The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) (the "Fund") has approved a transferable rights offering which would allow the Fund's record date common shareholders to acquire additional common shares (the "Offering"). The Offering will be made only by means of a prospectus, and this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Fund's securities.
SUMMARY OF THE TERMS OF THE OFFERING
The Fund expects to mail subscription certificates evidencing the Rights and a copy of the prospectus for the Offering to record date shareholders beginning on March 14, 2022. Financial Advisors will likely send notices to you shortly thereafter. Inquiries regarding the Offering should be directed to:
David Schachter at 914-921-5057.
The Offering is made pursuant to the Fund's effective shelf registration statement on file with the Securities and Exchange Commission.
Any common shares issued as a result of the Offering will not be record date shares for the Fund's monthly distributions to be paid on March 24, 2022 and April 22, 2022, and will not be entitled to receive such distributions.
Depending on market conditions at the time of closing, the Fund may use the net proceeds from the offering for investment purposes consistent with the Fund's investment objectives or, in the discretion of the Board, the proceeds may be used to redeem shares of the Fund's outstanding preferred stock.
The information herein is not complete and is subject to change. This document is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a final prospectus. Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. The base prospectus contains this and additional information about the Fund and the prospectus supplement will contain this and additional information about the Offering, and should be read carefully before investing. For further information regarding the Offering, or to obtain a prospectus supplement and the accompanying prospectus, when available, please contact the Fund at 914-921-5057.
About The Gabelli Utility Trust
The Gabelli Utility Trust is a diversified, closed-end management investment company with $329 million in total net assets whose primary investment objective is to seek long-term growth of capital and income by investing primarily in utility companies involved in the generation and distribution of electricity, gas, and water. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).
NYSE ? GUT
CUSIP ? 36240A101