Rights offering on RQI - does it make sense to exercise ?

RQI is doing a rights offering: 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