Gabelli Healthcare & WellnessRx Trust Announces the Offering of $40 Million of 4.00% Series E Cumulative Preferred Shares

Rhea-AI Summary

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) announced the issuance of four million Series E Cumulative Preferred Shares, totaling $40 million. The 4.00% preferred shares have a liquidation preference of $10 each and are non-callable until December 26, 2024, with quarterly distributions starting on the same date. This move aims to enhance the Fund's capital structure and support its long-term growth strategy. The Fund currently manages total net assets of $337 million and is managed by Gabelli Funds, LLC.

Positive

• Issuance of 4 million Series E Preferred Shares raises $40 million for the Fund.
• 4.00% dividend provides a stable income stream for investors.
• The Fund has total net assets of $337 million, indicating strong financial standing.

Negative

• None.

RYE, N.Y.--(BUSINESS WIRE)-- The Board of Trustees of The Gabelli Healthcare & Wellness^Rx Trust (NYSE:GRX) (the “Fund”) is pleased to announce the issuance of four million 4.00% Series E Cumulative Preferred Shares (“Series E Preferred”) with an aggregate liquidation value of $40 million.

The Series E Preferred is non-callable until December 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 Healthcare & Wellness^Rx Trust

The Gabelli Healthcare & Wellness^Rx Trust is a diversified, closed-end management investment company with $337 million in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

NYSE: GRX
CUSIP – 36246K103

View source version on businesswire.com: https://www.businesswire.com/news/home/20211015005580/en/

Investor Relations Contact:

Bethany Uhlein

914.921.5546

buhlein@gabelli.com

Source: The Gabelli Healthcare & WellnessRx Trust

FAQ

What are the details of the Series E Preferred Shares issued by Gabelli Healthcare & Wellness Trust?

Gabelli Healthcare & Wellness Trust issued four million Series E Cumulative Preferred Shares at a total value of $40 million, with a 4.00% dividend and a liquidation preference of $10 per share.

When will the Series E Preferred Shares start paying distributions?

Distributions for the Series E Preferred Shares will begin quarterly on December 26, 2021.

What is the total net asset value of Gabelli Healthcare & Wellness Trust?

The Gabelli Healthcare & Wellness Trust manages total net assets of $337 million.

Is the Series E Preferred Shares callable?

The Series E Preferred Shares are non-callable until December 26, 2024.

Who manages the Gabelli Healthcare & Wellness Trust?

The Gabelli Healthcare & Wellness Trust is managed by Gabelli Funds, LLC.