Gabelli Multimedia Trust Board Approves at the Market Common Stock Offerings With Prices Trading Above NAV
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 09 2025
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Source: Newsfilter
ATM Offering Authorization: The Gabelli Multimedia Trust Inc. has authorized an "at the market" (ATM) offering of common stock at prices above net asset value, which is expected to benefit existing shareholders by being accretive to their shares.
Investment Strategy and Compliance: Proceeds from the ATM offering will be invested in line with the Fund's objectives, and all transactions will comply with SEC regulations, with a prospectus supplement to be filed for investor guidance.
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About GGT
The Gabelli Multimedia Trust Inc. (the Fund) is a United States-based non-diversified closed-end management investment company. The Fund's investment objective is long term growth of capital. The Fund will invest at least 80% of its assets, under normal market conditions, in common stock and other securities, including convertible securities, preferred stock, options, and warrants of companies in the telecommunications, media, publishing and entertainment industries. The Fund also invests in various industries, including cable, the United States Government obligations, computer software and services, broadcasting, hotels and gaming, wireless communications, satellite, electronics, publishing, consumer services, financial services, computer hardware, equipment, business services, retail, diversified industrial, consumer products, food and beverage, information technology, telecommunications, and real estate. The Fund's investment advisor is Gabelli Funds, LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
