The Gabelli Healthcare & Wellness Rx Trust (the “Fund”) (NYSE:GRX) rights offering to the Fund’s common shareholders will expire tomorrow, April 12, 2011. Each common shareholder received one transferable right (the “Rights”) for each common share of the Fund held on the record date (March 8, 2011). Holders of Rights who are unable or do not wish to exercise any or all of their Rights may instruct their broker to sell any unexercised Rights through the Rights Agent.
As previously announced, the proceeds raised will be used in accordance with the Fund’s investment objective and will allow the Fund to potentially take advantage of new investment opportunities.
SUMMARY OF THE TERMS OF THE OFFER
- Each shareholder received one transferable right (the “Rights”) for each common share held on the record date (March 8, 2011).
- Three Rights plus $6.50 (the “Subscription Price”) is required to purchase one additional common share at the subscription price and for registered shareholders free of commission and fees.
- The over-subscription privilege permits all record date shareholders who have fully exercised their primary subscription rights to subscribe for any additional amount of unsubscribed shares, if available, which they may receive based on a pro-rata allocation formula. 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.
Holders of Rights who wish to subscribe for additional common shares should contact the information agent, Georgeson, at (866) 647-8872 or their broker for instructions with respect to exercising Rights to subscribe for additional common shares.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV