Ellsworth Growth and Income Fund Ltd. Announces the Placement of $25 Million of Series B Cumulative Preferred Shares
05 Julio 2022 - 3:36PM
Business Wire
The Board of Trustees of Ellsworth Growth and Income Fund Ltd.
(NYSE American: ECF) (the “Fund”) is pleased to announce the
issuance of Series B Cumulative Preferred Shares (“Series B
Preferred”) with an aggregate liquidation value of approximately
$25 million.
The Series B Preferred is puttable on June 26, 2023 and June 26,
2024, and is callable after June 26, 2024. Distributions are at an
annual rate of 4.40% of the $10.00 per share liquidation preference
of the Series B Preferred and are scheduled to be paid semiannually
beginning on December 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 about the Fund, call:
Bethany Uhlein (914) 921-5546
About Ellsworth Growth and Income Fund
Ellsworth Growth and Income Fund Ltd. is a diversified,
closed-end management investment company with $191 million in total
net assets. ECF invests primarily in convertible securities and
common stock with the objectives of providing income and the
potential for capital appreciation, objectives the Fund considers
to be relatively equal over the long-term due to the nature of the
securities in which it invests. The Fund is managed by Gabelli
Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).
NYSE American: ECF CUSIP – 289074106
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version on businesswire.com: https://www.businesswire.com/news/home/20220705005835/en/
Bethany Uhlein (914) 921-5546
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