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 Announces Terms For Rights Offering

The Gabelli Healthcare & Wellness Rx Trust (the “Fund”) (NYSE:GRX) announced the final terms of its Rights Offering that was initially announced on December 9, 2010. Pursuant to the Offer, the Fund will distribute to shareholders one transferable Right for each common share held on the record date of March 8, 2011.

Three Rights will enable a shareholder to purchase one additional common share at a price of $6.50 per share (the “Subscription Price”). The Rights are expected to be traded on the New York Stock Exchange (NYSE:GRX RT) and will be transferable. The subscription period will commence on March 8, 2011 (the record date) and terminate 35 days later on April 12, 2011 (the expiration date), unless extended for up to ten business days. Rights may be exercised at any time during the subscription period.

As in previous rights offerings by other Gabelli closed-end funds, record date shareholders who 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. In addition, under certain circumstances, the Fund may issue additional common shares to satisfy over-subscription requests by record date shareholders in excess of the common shares available for the over-subscription privilege. Rights acquired in the secondary market may not participate in the over-subscription privilege. The Board of Trustees has the right in its absolute discretion to eliminate the over-subscription privilege with respect to either or both primary over-subscription shares and secondary over-subscription shares if it considers it to be in the best interest of the Fund to do so. The Board of Trustees may make that determination at any time, without prior notice to Rights holders or others, up to and including the tenth day following the expiration date.

1 of 2

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs