Firm Represents Underwriters in Preferred Shares Offering by The Gabelli Healthcare & WellnessRx Trust
10.02.14
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Simpson Thacher represented the underwriters, led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with the public offering by The Gabelli Healthcare & WellnessRx Trust (the “Fund”) of 1,400,000 shares of 5.875% Series B Cumulative Preferred Shares. The offering raised aggregate net proceeds of approximately $33.5 million.
The Fund is a diversified, closed-end management investment company registered under the Investment Company Act of 1940. The Fund’s investment objective is long-term growth of capital. Its common shares trade on the New York Stock Exchange under the symbol “GRX.” The Fund’s investment advisor is Gabelli Funds, LLC.
The Simpson Thacher team for the transaction included Sarah Cogan, Jeremy Barr and Wabi Jain (Capital Markets); Jeanne Annarumma (Executive Compensation and Employee Benefits); Jonathan Cantor (Tax); and Jennie Getsin (FINRA and Blue Sky).