Firm Represents Underwriters in Preferred Share Offering by The Gabelli Utility Trust
06.13.16
This is only gets display when printing
Simpson Thacher represented the underwriters, led by Morgan Stanley & Co. LLC, in connection with the public offering by The Gabelli Utility Trust (the “Fund”) of 2,000,000 shares of 5.375% Series C Cumulative Preferred Shares. The offering raised aggregate net proceeds of approximately $48.4 million.
The Fund is a diversified, closed-end management investment company registered under the Investment Company Act of 1940. The Fund’s primary investment objective is long-term growth of capital and income. Its common shares trade on the New York Stock Exchange under the symbol “GUT.” The Fund’s investment advisor is Gabelli Funds, LLC.
The Simpson Thacher team for the transaction included Sarah Cogan, Ben Wells, Daniel Honeycutt and Summer Associate Sonali Sanyal (Capital Markets); Jeanne Annarumma (Executive Compensation and Employee Benefits); Jonathan Cantor and Michael Badain (Tax); and Jennie Getsin (FINRA and Blue Sky).