Gabelli Go Anywhere Trust Announces Plan to Liquidate

Rhea-AI Summary

The Gabelli Go Anywhere Trust (NYSE American:GGO) announced the adoption of a Plan of Liquidation and termination of the Fund, following a tender offer that repurchased approximately 97% of its outstanding common shares. This decision aligns with the provisions in the Fund's Declaration of Trust and reflects a significant movement toward concluding its financial operations.

Managed by Gabelli Funds, LLC, the Fund's investment strategy focused on total return through capital appreciation and current income.

Positive

• Completion of a tender offer resulting in the repurchase of approximately 97% of outstanding shares.

Negative

• Approval of liquidation plan indicates the termination of the Fund, which may lead to loss of investment for remaining shareholders.

RYE, N.Y.--(BUSINESS WIRE)-- The Gabelli Go Anywhere Trust (NYSE American:GGO, the “Fund”) announced today that the Fund’s Board of Trustees approved the adoption of a Plan of Liquidation and the termination of the Fund. This approval was made as provided for in the Fund's Declaration of Trust and after considering the results of the Fund’s recent tender offer for 100% of its issued and outstanding common shares, which resulted in the Fund purchasing approximately 97% of its outstanding common shares.

About Gabelli Go Anywhere Trust

The Gabelli Go Anywhere Trust is a non-diversified, closed-end management investment company whose primary investment objective is total return, consisting of capital appreciation and current income. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

NYSE American:GGO
CUSIP – 36250J109

View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005606/en/

For Information:

David Schachter

(914)-921-5057

Source: Gabelli Go Anywhere Trust

FAQ

What is the Gabelli Go Anywhere Trust's recent announcement regarding liquidation?

The Gabelli Go Anywhere Trust (NYSE American:GGO) has announced a Plan of Liquidation and termination after purchasing approximately 97% of its outstanding shares in a recent tender offer.

What was the outcome of the recent tender offer for Gabelli Go Anywhere Trust?

The recent tender offer for Gabelli Go Anywhere Trust resulted in the repurchase of about 97% of its issued common shares.

What does the liquidation of Gabelli Go Anywhere Trust mean for investors?

The liquidation of Gabelli Go Anywhere Trust indicates a complete termination of the Fund, which may negatively impact remaining investors.