Gabelli Equity Trust Announces Updated Rights Offering Price and Extends Expiration Date to April 21, 2026

Gabelli Equity Trust (NYSE: GAB) updated terms of its Rights Offering: the Subscription Price is reduced to $5.00 per share (previously $5.50) and the Offer expiration is extended to April 21, 2026 at 5:00 PM ET.

Rhea-AI Summary

Gabelli Equity Trust (NYSE: GAB) updated terms of its Rights Offering: the Subscription Price is reduced to $5.00 per share (previously $5.50) and the Offer expiration is extended to April 21, 2026 at 5:00 PM ET. Ten Rights remain required to buy one additional share.

Previously submitted broker subscriptions will be cancelled; shareholders must resubscribe at the new price to participate. Rights continue trading on NYSE through April 20, 2026. The offering is subject to a prospectus supplement and additional terms.

Positive

• Subscription Price reduced to $5.00 per share
• Offer expiration extended to April 21, 2026

Negative

• Broker-submitted subscriptions cancelled; shareholders must resubmit
• Rights stop trading on NYSE after April 20, 2026

Argus Apr 1 session

-3.21% close to close Open Argus

Details

News Market Reaction – GAB

On Apr 1, the first trading day after this news, GAB closed 3.21% below the previous close.

Data tracked by StockTitan Argus for the Apr 1 session.

Key Figures

Updated Subscription Price: $5.00 per share Prior Subscription Price: $5.50 per share Offer Expiration: April 21, 2026, 5:00 PM ET +5 more

Updated Subscription Price

$5.00 per share

Revised rights offering subscription price in March 31, 2026 update

Prior Subscription Price

$5.50 per share

Original rights offering subscription price before March 31, 2026 revision

Offer Expiration

April 21, 2026, 5:00 PM ET

Extended rights offering expiration date

Rights Ratio

10 Rights for 1 share

Primary subscription entitlement for common stock under the Offer

Current Share Price

$5.60

GAB price before the March 31, 2026 announcement

New Common Shares

31,119,670 shares

Transferable rights offering size from March 2, 2026 prospectus

Gross Proceeds

$171,158,185

Expected gross proceeds at $5.50 subscription price from 424B2

Offering Expenses

$600,000

Estimated expenses related to rights offering per 424B2 filing

Historical Context

3 past events · Latest: Feb 17

3 events

1. Feb 17

   Performance & rights terms

   24h Move

   -1.9%

   Announced strong 2025 return, 10% policy, and initial rights offering structure.

2. Feb 11

   Distribution declaration

   24h Move

   -0.8%

   Reaffirmed 10% distribution policy and set first 2026 cash payout.

3. Nov 12

   Distribution update

   24h Move

   +0.2%

   Confirmed 10% policy and a quarterly payout above implied guideline.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

rights offering, subscription price, over-subscription privilege, primary subscription rights, +1 more

5 terms

rights offering financial

"updated the offering price of its previously announced Rights Offering (the “Offer”)"

A rights offering is a way for a company to raise additional money by giving existing shareholders the opportunity to buy more shares at a discounted price before they are offered to the public. It’s similar to a special sale where current owners get the first chance to buy extra items at a lower cost, allowing them to increase their investment if they choose. This process matters to investors because it can affect the value of their holdings and their ability to buy new shares at favorable terms.

View in glossary

subscription price financial

"Under the updated terms of the Offer, the Subscription Price will be $5.00 per share"

Subscription price is the set amount an investor pays to buy newly issued shares, bonds or units when a company offers them directly, such as in a rights issue or subscription offering. It matters because it determines how much an investor’s ownership cost will be, affects potential gains or losses and influences dilution of existing shareholders—think of it as a pre-order price that helps decide whether joining the new issue is worthwhile.

over-subscription privilege financial

"eligible for an over-subscription privilege entitling these shareholders to subscribe"

An over-subscription privilege is a feature of a share offering that lets existing investors request more shares than their initial entitlement, with any extra allocation given only if other investors do not take their full allotment. It matters because it gives shareholders a chance to increase their stake and avoid losing ownership percentage, much like ordering extra slices at a party in case others pass—however, receiving the extras is not guaranteed.

