|
The Board of Directors of The Gabelli Equity Trust Inc. (NYSE - GAB) authorized management to
file a registration statement with the Securities and Exchange Commission for an offering of
auction rate preferred stock.
The actual amount of capital to be raised, the initial dividend rate and the timing of the
offering have not been determined and will be announced at a later date. The proceeds raised
will be used for investment purposes. This announcement does not constitute an offering of any
securities, which will be made only by means of a prospectus.
The Gabelli Equity Trust Inc. is a closed-end, non-diversified management investment company
with $1.5 billion in total assets whose primary objective is long term growth of capital.
|