Neuberger Berman Real Estate Securities Income Fund Tender Offer (6.4% Upside)
- Company: Neuberger Berman Real Estate Securities Income Fund
- Ticker: NRO
- Market Cap: $300mm
- Size of Action: $45mm
- Type of Transaction: Tender Offer with Odd-Lot Provision
- Current Price: $5.29
- Tender Price: 98% of NAV ($5.75) = $5.63
- Potential Gain (%): 6.4%
- Expiration: January 9th
- Tender Limit (Shares): 99
- Max Investment ($): $520 per account
- Max Gain ($): $34 per account
- Sec Filing: Link
- Summary: NRO is buying 15% of its shares outstanding at 98% of NAV - which currently equates to $5.63 per share.
- Source of Funds: Cash on hand and the Company may also sell portfolio securities
- Odd Lot Provision: ...the Fund will first purchase shares tendered by any Stockholder who owns, beneficially or of record, an aggregate of not more than 99 shares of Common Stock -- an “odd lot” -- and who tenders all such shares, and then purchase the remaining Offer Amount on a pro rata basis...
- All information contained on or available through this Web Site (“the Content”) is for general information purposes only and does not constitute any investment advice.
This entry was posted in Odd Lot Tender Offers
. Bookmark the permalink