Simpson Thacher Represents Underwriters in $50 Million Preferred Share Offering by The Gabelli Multimedia Trust
12.26.19
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Simpson Thacher represented the underwriters, led by BofA Securities, Inc., in connection with the public offering by The Gabelli Multimedia Trust Inc. (the “Fund”) of 2,000,000 shares of 5.125% Series G Cumulative Preferred Shares. The offering raised aggregate net proceeds of approximately $48.425 million.
The Fund is a non-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, primarily through investment in a portfolio of common stock and other securities of foreign and domestic companies involved in the telecommunications, media, publishing and entertainment industries. Its common shares trade on the New York Stock Exchange under the symbol “GGT.” The Fund’s investment adviser is Gabelli Funds, LLC.
The Simpson Thacher team for the transaction included Ben Wells and Lucie Enns (Registered Funds); Mark Brod (Capital Markets); Jeanne Annarumma (Executive Compensation and Employee Benefits); Jennie Getsin (FINRA and Blue Sky); and Jonathan Cantor and Morgan Otway (Tax).