Gabelli Asset Management Inc. (NYSE: GBL) announced today that it filed with the Securities and Exchange Commission a "shelf" registration statement on Form S-3. Under the shelf process, Gabelli may from time to time sell any combination of senior and subordinate debt securities, convertible debt securities, equity securities and preferred securities up to a total amount to $200,000,000. The S-3 filing allows the company to register the securities in advance and then sell them when market conditions are favorable or when financing needs arise. The proceeds from securities sold under the shelf will be used for general corporate purposes, including working capital and the expansion of investment product offerings, enhanced distribution and marketing of existing investment products and strategic acquisitions. Gabelli Asset Management Inc., through its subsidiaries, manages more than $22 billion in assets in mutual funds and closed end funds (Gabelli Funds, LLC) partnerships and offshore funds (Alternative Investments) and private advisory accounts (GAMCO). A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted before the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of any such state
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