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The GDL Fund Authorizes Non-Transferable Preferred Share Rights Offering

GDL FUND COMMON (GDL)  More Company Research Source: Business Wire
US:NYSE Investor Relations: gabelli.com/funds/products/-117.html
PDF RYE, N.Y.--(BUSINESS WIRE)-- The Board of Trustees of The GDL Fund (NYSE:GDL) (the “Fund”) has approved in principle a non-transferable rights offering (the “Offering”) by the Fund to the holders of its Series B Cumulative Puttable and Callable Preferred Shares (the “Series B Preferred”) to acquire shares of a newly designated series of preferred shares, Series C Cumulative Puttable and Callable Preferred Shares (the “Series C Preferred”). Key aspects of the Offering, including the timing and the pricing, as well as the terms of the Series C Preferred and the amount of liquidation preference of Series C Preferred available for issuance in the Offering, have yet to be determined. The Offering, including the terms of the Series C Preferred, is subject to final approval by a pricing committee established by the Board, and the Board and/or the pricing committee reserves the right to delay or cancel the Offering. [Read more]

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