-

The GDL Fund Announces the Placement of $35 Million of Series E Cumulative Term Preferred Shares

RYE, N.Y.--(BUSINESS WIRE)--The Board of Trustees of The GDL Fund (NYSE:GDL) (the “Fund”) is pleased to announce the issuance of 3,500,000 Series E Cumulative Term Preferred Shares (“Series E Preferred”) with a liquidation value of $10 per share and an aggregate liquidation value of $35 million.

The Series E Preferred has a mandatory redemption date of March 26, 2025, is puttable on March 26, 2023 and March 26, 2024, and is callable on March 26, 2024. Distributions are 4.00% until March 26, 2023, 4.25% from March 26, 2023 to March 26, 2025, and are scheduled to be paid quarterly beginning on June 26, 2022.

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. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

Laurissa Martire
(914) 921-5399

About The GDL Fund

The GDL Fund is a diversified, closed-end management investment company with $212 million in total net assets whose investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

NYSE – GDL
CUSIP – 361570104

Contacts

Laurissa Martire
(914) 921-5399

Industry:

The GDL Fund

NYSE:GDL
Release Versions
English

Contacts

Laurissa Martire
(914) 921-5399

More News From The GDL Fund

The GDL Fund Declares First Quarter Distribution of $0.12 Per Share

RYE, N.Y.--(BUSINESS WIRE)--The Board of Trustees of The GDL Fund (NYSE:GDL) (the “Fund”) declared a $0.12 per share cash distribution payable on March 24, 2023 to common shareholders of record on March 17, 2023. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund. The F...

The GDL Fund Declares Fourth Quarter Distribution of $0.12 Per Share

RYE, N.Y.--(BUSINESS WIRE)--The Board of Trustees of The GDL Fund (NYSE:GDL) (the “Fund”) declared a $0.12 per share cash distribution payable on December 16, 2022 to common shareholders of record on December 9, 2022. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund....

The GDL Fund Declares Third Quarter Distribution of $0.12 Per Share

RYE, N.Y.--(BUSINESS WIRE)--The Board of Trustees of The GDL Fund (NYSE:GDL) (the “Fund”) declared a $0.12 per share cash distribution payable on September 23, 2022 to common shareholders of record on September 16, 2022. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fun...
Back to Newsroom