GAB Rights Offering Update: Lower Subscription Price And Deadline Extended

2026-04-16 15:10:57 ET

Gabelli Equity Trust ( GAB ) has updated the terms of its ongoing rights offering. From the press release:

GREENWICH, Conn., March 31, 2026 (GLOBE NEWSWIRE) -- The Gabelli Equity Trust (NYSE: GAB) (the “Fund”) today announced that is has updated the offering price of its previously announced Rights Offering (the “Offer”) and has extended the expiration date of the Offer.

Under the updated terms of the Offer, the Subscription Price will be $5.00 per share, replacing the prior Subscription Price of $5.50. This revised price reflects current market conditions and investor feedback.

In addition, the expiration date of the Offer has been extended to April 21, 2026, at 5:00 PM Eastern Time.

As previously announced, ten Rights enable a shareholder to purchase one additional share of common stock. 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 at the same Subscription Price. The Rights will continue to trade on the New York Stock Exchange through April 20, 2026.

Important Notice to Shareholders Who Have Already Exercised Their Rights Through Their Broker: In light of the change in the Subscription Price and the expiration date, subscriptions previously submitted through brokers will be cancelled and shareholders who wish to remain in the Offer must contact the submitting broker to resubscribe at the current $5.00 Subscription Price prior to the expiration date.

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