N
euberger Berman Real Estate Securities Income Fund Inc. (NYSE American: NRO) has announced the approval of a rights offering to holders of its common stock as of January 23, 2025. This offering allows eligible shareholders to purchase additional shares at a discount to market price.

    The decision to conduct this offering was made after considering various factors, including potential benefits and costs. The Fund's investment adviser believes that raising additional assets is attractive due to several factors:

    * The offering provides the Fund with new capital to invest in attractive opportunities, potentially enhancing long-term returns.

    * Eligible shareholders have the opportunity to buy shares at a discount or sell their rights for value.

    * Spreading fixed costs over a larger asset base may lead to a lower total expense ratio.

    * Increased trading volume and liquidity of NRO common stock are anticipated.

    The Fund expects to maintain its current distribution level following the offering. However, distributions payable in January and February will not be applicable to shares issued under this offering, as these shares will be issued after the record dates.

    Key terms of the offering include:

    * Eligible shareholders receive one right for each outstanding share owned on the record date.

    * Rights entitle holders to purchase one new share for every three rights held (1-for-3), with fractional shares not being issued.

    * The subscription price will be determined based on the average market price of NRO common stock over a specified period, with a minimum of 90% of net asset value per share if the formula price is below this threshold.

    Record Date Stockholders who fully exercise their rights can subscribe for additional shares at the subscription price. Investors acquiring rights in the secondary market are not entitled to subscribe for shares under this offering.

    Rights will be transferable and tradeable on the NYSE American, initially "when-issued" from January 22, 2025, and with regular settlement from January 24, 2025. The offering will cease trading at the close of February 18, 2025, unless extended.

    The Fund will bear expenses associated with this offering, which will be indirectly borne by its common stockholders. The right to modify, postpone or cancel the offering is reserved by the Fund.

    This press release contains information that is not complete and is subject to change. It is not an offer to sell securities and does not solicit an offer to buy any securities in jurisdictions where such offers are not permitted. A prospectus supplement and accompanying prospectus will contain additional information about the Fund, the offering, and should be read carefully before investing.

    For further information regarding this offering or to obtain a prospectus supplement and accompanying prospectus when available, please contact EQ Fund Solutions, LLC at (866) 387-0017.