Business in the Burbs

Gamco subsidiary to offer shares to public

August

A subsidiary of money manager Mario Gabelliâ€™s mutual fund company plans to go public.

Rye-based Gamco Investors Inc. said this morning that Gabelli Entertainment & Telecommunications Acquisition Corp., has notified the U.S. Securities and Exchange Commission that it plans to raise up to $200 million by offering 20 million units at $10 apiece.

Each unit consists of one share of stock and one warrant. The company was formed to acquire businesses in the media, entertainment, telecommunications and financial services industries.

This entry was posted on Tuesday, August 5th, 2008 at 8:52 am by Allan Drury.
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