Gabelli Funds, LLC is pleased to announce the initial public offering of The Gabelli Go Anywhere Trust (the “Fundâ€), a newly organized, non-diversified, closed-end management investment company.
Mario J. Gabelli, along with a team of portfolio managers at Gabelli Funds, will be managing The Gabelli Go Anywhere Trust.
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 primarily in a broad range of equity securities consisting of common stock, preferred stock, convertible or exchangeable securities, and, to a lesser extent, in debt securities.
The Fund may also invest up to 40% of its total assets in common and preferred equity securities issued by other closed-end management investment companies.
The Fund is offering a combination of both common and preferred shares which are anticipated to trade on the New York Stock Exchange or NYSE MKT. Shareholders will be required to purchase a “Combination†of 3 common shares and 1 Series A Cumulative Puttable and Callable Preferred Shares (the “Series A Preferred Sharesâ€).
The Combination is being offered at $100 per share (equating to three common shares at $20 per share plus $40 (liquidation preference) for one Series A Preferred Share).
The Fund will trade as a Combination for 60 days; thereafter separate trading for the common shares and Series A Preferred Shares will commence and the Combination will be delisted.
The lead underwriter of the offering is G.research, LLC.
It is anticipated that Gabelli Funds, LLC or its affiliates will participate in 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 prospectus. Investors should carefully consider the Fund’s investment objective, risks, charges and expenses before investing. The prospectus contains this and other information about the offering, and should be read carefully before investing. To obtain a prospectus, please call 800-GABELLI or visit www.gabelli.com.
