The company says its primary investment objective is to earn and pay a high level of current income--its secondary objective is capital appreciation.
A total of nearly 6.7 million shares were priced Friday at $15 per share, aggregating $100 million of gross proceeds, excluding the underwriters' over allotment option. Subject to certain conditions customary in transactions of this type, this offering is expected to close on December 24, 2004. RMR Real Estate Fund is expected to begin trading on December 19, 2003, on the American Stock Exchange under the symbol "RMR".
The firm has granted the offering underwriters an option to purchase up to an additional one million shares during the next 45 days to cover over possible allotments. The gross proceeds could increase to $115 million if the underwriters exercise their over allotment option in full.
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