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Simpson Thacher represented the underwriters, led by BofA Merrill Lynch, in connection with the public offering by The Gabelli Equity Trust Inc. (the “Fund”) of 4,200,000 shares of 5.00% Series H Cumulative Preferred Stock. The offering raised aggregate net proceeds of approximately $101.2 million.

The Fund is a non-diversified closed-end management investment company registered under the Investment Company Act of 1940. Shares of its common stock trade on the New York Stock Exchange under the symbol “GAB.” The Fund’s primary investment objective is to achieve long-term growth of capital by investing primarily in a portfolio of equity securities consisting of common stock, preferred stock, convertible or exchangeable securities and warrants and rights to purchase such securities. The Fund’s investment adviser is Gabelli Funds, LLC.

The Simpson Thacher team for the transaction included: Sarah Cogan, Jeremy Barr, Daniel Brown and Aditya Basrur (Capital Markets), Jeanne Annarumma (Executive Compensation and Employee Benefits) and Jonathan Cantor and Devin Heckman (Tax).