Gabelli to sell $110 million three-year mandatory convertibles via Merrill

New York, Jan. 29 - Gabelli Asset Management Inc. said it plans to sell $110 million of mandatory convertible securities using the Feline Prides structure this week.

Merrill Lynch & Co. will be lead manager for the offering with Gabelli & Co. as co-manager.

The Feline Prides will be composed of a purchase contract requiring Gabelli to sell class A common stock to the holders after three years and a five-year senior note.

Proceeds will be used for general corporate purposes, according to the Rye, N.Y. asset management company.

The off-the-shelf offering has a $16.5 million greenshoe.

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