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Neuberger Berman Fund's Rights Offering Results

Introduction
On February 20, 2025, Neuberger Berman Real Estate Securities Income Fund Inc. made headlines by releasing preliminary figures from its recently concluded rights offering. This offering, which began on January 23, 2025, was aimed at providing existing shareholders with the opportunity to increase their stakes in the fund, and the initial results signal a robust interest from the investor community.

Details of the Offering
Under the terms of the rights offering, shareholders were granted one transferable right for each share of common stock they held as of the record date, January 23, 2025. With three rights, shareholders could subscribe to purchase additional shares of common stock at a subscription price set at $3.25 per share, which reflects 90% of the fund’s net asset value by the close of trading on the NYSE American on the expiration date. This pricing strategy was designed to enhance accessibility for existing shareholders.

Strong Demand Shown
The preliminary results are particularly striking, revealing that the offering was oversubscribed. Neuberger Berman estimates that it will issue approximately 15,840,458 shares of common stock, leading to gross proceeds of around $51.5 million. This enthusiastic response from investors not only reflects confidence in the fund's management but also underlines the appeal of real estate investments in the current market landscape.

Following the offering, shares will be issued promptly after a pro-rata allocation of over-subscription shares. Any excess payments made by investing shareholders will be fully returned. Exact final results for the offering are pending and are expected to be announced in the near future, as the fund finalizes its dealings.

Investment Focus of the Fund
Neuberger Berman Real Estate Securities Income Fund primarily focuses on generating high current income, with capital appreciation serving as a secondary goal. In typical market conditions, the fund allocates at least 90% of its assets to income-producing securities, which include common equity and preferred securities, as well as convertible and non-convertible debt from real estate-related entities. Interestingly, up to 20% of total assets may be allocated to debt instruments of any credit quality, alongside a 10% allowance for investments in foreign securities from developed countries.

About Neuberger Berman
Founded in 1939, Neuberger Berman operates as an independent investment manager owned by its employees. Currently managing $508 billion in assets across equities, fixed income, and other investment vehicles, the firm prides itself on its active management strategy informed by fundamental research. Their commitment to sustainability and stewardship has earned them recognition from various industry bodies, reflecting their ethical investment practices.

Conclusion
As the announcement of the rights offering concludes, and investors await further updates, the combination of strong demand and strategic pricing showcases Neuberger Berman’s robust position in the financial landscape of real estate investments. For existing and potential investors alike, this development could signal an opportune moment for engagement with real estate securities.

For more detailed inquiries regarding the offering, interested parties are directed to contact EQ Fund Solutions, the information agent for the fund at (866) 387-0017. Ensure that all investment decisions align with the overall objectives, risks, and associated costs highlighted in the fund's prospectus, available on the SEC’s EDGAR database.