primary subscription rights financial

"shareholders who fully exercise their Primary Subscription Rights will be eligible"

Primary subscription rights are the short-term privileges given to existing shareholders to buy newly issued shares before the general public, usually at a set price. They matter because they let investors keep their ownership share and avoid having their stake reduced when a company issues more stock; think of it like getting first dibs on extra slices when a pizza is being expanded so your portion doesn’t shrink. Exercising or selling these rights can affect an investor’s holdings and the stock’s supply and price.

prospectus supplement regulatory

"only be made by a final prospectus supplement and accompanying prospectus"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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GREENWICH, Conn., March 31, 2026 (GLOBE NEWSWIRE) -- The Gabelli Equity Trust (NYSE: GAB) (the “Fund”) today announced that is has updated the offering price of its previously announced Rights Offering (the “Offer”) and has extended the expiration date of the Offer.

Under the updated terms of the Offer, the Subscription Price will be $5.00 per share, replacing the prior Subscription Price of $5.50. This revised price reflects current market conditions and investor feedback.

In addition, the expiration date of the Offer has been extended to April 21, 2026, at 5:00 PM Eastern Time.

As previously announced, ten Rights enable a shareholder to purchase one additional share of common stock. Record date shareholders who fully exercise their Primary Subscription Rights will be eligible for an over-subscription privilege entitling these shareholders to subscribe, subject to certain limitations and a pro-rata allotment, for any additional common shares not purchased pursuant to the Primary Subscription at the same Subscription Price.

The Rights will continue to trade on the New York Stock Exchange through April 20, 2026.

Important Notice to Shareholders Who Have Already Exercised Their Rights Through Their Broker: In light of the change in the Subscription Price and the expiration date, subscriptions previously submitted through brokers will be cancelled and shareholders who wish to remain in the Offer must contact the submitting broker to resubscribe at the current $5.00 Subscription Price prior to the expiration date.

The information herein is not complete and is subject to change. This document is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a final prospectus supplement and accompanying prospectus. Investors should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. The base prospectus contains this and additional information about the Fund and the prospectus supplement will contain this and additional information about the Offering, and should be read carefully before investing. For further information regarding the Offering, or to obtain a prospectus supplement and the accompanying prospectus, when available, please contact the Fund at 800-GABELLI or 914-921-5070.

About The Gabelli Equity Trust
The Gabelli Equity Trust Inc. is a diversified, closed-end management investment company with $2 billion in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE – GAB
CUSIP – 362397101

For Information:
Laurissa Martire
(914) 921-5399

THE GABELLI EQUITY TRUST
Investor Relations Contact: 
Laurissa Martire
(914) 921-5399
lmartire@gabelli.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did Gabelli Equity Trust (GAB) make to the Rights Offering price on March 31, 2026?

The Subscription Price was lowered to $5.00 per share, down from $5.50. According to the company, this revision reflects current market conditions and investor feedback and applies to the previously announced Rights Offering.

When does the Gabelli Equity Trust (GAB) Rights Offering now expire and what is the deadline?

The Offer now expires on April 21, 2026 at 5:00 PM ET. According to the company, shareholders must subscribe by that deadline to participate at the revised $5.00 Subscription Price.

What should shareholders who already exercised Rights through brokers do after the GAB price change?

Previously submitted broker subscriptions will be cancelled; shareholders must resubmit if they wish to participate. According to the company, affected shareholders should contact the submitting broker to resubscribe at $5.00 before the April 21, 2026 deadline.

How many Rights are required to buy one additional share in Gabelli Equity Trust's (GAB) offering?

Ten Rights entitle a shareholder to purchase one additional common share. According to the company, record date shareholders who fully exercise Primary Subscription Rights may apply for over-subscription subject to limitations and pro-rata allotment.

How long will the Rights trade on the NYSE for Gabelli Equity Trust (GAB) before expiration?

The Rights will trade on the NYSE through April 20, 2026. According to the company, trading ceases April 20 ahead of the Offer's expiration on April 21, 2026 at 5:00 PM ET.