Gabelli Multimedia Trust amends sales pact; ATM up to 10,000,000

Rhea-AI Filing Summary

Gabelli Multimedia Trust Inc. (GGT) amended its sales agreement to launch an at-the-market offering of up to 10,000,000 shares of common stock. The Fund may sell shares from time to time through G.research, LLC, in transactions deemed “at the market” under Rule 415. The minimum price on any day will be no less than the then current net asset value per share plus the per share commission payable to the Sales Manager.

The offering is being made under a prospectus supplement dated October 14, 2025 and an accompanying prospectus dated April 19, 2024, as part of the Fund’s effective shelf registration on Form N-2. The Fund commenced sales on October 14, 2025. A legal opinion from Venable LLP and related consents were filed as exhibits.

Insights

Closed-end fund capital markets analyst

Routine ATM setup; flexible issuance capped at 10,000,000 shares.

GGT updated its sales agreement to permit an at-the-market program for up to 10,000,000 common shares via G.research, LLC. ATM programs allow incremental issuances into market demand, potentially smoothing market impact compared with block offerings.

Sales are constrained by a floor: the price must be at least the then current NAV per share plus the per-share commission. This guardrail aligns with common closed-end fund practice to avoid issuing below NAV after commissions.

The offering commenced on October 14, 2025 under a Form N-2 shelf with a current prospectus supplement. Actual issuance volume and proceeds will depend on trading conditions and manager instructions.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 10, 2025

Gabelli Multimedia Trust Inc.

(Exact name of registrant as specified in its charter)

Maryland		811-08476		13-3767317
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

One Corporate Center, Rye, New York		10580
(Address of principal executive offices)		(Zip Code)

Registrants telephone number, including area code (800) 422-3554

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		GGT		New York Stock Exchange
5.125% Series G Cumulative Preferred Stock		GGTPrG		New York Stock Exchange
5.125% Series E Cumulative Preferred Stock		GGTPrE		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

On October 10, 2025, The Gabelli Multimedia Trust Inc. (NYSE: GGT) (the “Fund”) entered into amendment no. 1 to the sales agreement dated April 17, 2025 (the “Amendment” and the agreement, as so amended, the “Sales Agreement”), between the Fund and G.research, LLC (the “Sales Manager”), pursuant to which the Fund may offer and sell up to 10,000,000 share of common stock of the Fund, par value $0.001 per share (the “Common Stock”), from time to time, through the Sales Manager, in transactions deemed to be “at the market” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Offering”). The minimum price on any day at which Common Stock may be sold will not be less than the then current net asset value per share plus the per share amount of the commission to be paid to the Sales Manager.

The Offering is being made pursuant a prospectus supplement, dated October 14, 2025 and the accompanying prospectus, dated April 19, 2024, each of which constitute part of the Fund’s effective shelf registration statement on Form N-2 (File No. 333-277213) previously filed with the Securities and Exchange Commission (the “Registration Statement”).

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment filed with this report as Exhibit 1.1 and incorporated herein by reference.

Item 8.01. Other Events.

On October 14, 2025, the Fund commenced the Offering pursuant to the Fund’s Registration Statement. A copy of the opinion of Venable LLP relating to the legality of the Common Stock is filed as Exhibit 5.1 to this report.

The Fund incorporates by reference the exhibits filed herewith into the Registration Statement.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

	1.1		Amendment No. 1 to Sales Agreement between the Registrant and G.research, LLC
	5.1		Opinion of Venable LLP
	23.1		Consent of Venable LLP (included in Exhibit 5.1)

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	THE GABELLI MULTIMEDIA TRUST INC.
Date: October 14, 2025	By:	/s/ John C. Ball
	Name:	John C. Ball
	Title:	President and Treasurer

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FAQ

What did GGT announce regarding its capital raising plans?

GGT amended its sales agreement to conduct an at-the-market offering of up to 10,000,000 shares of common stock through G.research, LLC.

How will GGT determine pricing for ATM share sales?

On any day, shares will not be sold below the then current net asset value per share plus the per share commission.

When did GGT commence the ATM offering?

The Fund commenced the offering on October 14, 2025 under its effective Form N-2 shelf.

Which documents govern GGT’s ATM program?

A prospectus supplement dated October 14, 2025 and the accompanying April 19, 2024 prospectus under the Fund’s Form N-2 registration.

Who is the sales manager for GGT’s ATM offering?

G.research, LLC serves as the Sales Manager under the amended Sales Agreement.

What legal opinions were filed with the announcement?

An opinion of Venable LLP regarding the legality of the common stock (Exhibit 5.1) and related consent (included in Exhibit 5.1).