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Gabelli Funds, LLC announces the initial public offering of The Gabelli Go Anywhere Trust (the "Fund"). Upon commencement, The Gabelli Go Anywhere Trust will be Gabelli Funds' 15th closed-end fund. This innovative offering demonstrates the flexibility of the closed-end fund structure, offering a combination of preferred and common shares.
The first – Gabelli Equity Trust started 30 years ago and was underwritten by Shearson Lehman Brothers Inc.
The Combination ("GGO.C") consists of one Series A Cumulative Puttable and Callable Preferred Share face value of $40. The Combination also includes three shares of common and it will trade on the NYSE MKT for the first 60 days. The Combination is expected to begin trading Tuesday, September 6, 2016.
Thereafter, separate trading on the NYSE MKT for the common shares ("GGO") and the Series A Preferred Shares ("GGO.A") will commence.
The Fund's primary investment objective is total return, consisting of capital appreciation and current income. Under normal market conditions, the Fund intends to invest in a broad range of equity securities consisting of common stock, preferred stock, convertible or exchangeable securities, common and preferred equity securities issued by other closed-end management investment companies, and, to a lesser extent, in debt securities.
We thank our lead syndicate and affiliate G.research, LLC for its efforts on behalf of the Fund.
GAMCO Investors, Inc. (NYSE: GBL), through its subsidiaries, manages assets of private advisory accounts (GAMCO) and mutual funds and closed-end funds (Gabelli Funds, LLC) and is known for its Private Market Value with a Catalyst™ style of investment. As of June 30, 2016, GAMCO Investors, Inc. had $39.3 billion in assets under management. Further information can be found at www.gabelli.com.
| NOT FDIC-INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE | ||||
View source version on businesswire.com: http://www.businesswire.com/news/home/20160830006541/en/
Gabelli Funds, LLC
Laurissa Martire, 914-921-5399
or
David Schachter, 914-921-5057
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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