Gabelli Global Small and Mid Cap Value Trust Announces the Offering of $40 Million of 4.00% Series B Cumulative Preferred Shares

Rhea-AI Summary

The Board of Trustees of The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) has announced the issuance of four million 4.00% Series B Cumulative Preferred Shares with a total liquidation value of $40 million. These shares are non-callable until September 26, 2024 and have a liquidation preference of $10 each. Quarterly distributions will commence on December 26, 2021. The Fund aims for long-term capital growth, investing primarily in small to medium market capitalization equity securities.

Positive

• Issuance of four million 4.00% Series B Cumulative Preferred Shares valued at $40 million.
• Preferred shares provide a stable distribution structure for investors.
• Fund aims for long-term capital growth with $233 million in total net assets.

Negative

• None.

RYE, N.Y.--(BUSINESS WIRE)-- The Board of Trustees of The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) (the “Fund”) is pleased to announce the issuance of four million 4.00% Series B Cumulative Preferred Shares (“Series B Preferred”) with an aggregate liquidation value of $40 million.

The Series B Preferred is non-callable until September 26, 2024, and has a liquidation preference of $10 per share. Distributions are scheduled to be paid quarterly beginning on December 26, 2021.

The Board of Trustees would like to thank all participants in the offering.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. More information regarding this and other information about the Fund is available by calling 800-GABELLI (800-422-3554) or visiting www.gabelli.com.

About The Gabelli Global Small and Mid Cap Value Trust

The Gabelli Global Small and Mid Cap Value Trust is a diversified, closed-end management investment company with $233 million in total net assets whose primary investment objective is to achieve long-term capital growth of capital. Under normal market conditions, the Fund will invest at least 80% of its total assets in equity securities (such as common stock and preferred stock) of companies with small or medium sized market capitalizations. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

NYSE – GGZ
CUSIP – 36249W104

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005566/en/

Investor Relations Contact:

Bethany Uhlein

(914) 921-5546

buhlein@gabelli.com

Source: The Gabelli Global Small and Mid Cap Value Trust

FAQ

What type of shares did GGZ issue?

GGZ issued four million 4.00% Series B Cumulative Preferred Shares.

What is the liquidation value of the new preferred shares?

The liquidation value of the Series B Preferred Shares is $40 million.

When will distributions for the preferred shares begin?

Distributions will begin on December 26, 2021.

What is GGZ's primary investment objective?

GGZ aims for long-term capital growth by investing primarily in small to medium market capitalization equity securities.

What is the liquidation preference per share for the Series B Preferred Shares?

The liquidation preference is $10 per share.

What are the total net assets of The Gabelli Global Small and Mid Cap Value Trust?

The Fund has total net assets of $233 million.