RQI is doing a rights offering:
[https://assets-prod.cohenandsteers.com/wp-content/uploads/2026/06/22135328/CNS\_Quality\_Income\_Realty\_Fund.pdf](https://assets-prod.cohenandsteers.com/wp-content/uploads/2026/06/22135328/CNS_Quality_Income_Realty_Fund.pdf)
price is calculated according to this formula: "Subscription price will be based upon a formula equal to the higher of 92.5% of the average market price on expiration date and the four preceding trading days on the NYSE or 90% of the average of net asset value (“NAV”) on expiration date and the four preceding trading days (the “Subscription Price”)".
Right now the market price is at 90% of NAV (12.34/13.60). So it seems the market has adjusted to this offering ? Still some days to go (7/14/26) to finalize the price, but if this holds is there any point in exercising the rights? i.e. just buy at market instead. Are there any tax implications for exercising the rights ?