RYE, N.Y. -- (Business Wire)
The Board of Trustees of The Gabelli Global Small and Mid Cap Value
Trust (NYSE:GGZ) (the “Fund”) previously announced a transferable rights
offering which will allow the Fund’s record date common shareholders to
acquire additional common shares (the “Offering”). The Offering to
acquire additional common shares will be made only by means of a
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.
The Rights are expected to trade “when issued” on the New York Stock
Exchange beginning on October 19, 2017, and the Fund’s common shares are
expected to trade “Ex-Rights” on the New York Stock Exchange beginning
on October 20, 2017. The Rights are expected to begin trading for normal
settlement on the New York Stock Exchange (NYSE:GGZ RT) on or about
October 26, 2017.
SUMMARY OF THE TERMS OF THE OFFERING
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Each shareholder will receive one transferable right (the “Right”) for
each common share held on the record date October 23, 2017.
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Three Rights plus $11.50 (the “Subscription Price”) will be required
to purchase one additional common share (the “Primary Subscription”).
The purchase price will be payable in cash.
-
Record date shareholders who fully exercise their Primary Subscription
Rights will be eligible for an over-subscription privilege entitling
these shareholders to subscribe, subject to certain limitations and a
pro-rata allotment, for any additional common shares not purchased
pursuant to the Primary Subscription. Rights acquired in the
secondary market may not participate in the over-subscription
privilege.
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The Offering expires at 5:00 PM Eastern Time on December 5, 2017.
The Fund expects to mail subscription certificates evidencing the Rights
and a copy of the prospectus for this Offering to record date
shareholders beginning on October 25, 2017. Financial Advisors will
likely send notices to you shortly thereafter. Inquiries regarding the
Offering should be directed to the Fund at 800-GABELLI or 914-921-5070.
The Offering is made pursuant to the Fund’s effective shelf registration
statement on file with the Securities and Exchange Commission.
Any common shares issued as a result of the Offering will not be record
date shares for the Fund’s year end distribution, if any, and will not
be entitled to receive such distribution.
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 final prospectus. Investors should consider the
Fund’s investment objective, risks, charges and expenses carefully
before investing. The base prospectus contains this and additional
information about the Fund and the prospectus supplement will contain
this and additional information about the Offering, and should be read
carefully before investing. For further information regarding the
Offering, or to obtain a prospectus supplement and the accompanying
prospectus, when available, please contact the Fund at 800-GABELLI or
914-921-5070.
The Gabelli Global Small and Mid Cap Value Trust is a diversified,
closed-end management investment company with $148 million in total
managed assets whose investment objective is long-term capital growth.
Under normal market conditions, the Fund invests at least 80% of its
total assets in equity securities of companies with small or medium
sized market capitalizations. The Fund is managed by Gabelli Funds, LLC,
a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).
View source version on businesswire.com: http://www.businesswire.com/news/home/20171018006536/en/
Contacts:
The Gabelli Global Small and Mid Cap Value Trust
Camillo
Schmidt-Chiari
or Carter Austin
914-921-5070
Source: The Gabelli Global Small and Mid Cap Value Trust
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