Gabelli Multimedia Trust Rights Offering Concludes Raising $24 Million
23 July 2024 - 11:00PM
The Board of Directors of The Gabelli Multimedia Trust Inc.
(NYSE:GGT) (the “Fund”) announces the completion of its
transferable rights offering (the “Offering” or “Offer”).
Preliminary results indicate that the Fund will issue approximately
4.8 million shares of common stock, resulting in gross proceeds to
the Fund of approximately $24 million (including over-subscription
requests and notices of guaranteed delivery).
Pursuant to the Offer, the Fund issued one
transferable right (a “Right”) for each share of common stock held
by shareholders of record (record date shareholders) as of June 28,
2024. Holders of Rights were entitled to purchase shares of common
stock by submitting four Rights and $5.00 for each share to be
purchased (the subscription price). The Offer expired at 5:00 PM
Eastern Time on July 22, 2024 and the Rights no longer trade on the
New York Stock Exchange.
The new shares of common stock subscribed for
will be issued on or about July 25, 2024.
We thank all our subscribing shareholders as
well as the full service brokers and financial advisers who
assisted our shareholders throughout the Offering.
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 supplement and accompanying 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 contains 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,
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 $174
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. (OTCQX: GAMI).
NYSE: GGTCUSIP – 36239Q109
For information:Carter
Austin(914) 921-5475
Laurissa Martire(914) 921-5399
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