Filing by Certain Investment Companies of Rule 482 Advertising in Accordance With Rule 497 and the Note to Rule 482(e) (497ad)
28 June 2021 - 11:53PM
Edgar (US Regulatory)
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THE GABELLI MULTIMEDIA TRUST INC.
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One Corporate Center
Rye, NY 10580-1422
t 914.921.5070
GABELLI.COM
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For information:
Carter Austin
(914) 921-5475
Laurissa Martire
(914) 921-5399
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PRESS
RELEASE
FOR IMMEDIATE RELEASE
Rye, New
York
NYSE
– GGT
June
25, 2021
CUSIP
– 36239Q109
Gabelli
multimedia TRUST
announcES
rights offering for SHARES of COmmon Stock
record
date and summary of terms
Rye,
NY -- The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE:GAB) (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
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Each
shareholder will receive one transferable right (the “Right”) for each share of common stock held on the record date (July
13, 2021).
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Four
Rights plus $9.50 (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.
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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 July
9, 2021, and the Fund’s shares of common stock are expected to trade “Ex-Rights” on the New York Stock Exchange
beginning on July 12, 2021. The Rights are expected to begin trading for normal settlement on
the New York Stock Exchange (NYSE:GGT RT) on or about July 16, 2021.
-
The
Offering expires at 5:00 PM Eastern Time on August 25, 2021, unless extended.
|
THE GABELLI MULTIMEDIA TRUST INC.
|
|
|
One Corporate Center
Rye, NY 10580-1422
t 914.921.5070
GABELLI.COM
|
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 July 15, 2021. 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
projected to be paid in September 2021 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 Multimedia Trust Inc. is a non-diversified, closed-end management investment company with $332 million 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).
NYSE
– GGT
CUSIP
– 36239Q109
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