The Board of Trustees of The Gabelli Utility Trust (NYSE: GUT) (the “Fund”) has approved a transferable rights offering which will allow the Fund’s record date common shareholders to acquire additional common shares (the “Offering”). The Offering will be made only by means of a prospectus supplement and accompanying prospectus, and this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Fund’s securities. Each shareholder will receive one transferable right (the “Right”) for each common share held on the record date (September 9, 2024). The number of Rights to be issued to a shareholder as of the close of business on the record date will be rounded up to the nearest number of Rights evenly divisible by five.
Five Rights plus $5.00 (the “Subscription Price”) will be required to purchase one additional common share (the “Primary Subscription”). The purchase price will be payable in cash. Fractional shares will not be issued upon the exercise of Rights. The Offering expires at 5:00 PM Eastern Time on October 21, 2024, unless extended. Rights may be exercised at any time during the subscription period.