Market Overview

Gabelli Convertible and Income Securities Fund Announces Rights Offering for Shares of Common Stock Record Date and Summary of Terms

Share:

The Board of Directors of The Gabelli Convertible and Income Securities
Fund (NYSE:GCV) (the "Fund") has approved a transferable rights offering
which would allow the Fund's record date common shareholders to acquire
additional shares of common stock (the "Offering"). The Offering 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.

SUMMARY OF THE TERMS OF THE OFFERING

  • Each shareholder will receive one transferable right (the "Right") for
    each share of common stock held on the record date (September 5, 2018).
  • Three Rights plus $5.25 (the "Subscription Price") will be required to
    purchase one additional share of common stock (the "Primary
    Subscription"). The purchase price will be payable in cash.
  • Record date shareholders who fully exercise their Primary Subscription
    Rights will be eligible for an over-subscription privilege entitling
    these shareholders to subscribe, subject to certain limitations and a
    pro-rata allotment, for any additional shares of common stock not
    purchased pursuant to the Primary Subscription. Rights acquired in
    the secondary market may not participate in the over-subscription
    privilege.
  • The Rights are expected to trade "when issued" on the New York Stock
    Exchange beginning on August 31, 2018, and the Fund's shares of common
    stock are expected to trade "Ex-Rights" on the New York Stock Exchange
    beginning on September 4, 2018. The Rights are expected to begin
    trading for normal settlement on the New York Stock Exchange (NYSE:GCV
    RT) on or about September 10, 2018.
  • The Offering expires at 5:00 PM Eastern Time on October 17, 2018,
    unless extended.

The Fund expects to mail subscription certificates evidencing the Rights
and a copy of the prospectus for the Offering to record date
shareholders beginning on September 7, 2018. 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 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
September 21, 2018, 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 Convertible and Income Securities Fund is a diversified,
closed-end management investment company with $107 million in total net
assets whose primary investment objective is to seek a high level of
total return on its assets through a combination of current income and
capital appreciation. The Fund is managed by Gabelli Funds, LLC, a
subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

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