Simpson Thacher Represents Underwriters in $150 Million Preferred Share Offering by The Gabelli Dividend & Income Trust
10.07.21
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Simpson Thacher represented the underwriters, led by BofA Securities, Inc. and Morgan Stanley & Co. LLC, in connection with the public offering by The Gabelli Dividend & Income Trust (the “Fund”) of 6,000,000 shares of 4.250% Series K Cumulative Preferred Shares. The offering raised aggregate net proceeds of approximately $145.275 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 to provide a high level of total return on its assets with an emphasis on dividends and income. Its common shares trade on the New York Stock Exchange under the symbol “GDV.” The Fund’s investment adviser is Gabelli Funds, LLC.
The Simpson Thacher team included Ryan Brizek, Jeremy Entwistle and Andy Madore (Registered Funds); Jonathan Cantor and Gurnaina Chawla (Tax); and Jennie Getsin (FINRA and Blue Sky).