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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Gamco Investors Inc | NYSE:GBL | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.78 | 0 | 01:00:00 |
The Board of Directors of The Gabelli Equity Trust Inc. (NYSE:GAB) (the “Fund”) previously announced a transferable rights offering which will allow the Fund’s record date common shareholders to acquire additional common shares (the “Offering”). The Offering to acquire additional common shares will be made only by means of a prospectus, and this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Fund’s securities.
The Rights traded “when issued” on the New York Stock Exchange on November 2, 2017, and the Fund’s common shares are expected to trade “Ex-Rights” on the New York Stock Exchange beginning on November 3, 2017. The Rights are expected to begin trading for normal settlement on the New York Stock Exchange (NYSE:GAB RT) on or about November 9, 2017.
SUMMARY OF THE TERMS OF THE OFFERING
The Fund expects to mail subscription certificates evidencing the Rights and a copy of the prospectus for this Offering to record date shareholders beginning on November 8, 2017. Financial Advisors will likely send notices to you shortly thereafter. Inquiries regarding the Offering should be directed to the Fund at 800-GABELLI or 914-921-5070.
The Offering is made pursuant to the Fund’s effective shelf registration statement on file with the Securities and Exchange Commission.
Any shares of common stock issued as a result of the Offering will not be record date shares for the Fund’s quarterly distribution to be paid on December 15, 2017 and will not be entitled to receive such distribution.
The information herein is not complete and is subject to change. This document is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a final prospectus. Investors should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. The base prospectus contains this and additional information about the Fund and the prospectus supplement will contain this and additional information about the Offering, and should be read carefully before investing. For further information regarding the Offering, or to obtain a prospectus supplement and the accompanying prospectus, when available, please contact the Fund at 800-GABELLI or 914-921-5070.
The Gabelli Equity Trust Inc. is a non-diversified, closed-end management investment company with $1.8 billion in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).
View source version on businesswire.com: http://www.businesswire.com/news/home/20171102006665/en/
For The Gabelli Equity Trust Inc.Molly Marion, 914-921-5070
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