GAMCO Natural Resources, Gold & Income Trust Announces the Offering of $30 Million of 5.20% Series A Cumulative Preferred Sha...
October 23 2017 - 4:05PM
Business Wire
The Board of Trustees of the GAMCO Natural Resources, Gold &
Income Trust (NYSE:GNT) (the “Fund”) is pleased to announce the
pricing of an offering of 1.2 million 5.20% Series A Cumulative
Preferred Shares (“Series A Preferred”) with an aggregate
liquidation value of $30 million. The offering is expected to close
on Thursday, October 26, 2017, subject to customary closing
conditions.
The Fund expects to use the proceeds from the offering for
investment purposes consistent with the Fund’s investment
objectives.
The Series A Preferred is perpetual, non-callable for five
years, and has a liquidation value of $25 per share. Distributions
are scheduled to be paid quarterly beginning on December 26, 2017.
Shares of the Series A Preferred are expected to commence trading
on the New York Stock Exchange under the symbol “GNT Pr A” within
thirty days of the date of issuance.
The Board of Trustees would like to thank all participants in
the offering, which was led by Wells Fargo Securities, LLC.
G.research, LLC also participated in the offering.
The GAMCO Natural Resources, Gold & Income Trust is a
non-diversified, closed-end management investment company with $149
million in total net assets whose primary investment objective is
to provide a high level of current income from interest, dividends,
and option premiums. The Fund’s secondary objective is to seek
capital appreciation consistent with the Fund’s strategy and its
primary objective. Under normal market conditions, the Fund invests
primarily in equity securities of natural resources and gold
companies and, as part of its investment strategy, intends to
generate current income from short-term gains through a strategy of
writing (selling) covered call options on equity securities in its
portfolio. The Fund is managed by Gabelli Funds, LLC, a subsidiary
of GAMCO Investors, Inc. (NYSE:GBL).
A registration statement relating to these securities has
been filed with the Securities and Exchange Commission and is
effective. This press release is not an offering, which can
only be made by a prospectus. Investors should consider the
Fund’s investment objective, risks, charges, and expenses carefully
before investing. The Fund’s prospectus supplement relating
to the Series A Preferred and the Fund’s base prospectus contain
this and additional information about the GAMCO Natural Resources,
Gold & Income Trust and the Series A Preferred, and should be
read carefully before investing. Visit
www.gabelli.com for more information about the
Fund.
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version on businesswire.com: http://www.businesswire.com/news/home/20171023006345/en/
GAMCO Natural Resources, Gold & Income TrustDavid Schachter
or Molly Marion, 914-921-5070
Gamco Investors (NYSE:GBL)
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