GAMCO Calls Subordinated Notes
August 09 2022 - 4:15PM
Business Wire
GAMCO Investors, Inc. (“GAMCO”) (NYSE: GBL) announced today that
it has elected to call the remaining $33.7 million principal amount
of its subordinated notes due June 15, 2023 (CUSIP No. 361438AC8)
(the “Notes”) at a price equal to $1,012.50 per $1,000 principal
amount, which includes accrued and unpaid interest on such Notes
through the September 15, 2022 payment date at the stated rate of
5.00% per annum. The Notes were issued to GAMCO shareholders as a
special dividend of $2.00 per share in June 2021. GAMCO intends to
fund the Notes repayment with cash on hand.
About GAMCO Investors, Inc.
GAMCO is known for its research-driven value approach to equity
investing (known in the trade as PMV with a Catalyst™). GAMCO
conducts its investment advisory business principally through two
subsidiaries: GAMCO Asset Management Inc. (approximately 1,400
institutional and private wealth separate accounts, principally in
the U.S.) and Gabelli Funds, LLC (24 open-end funds, 14 closed-end
funds, 4 actively managed semi-transparent ETFs, and a SICAV).
GAMCO serves a broad client base including institutions,
intermediaries, offshore investors, private wealth, and direct
retail investors. In recent years, GAMCO has successfully
integrated new teams of RIAs by providing attractive compensation
arrangements and extensive research capabilities.
GAMCO offers a wide range of solutions for clients across Value
and Growth Equity, ESG, Convertibles, sector-focused strategies
including Gold and Utilities, Merger Arbitrage, and U.S. Treasury
Money Market Fixed Income. In 1977, GAMCO launched its flagship All
Cap Value strategy, Gabelli Value, and in 1986 entered the mutual
fund business.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220809006013/en/
Peter D. Goldstein General Counsel For further
information please visit www.gabelli.com
Gamco Investors (NYSE:GBL)
Historical Stock Chart
From Apr 2024 to May 2024
Gamco Investors (NYSE:GBL)
Historical Stock Chart
From May 2023 to May 2024