Company: BlackRock Innovation & Growth Term Trust

Form Type: DEFA14A

Filing Date: 2025-03-28

Type: New

Accession Number: 000119312525066862

Filing Summary: BlackRock Technology and Private Equity Term Trust is notifying its shareholders about an upcoming meeting scheduled for April 17, 2025, where they will vote on two main proposals. The first proposal seeks to allow the Fund to concentrate its investments within the Technology sector, while the second proposal aims to change the Fund's status from diversified to non-diversified to provide greater flexibility in pursuing its investment strategies. The Board recommends that shareholders vote 'FOR' each proposal. Shareholders have been encouraged to vote through various methods including online, by phone, or by mail, with additional resources for assistance provided in the proxy statement.

Form Type: N-CEN

Filing Date: 2025-03-17

Type: New

Accession Number: 000175272425058145

Filing Summary: On 2025-03-17, BlackRock Technology & Private Equity Term Trust filed a Form N-CEN, which includes information about its primary functions as an investment trust. The filing lists key service providers, including BlackRock Investments, LLC as the distributor and State Street Bank and Trust Company as the custodian. The document indicates that the trust does not engage in any corporate actions such as mergers, acquisitions, or liquidations. It provides diverse custodial and administrative details while referencing compliance with various regulations under the Investment Company Act.

Form Type: DEF 14A

Filing Date: 2025-03-12

Type: New

Accession Number: 000119312525052968

Filing Summary: On March 12, 2025, BlackRock Technology and Private Equity Term Trust filed a definitive proxy statement in connection with a special meeting for shareholders scheduled on April 17, 2025. The meeting will primarily address two proposals: the first proposal seeks shareholder approval to amend the Fund's fundamental investment restriction regarding industry concentration, allowing it to concentrate investments in technology sectors; the second proposal requests a change from a diversified to a non-diversified status under the Investment Company Act of 1940. The Board unanimously recommends voting 'FOR' both proposals. The proxy includes information on the voting process, shareholder participation in the virtual meeting, and the importance of shareholder votes in these matters. Shareholders as of February 19, 2025, are entitled to vote, and various methods of submitting votes are outlined in the document. Key focus areas discussed include the advantages of the proposed changes and their implications for the Fund's investment strategy.

Form Type: N-CSR

Filing Date: 2025-03-07

Type: New

Accession Number: 000119312525049680

Filing Summary: The document is a certified shareholder report for BlackRock Technology and Private Equity Term Trust (formerly known as BlackRock Innovation and Growth Term Trust) for the fiscal year ending December 31, 2024. It provides detailed financial information including total cumulative distributions, which consist of net income, net realized capital gains, and return of capital for various trusts. The report outlines the Trust's financial performance, investment strategies, and distribution policies, indicating a level distribution plan to provide consistent income to shareholders. No corporate actions such as spin-offs, mergers, or acquisitions are reported. The document discusses the risks associated with the Trusts' investment and distribution strategies, including the impact of economic changes and interest rate fluctuations. The report also emphasizes that a portion of the distributions may be a return of capital, which does not necessarily reflect a Trust’s investment performance. The Trust continues to implement an options overlay strategy to enhance returns, which can affect distribution stability depending on market conditions.

Form Type: NPORT-P

Filing Date: 2025-02-25

Type: New

Accession Number: 000175272425037909

Filing Summary: BlackRock Technology & Private Equity Term Trust filed its NPORT-P report on February 25, 2025. The report indicates the total assets and liabilities of the fund, with a reporting date of December 31, 2024. The net assets total 1,829,557,572.81 USD. The fund invested primarily in equity positions and option contracts, with detailed reporting on holdings including On Holding AG, Core & Main Inc, and others. The report also covers performance metrics related to holdings and their valuations during the reporting period.

Form Type: PRE 14A

Filing Date: 2025-02-21

Type: New

Accession Number: 000119312525032065

Filing Summary: On February 21, 2025, BlackRock Technology and Private Equity Term Trust filed a preliminary proxy statement in connection with a special meeting of shareholders scheduled for April 17, 2025. The primary purpose of the meeting is to seek shareholder approval for two proposals: (1) to amend the Fund's fundamental investment restriction to allow concentration in industries within the technology sector, and (2) to change the Fund's classification from diversified to non-diversified. These changes are aimed at providing greater investment flexibility under new principal investment strategies outlined in the proxy statement. The Board of Trustees unanimously recommends that shareholders vote in favor of both proposals. Shareholders recorded as of February 19, 2025, are entitled to vote. The meeting will be held virtually, allowing shareholders to participate and submit questions online. Voting can be done through various methods, including telephone and internet, ensuring it remains accessible for all shareholders. The document emphasizes the significance of each shareholder's vote and provides instructions for participating and casting votes during the meeting.

Form Type: DEFA14A

Filing Date: 2025-02-04

Type: New

Accession Number: 000119312525020134

Filing Summary: BlackRock Innovation and Growth Term Trust is holding a special meeting of shareholders to discuss proposals announced on January 21, 2025. Shareholders are advised to recall any Fund shares on loan to ensure they are considered record date shareholders. The record date is anticipated to be around February 19, 2025. A definitive Proxy Statement regarding these proposals will be filed with the SEC, and shareholders are encouraged to read this document for crucial information related to the proposals. The communication clarifies that it does not solicit proxies from shareholders. The Proxy Statement will provide details on the investment objectives, risks, charges, and expenses associated with the Fund. Investors can access the Proxy Statement for free once available.

