Prospectus excerpt:  The Gabelli Global Small and Mid Cap Value Trust (the ÙFundˆ) is offering 1,200,000 shares of 5.450% Series A Cumulative Preferred Shares, par value $0.001 per share (the ÙSeries A Preferred Sharesˆ). Investors in Series A Preferred Shares will be entitled to receive, when, as and if declared by, or under authority granted by, the Fund?s Board of Trustees, out of funds legally available therefor, cumulative cash dividends and distributions at the rate of 5.450% per annum of the $25.00 per share liquidation preference on the Series A Preferred Shares. Dividends and distributions on Series A Preferred Shares will be payable quarterly on March 26, June 26, September 26 and December 26 in each year commencing on June 26, 2016. The Series A Preferred Shares will rank on parity with any future preferred shares and senior to our common shares with respect to dividend and distribution rights and rights upon our liquidation.