CEF Gabelli Healthcare and Wellness Sells Preferred Shares in Private Transactions

Closed end fund (GEF) Gabelli Healthcare and Wellness (GRX) has sold 2 tranches (each $40 million) of preferred stock in private transactions. Each issuance was of the Series E $10/share, 4% cumulative preferred.

GRX, which called their 2 publicly traded preferreds in April, 2020 and December 2020, has moved to private transactions to sell their most recent preferred offerings.

fc came across the most recent offering which was is a cumulative issue here–filed on Form D as a Rule 506(b) transaction (private placement).

The company had done a similar deal in 12/2020.

This is irritating as Gabelli is my favorite preferred issuing CEF–looks like the future is bleak for them selling publicly traded preferred shares as they are likely saving plenty of cash selling them privately.

2 thoughts on “CEF Gabelli Healthcare and Wellness Sells Preferred Shares in Private Transactions”

  1. I’m with you on Gabelli, Tim. Like their CEF portfolio the best. Too bad on this one.

    1. Ron–I have owned them for years, but not lately as they are always too high–not sure we will see any further opportunities from them

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