Gabelli Multimedia Tr

The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE:GGT) (the “Fund”) announces the completion of its transferable rights offering (the “Offering” or “Offer”). Preliminary results indicate that the Fund will issue approximately 4.8 million shares of common stock, resulting in gross proceeds to the Fund of approximately $24 million (including over-subscription requests and notices of guaranteed delivery).

Pursuant to the Offer, the Fund issued one transferable right (a “Right”) for each share of common stock held by shareholders of record (record date shareholders) as of June 28, 2024. Holders of Rights were entitled to purchase shares of common stock by submitting four Rights and $5.00 for each share to be purchased (the subscription price). The Offer expired at 5:00 PM Eastern Time on July 22, 2024 and the Rights no longer trade on the New York Stock Exchange.

The new shares of common stock subscribed for will be issued on or about July 25, 2024.

2024-07-23T00:00:00-04:00July 23rd, 2024|

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