JRI Rights Offering Results

2026-03-30 08:00:00 ET

Nuveen Real Asset Income and Growth Fund's ( JRI ), a "real assets" themed closed-end fund, rights offering results are in. From the press release:

Nuveen Real Asset Income and Growth Fund ((NYSE: JRI)) (the "Fund") today announced the preliminary results of its transferable rights offering (the "Offer") which expired at 5:00 p.m., Eastern time, on March 9, 2026 (the "Expiration Date"). The Offer entitled the rights holders to subscribe for an aggregate of up to an additional 7,000,000 common shares of the Fund ("Common Shares"). The Board has also approved a secondary over-subscription, whereby the Fund is authorized to increase the number of Common Shares to be issued by 1,750,000 Common Shares, for an aggregate total of 8,750,000 Common Shares.

The subscription price for the Common Shares to be issued was $12.40 per Common Share, which was equal to 90% of the Fund's net asset value per Common Share at the close of trading on the NYSE on the Expiration Date. The gross proceeds of the Offer are expected to be approximately $108.5 million (including oversubscription requests and notices of guaranteed delivery).

The Offer was over-subscribed and the over-subscription requests exceeded the primary over-subscription and secondary over-subscription shares available. The available over-subscription shares will be allocated pro-rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Fund will return to those investors that submitted over-subscription requests the full amount of their excess payments.

The Common Shares subscribed for are expected to be issued on or about March 16, 2026, after receipt of all shareholder payments and completion of the pro-rata allocation of Common Shares with respect to the primary over-subscription privilege and the secondary over-subscription. The final subscription price is lower than the original estimated subscription price. Accordingly, any excess payments will be returned to subscribing rights holders as soon as practicable, in accordance with the prospectus supplement filed with the Securities and Exchange Commission on January 27, 2026.

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