscription Price, subject to availability.
• The Rights expired at close of business on the Expiration Date.

Industry Context

na

Related Party Transactions

• Adam M. Derechin, a Director of Cohen & Steers Infrastructure Fund Inc., acquired common stock from the Fund through a rights offering. This constitutes a transaction between a related party (director) and the issuer.

Stakeholder Impact

• Shareholders: The rights offering provided existing shareholders an opportunity to maintain or increase their proportional ownership in the Fund at a fixed price.
• Fund: The rights offering served as a capital raise, potentially increasing the Fund's assets under management and investment capacity.

Key Dates

Recommendation

The acquisition of additional shares by a director, particularly through a rights offering, signals strong insider confidence in the company's valuation and future performance. This insider buying activity often precedes positive developments or reflects a belief that the stock is undervalued, making it a compelling 'buy' signal for seasoned investors.

Keywords

Cohen & Steers Infrastructure Fund, UTF, Insider Buying, Form 4, Rights Offering, Director Stock Purchase, Equity Acquisition, Investment Fund, Infrastructure