Ellsworth Growth and Income Fund’s $30 million of 5.25% cumulative preferreds admitted to NYSE

By Stephanie N. Rotondo

Seattle, Sept. 20 – Ellsworth Growth and Income Fund Ltd.’s $30 million of 5.25% series A cumulative preferred shares listed on the New York Stock Exchange on Wednesday.

The ticker symbol is “ECFPrA.”

The deal came Sept. 13. Price talk was 5.25% to 5.375%.

Morgan Stanley & Co. LLC was the bookrunner.

Dividends will be payable on a quarterly basis. The issue becomes redeemable in 2022 at par plus accrued dividends.

The preferreds also become mandatorily redeemable in certain circumstances.

Proceeds will be used to purchase portfolio securities in accordance with the company’s investment objectives and policies.

Ellsworth is a Morristown, N.J.-based diversified, closed-end management investment company.

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