Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wednesday, May 1, 11:06 AM
Slide #597. The Gabelli Equity Trust Inc. — Preferred Stock Offering
Company: |
The Gabelli Equity Trust Inc. (NYSE:GAB) |
Shares Offered: |
4,200,000 |
Price Per Share: |
$25 |
Closed Date: |
9/25/2012 |
Date of Over-Allotment Closing: |
10/3/2012 |
Final Completed Deal Size: |
4,200,000.00 |
Preferred Stock Offering Details: |
The Board of Directors of The Gabelli Equity Trust Inc. announced the completion of an offering of 4.2 million shares of 5.00% Series H Cumulative Preferred Stock (the "Series H Preferred") valued at $105 million. The offering is expected to close on Friday, September 28, 2012, subject to customary closing conditions. --updated 10/3/12 -- The Board of Directors of The Gabelli Equity Trust Inc. announced the completion of an offering of 4.2 million shares of 5.00% Series H Cumulative Preferred Stock (the "Series H Preferred") valued at $105 million. The Series H Preferred is rated "AAA" by Standard & Poor's Ratings Services. The Series H Preferred is perpetual, non-callable for five years, and was issued at $25 per share. Distributions are scheduled to be paid quarterly beginning on December 26, 2012. |
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.
Preferreds: GAB.PRD, GAB.PRF, GAB.PRG, GAB.PRH, GAB.PRJ, GAB.PRK
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