Gabelli Go Anywhere Trust - 15th Gabelli Closed-End Fund
August 30 2016 - 6:20PM
Business Wire
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
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version on businesswire.com: http://www.businesswire.com/news/home/20160830006541/en/
Gabelli Funds, LLCLaurissa Martire, 914-921-5399orDavid
Schachter, 914-921-5057
Gamco Investors (NYSE:GBL)
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