Dec 19, 2007
NEWTON, Mass.--RMR Dividend Capture Fund (AMEX: RCR) today announced that it has priced its initial public offering.RMR Dividend Capture Fund (the "Fund") is a closed end investment management company. The Fund's investment objective is to provide high current income to its common shareholders.A total of 1,250,000 shares were priced at $20.00 each, aggregating $25 million of gross proceeds. Subject to conditions customary in transactions of this type, this offering is expected to close on December 21. The Fund is expected to begin trading today on the American Stock Exchange under the symbol "RCR".The Fund has granted the offering underwriters an option to purchase up to an additional 180,000 shares during the next 45 days to cover over allotments, if any.RBC Capital Markets Corporation and Oppenheimer & Co. Inc. were the co-book runners for this offering. The co-managing underwriters for this offering were Robert W. Baird & Co. Incorporated, Comerica Securities, Inc., Ferris, Baker Watts, Incorporated, Fifth Third Securities, Inc., Janney Montgomery Scott LLC, Morgan Keegan & Company, Inc. and Stifel, Nicolaus & Company, Incorporated.This press release is not an offer to sell, nor a solicitation of an offer to buy shares. A copy of the final prospectus can be obtained by contacting RBC Capital Markets Corporation at 60 South Sixth Street, 17th Floor, Minneapolis, MN 55402, or by contacting any of the managing underwriters listed above.WARNING REGARDING FORWARD LOOKING STATEMENTSTHIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON RMR DIVIDEND CAPTURE FUND'S PRESENT BELIEFS AND EXPECTATIONS, BUT MAY NOT OCCUR. FOR EXAMPLE:
- THE PRICING OF THE FUND'S INITIAL PUBLIC OFFERING MAY IMPLY THAT THIS OFFERING WILL CLOSE. THE CLOSING MAY BE DELAYED OR MAY NOT OCCUR AT ALL.
- THE GRANTING BY THE FUND OF AN OVER ALLOTMENT OPTION TO THE UNDERWRITERS MAY IMPLY THAT THIS OPTION WILL BE EXERCISED. UNDERWRITERS OF THIS OFFERING ARE UNDER NO OBLIGATION TO EXERCISE THIS OPTION, OR ANY PORTION OF IT, AND MAY NOT DO SO.
- THE STATEMENT OF THE FUND'S INVESTMENT OBJECTIVE MAY IMPLY THAT THIS OBJECTIVE WILL BE REALIZED. BECAUSE OF THE RISKS DESCRIBED IN THE PROSPECTUS OR FOR OTHER REASONS, THIS OBJECTIVE MAY NOT BE REALIZED.
INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE.AN INVESTMENT IN RMR DIVIDEND CAPTURE FUND INVOLVES RISKS, INCLUDING, BUT NOT LIMITED TO, RISKS ARISING FROM THE FUND'S INVESTMENT IN REAL ESTATE INVESTMENT TRUSTS AND CLOSED END FUNDS, WHICH MAY SUBJECT THE FUND TO GREATER RISK AND VOLATILITY THAN ARE PRESENT IN A DIVERSIFIED PORTFOLIO. FOR MORE INFORMATION ON RISKS AND THE EXPENSES AND CHARGES WHICH WILL BE PAID BY RMR DIVIDEND CAPTURE FUND SHAREHOLDERS, INVESTORS ARE ADVISED TO OBTAIN THE FUND'S FINAL PROSPECTUS AND READ IT IN ITS ENTIRETY PRIOR TO INVESTING.
RMR Dividend Capture Fund
Timothy A. Bonang
617-796-8253
Manager of Investor Relations
www.rmrfunds.com
© Business Wire , 2008 - 12/19/2007 09:09 AM