Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, August 14, 9:55 PM
|This Slide: #308 of 582|
Slide #308. The Gabelli Equity Trust Inc. — Preferred Stock Offering
The Gabelli Equity Trust Inc. (NYSE:GAB)
Preferred Stock Offering Details:
The Board of Directors of The Gabelli Equity Trust Inc. (NYSE:GAB) (the "Fund") is pleased to announce the completion of an offering of 3.2 million shares of 5.45% Series J Cumulative Preferred Stock ("Series J Preferred") valued at $80 million. The offering is expected to close on Thursday, March 31, 2016, subject to customary closing conditions.
The Gabelli Equity Trust is registered as a non-diversified, closed-end management investment company. The Fund's primary objective is long-term growth of capital, with income as a secondary objective.
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