Teton Advisors Sells the Advisory Assets of Keeley-Teton Advisors, LLC

GREENWICH, Conn.--(BUSINESS WIRE)--Teton Advisors, Inc. (“Teton”) (OTCQX: TETAA) agrees to sell the investment management account assets of Keeley-Teton Advisors, LLC (“Keeley”) to GAMCO Investors, Inc. (“GAMCO”) (OTCQX: GAMI). The transaction proceeds are tied to performance over a 5-year period and are expected to gross at least $11.5 million.

Keeley manages approximately $975 million of client assets and was purchased by Teton in 2017 from TA Associates at the time with client assets in excess of $2.3 billion. The Keeley accounts have been managed and serviced by a team of Teton and GAMCO professionals since acquisition. The sale culminates a comprehensive strategic alternatives process conducted over the last year.

Teton Advisors, Inc. will share more details on its business plans on an investor call and at its annual shareholder meeting, details which will be released on the Company’s website https://www.tetonadv.com.

About Teton Advisors, Inc.

Teton Advisors, Inc. (OTCQX: TETAA) is a multi-strategy active asset manager, operating a family of Teton Westwood mutual funds. From modest beginnings over 40 years ago, to today, The Disciplined Discovery of Value™ shapes the cornerstone for clients' long-term success.

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