Gabelli Multimedia Trust Announces ATM Offering of Common Stock

The Gabelli Multimedia Trust Inc. (NYSE: GGT) ('the Fund'), currently valued at $155.45 million with a notable dividend yield of 21.67%, has entered into a sales agreement with G.research, LLC, initiating an 'at the market' offering of up to 5 million shares of common stock. The arrangement, effective as of April 16, 2025, allows the Fund to sell shares from time to time, with the minimum sale price set above the current net asset value per share, inclusive of the commission to be paid to the distributor. According to InvestingPro data, the Fund trades at a P/E ratio of 12.54, suggesting moderate valuation levels.

This offering is part of a shelf registration statement previously filed with the Securities and Exchange Commission (SEC) and is accompanied by a prospectus supplement dated April 17, 2025, and a base prospectus dated April 19, 2024. The Fund commenced the offering on Monday, April 21, 2025.

The Fund’s decision to enter into this agreement aligns with its strategy to raise capital efficiently. The proceeds from the sale of common stock are expected to be used for general corporate purposes, which may include investment in securities in accordance with the Fund’s investment objectives and policies, and for working capital. The legal opinion regarding the common stock’s legality has been provided by Venable LLP and is included in the SEC filing as an exhibit. This opinion is a customary document for such transactions, ensuring that the securities being offered are legally permitted to be sold. Investors interested in the Gabelli Multimedia Trust’s common stock should refer to the prospectus supplement and accompanying prospectus for more details on the terms of the offering. The sales agreement and legal opinion are available as exhibits to the Fund’s SEC filings, which provide additional context for the offering.

Gabelli Multimedia Trust Announces ATM Offering of Common Stock By Investing.com

Gabelli Multimedia Trust Inc. (NYSE: GGT) announced an 'at the market' offering of up to 5 million shares of common stock on April 16, 2025, with a minimum sale price set above the current net asset value per share. The Fund, valued at $155.45 million and trading at a P/E ratio of 12.54, aims to raise capital for general corporate purposes, including investment in securities and working capital.