GBL - GBL STOCK NEWS

The Gabelli Go Anywhere Trust (GGO) announced an issuer tender offer to buy back its common shares for cash. The offer starts on August 3, 2021, and ends on September 24, 2021. Shares will be purchased at 98% of the net asset value (NAV) determined just before the offer expires. As of July 30, 2021, GGO had 1,546,852 shares outstanding, with a NAV of $17.24 and a market price of $16.21, reflecting a 5.97% discount to NAV. Detailed terms will be provided in upcoming documents filed with the SEC.

GAMCO Investors, Inc. (NYSE: GBL) has announced the filing of a new $500 million shelf registration statement, replacing an expired one. This allows the issuance of various financial securities. The company expects to report second quarter 2021 diluted earnings in the range of $0.62 to $0.66 per share, up from $0.42 per share in Q2 2020. As of June 30, 2021, GAMCO's assets under management were $34.6 billion, significantly higher than $29.4 billion a year prior. Further financial details are expected in early August.

The Gabelli Equity Trust Inc. (NYSE:GAB) has completed its transferable rights offering, issuing over 26.2 million common shares and raising approximately $144 million. Shareholders as of June 2, 2021, received rights to purchase shares at $5.50 each. The offering, which closed on July 14, 2021, saw total subscriptions reaching about $267 million, reflecting strong demand. Approximately 64% of the shares were subscribed in the primary offering, with the remaining shares allocated through an over-subscription process. New shares are expected to be issued on July 21, 2021.

GAMCO Investors, Inc. (NYSE: GBL) announced the opening of a new office in Charleston, SC, in July 2021, led by Christina M. Bronec as Senior Vice President. With over a decade of experience in wealth management at GAMCO, Bronec will focus on expanding services in the Southeast, supported by her extensive background in portfolio management and client relations, handling over $3B in assets. Mario J. Gabelli, Chairman, emphasized this as a strategic move to meet rising market demands.

The Gabelli Multimedia Trust Inc. (NYSE:GGT) has authorized a transferable rights offering for current shareholders. Each shareholder will receive one right per share held on the record date of July 13, 2021. To acquire one additional share, four rights plus $9.50 is required. The offering period begins with rights trading on July 9, 2021, and ends at 5:00 PM ET on August 25, 2021. Notably, shares issued through this offering will not be eligible for the quarterly distribution planned for September 2021. The offering is conducted under an effective shelf registration statement.

GAMCO Investors, Inc. (NYSE: GBL) announced that its Chairman and CEO, Mario J. Gabelli, will waive all compensation for the period from July 1, 2021, to November 30, 2021. This decision reflects Mr. Gabelli's commitment to the firm amidst ongoing market challenges. GAMCO is recognized for its diverse investment strategies, including equity, ESG, and fixed income, serving various clients from institutions to retail investors. However, the release also mentions potential volatility and risks that could impact future performance.

Gabelli Funds is hosting its 13th Annual Entertainment & Broadcasting Conference virtually. This event will feature prominent broadcasting and entertainment companies' senior management presentations, focusing on industry dynamics, new technologies, and company fundamentals. Additionally, a Sports Valuation Panel will be included. Investors interested in attending can contact Justin Cramer or Katie Durkin for registration details.

The Gabelli Equity Trust Inc. (NYSE:GAB) has announced a transferable rights offering scheduled for June 2, 2021. Shareholders will receive one right for each share held, allowing them to purchase one additional share at a subscription price of $5.50 for ten rights. The offering includes an over-subscription privilege for shareholders who fully exercise their rights. The rights are expected to trade on the NYSE starting May 28, 2021, with the offering expiring on July 14, 2021. Proceeds may be used to redeem outstanding preferred stock.

Gabelli Funds announced the 2021 inductees to the GAMCO Management Hall of Fame during its thirty-sixth annual client conference held on May 14 at the Indian Harbor Yacht Club in Connecticut. The new inductees include notable leaders like Nick A. Caporella of National Beverage Corp. and John J. Legere, formerly of T-Mobile US. Established in 1990, the Hall of Fame honors corporate executives for their contributions to enhancing shareholder value. This year marks a total of 108 inductees recognized for creating wealth and achieving superior long-term returns.