This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gabelli Healthcare & WellnessRX Trust Authorized To File A “Shelf” Registration Statement

The Board of Trustees of The Gabelli Healthcare & Wellness Rx Trust (NYSE:GRX) authorized the filing of a “shelf” registration statement of up to $100 million in common shares and/or preferred shares.

The registration statement process enables the Fund to sell from time to time, in one or more offerings, the Fund’s common shares and/or preferred shares up to a total amount of $100 million. A filing will allow the Fund to register securities in advance and provide the flexibility to offer these securities when market conditions are considered favorable. Any proceeds raised would be used for investment purposes.

The issuance of any preferred shares is designed to benefit the common shareholders, and the Fund will satisfy that objective if it is able to earn in excess of the annualized issuance costs and dividend rate on any preferred shares. The actual amount of capital to be raised, the initial dividend rate(s) and the timing of any offering have not been determined and would be announced at a later date.

This announcement does not constitute an offering of any securities, which will be made only by means of a prospectus.

The Gabelli Healthcare & Wellness Rx Trust is a non-diversified, closed-end management investment company with $69 million in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.

CUSIP – 36246K103



Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
GBL $81.25 0.00%
GRX $11.34 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs