In what I assume is another private placement by Gabelli, the Gabelli Global Small and Midcap Value Trust has sold a new preferred issue.
The press releases states they have sold a 4% cumulative perpetual preferred issue. 4 million shares have been sold. Like a previous private offering the shares have a liquidation value of $10.00.
The company currently has a 5.45% issue (GGZ-A) outstanding which became redeemable on 5/10/2021. I assume these shares will be called any minute.
The company press release can be read here.
mbg ferreted this press release out.
Is there a filing indicating a Use of Proceeds?
LandLord–no filing as of yet. I’ve been watching for it–since this pandemic started filings have been so damned slow.
GDV-A has an only 15 day notice provision for calling…not the normal 30
Thanks, Tim