Gabelli Equity Trust Lowers Rights Offering Price to $5.00 and Extends Deadline

The Gabelli Equity Trust (GAB) has announced significant updates to its ongoing rights offering, lowering the subscription price to $5.00 per share. This strategic price adjustment is designed to make the offering economically attractive to investors relative to the fund's current market trading value. In addition to the price cut, the fund has extended the expiration deadline for the offering until April 21, 2026. Shareholders who had previously exercised their rights are required to resubscribe at the newly established $5.00 price point. These measures aim to ensure a successful capital raising round by providing a clear discount opportunity for existing stakeholders. The extension and price reduction are expected to bolster participation rates and strengthen the fund's overall capital base.