Form Type: DEFA14A

Filing Date: 2025-01-21

Type: New

Accession Number: 000119312525009574

Filing Summary: On January 21, 2025, BlackRock Advisors, LLC announced that the Board of Trustees of BlackRock Innovation and Growth Term Trust (BIGZ) approved several changes to the Trust's investment policies referred to as Strategy Changes. Key modifications include adopting a non-fundamental investment policy to invest at least 80% of its total assets in equity securities of technology companies and privately held firms, altering its fundamental investment restriction on industry concentration, and changing its status from diversified to non-diversified. Shareholder approval will be sought for the fundamental restriction and diversification status changes, while the other policies will be effective on February 20, 2025. The Trust will also be renamed to BlackRock Technology and Private Equity Term Trust with a new ticker symbol BTX, and a new management team will lead the Trust effective the same date. Shareholder meetings to discuss the approval of certain changes are expected to occur in the second quarter of 2025.

Form Type: SC TO-C

Filing Date: 2025-01-21

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525009580

Filing Summary: On January 21, 2025, BlackRock Innovation and Growth Term Trust announced that its Board of Trustees has approved a tender offer to repurchase 50% of its outstanding shares. This action is part of a broader agreement involving BlackRock and Saba Capital Management, L.P., which will expire after the 2027 proxy season. Saba has agreed to certain terms, including withdrawing a prior shareholder proposal, while the Boards also approved the cancellation of a previously announced tender offer for the quarter ended December 31, 2024. This new tender offer is set to take place at a price equal to 99.5% of the Fund's net asset value per common share after the offer's expiration. The document emphasizes that the press release is for informational purposes only and details regarding the tender offer will be made available in official filings with the SEC.

Form Type: SCHEDULE 13D/A

Filing Date: 2025-01-21

Corporate Action: Tender-offer

Type: Update

Accession Number: 000106299325000933

Filing Summary: This amendment to Schedule 13D/A is filed by Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Mr. Boaz R. Weinstein, regarding their holdings in BlackRock Innovation & Growth Term Trust. On January 20, 2025, Saba Capital entered into a standstill agreement with the Issuer, under which the Issuer will conduct a cash tender offer to acquire 50% of its outstanding Common Shares at a price equal to 99.5% of its net asset value per share. Saba Capital has committed to tender the shares it holds and those owned by its managed funds as part of this agreement, which includes customary standstill provisions lasting until the Issuer's 2027 annual meeting or certain other conditions are met. The funds used for these acquisitions totaled approximately $444,856,136. The reporting persons have disclosed their beneficial ownership of 218,808,356 shares, reflecting the number of shares as of October 11, 2024.

Form Type: SC TO-C

Filing Date: 2025-01-03

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525000820

Filing Summary: On January 2, 2025, BlackRock Innovation and Growth Term Trust announced a tender offer as part of their ongoing efforts to manage discounts and enhance long-term shareholder value. The tender offers are based on a Quarterly Measurement Period that occurred between October 1, 2024, and December 31, 2024. The Fund's shares traded at an average daily discount to net asset value (NAV) of 10.53%, triggering the decision to repurchase a portion of its outstanding common shares. The tender offer will commence on January 22, 2025, and will expire on February 21, 2025, unless extended. The Fund intends to repurchase 2.5% of its outstanding shares at a price equal to 98% of NAV determined on the next day after the expiration of the tender offer. If more than 2.5% of shares are tendered, purchases will be made on a pro-rata basis. Payments to shareholders for accepted shares are expected to be completed within approximately five business days after the expiration date. The document also stresses that this announcement is for informational purposes only and not a recommendation for shareholders to participate in the tender offer. Shareholders are encouraged to read the tender offer materials for important details.

Form Type: SC 13D/A

Filing Date: 2024-12-16

Type: Update

Accession Number: 000106299324020703

Filing Summary: Amendment No. 23 to the Schedule 13D for BlackRock Innovation & Growth Term Trust provides updated ownership details and transaction history. Reporting persons, including Saba Capital Management, L.P., Boaz R. Weinstein, and Saba Capital Management GP, LLC, collectively own 59,196,237 shares, constituting 27.05% of the class based on 218,808,356 outstanding shares as of October 11, 2024. A total of $433,545,097 was paid to acquire the shares. The document also includes detailed trading activity from October 29, 2024, to December 13, 2024, outlining various purchases of shares at prices ranging from $7.47 to $8.07.

Form Type: PREC14A

Filing Date: 2024-04-09

Type: New

Accession Number: 000119312524090784

Filing Summary: BlackRock Innovation and Growth Term Trust ("BIGZ" or the "Trust") is convening an annual meeting for shareholders to vote on nominees for the Board of Trustees and a proposal from Saba Capital Management, which seeks to terminate the investment management agreement with BlackRock Advisors. The Trust has received nominations from Saba for seven individuals to join the Board, prompting the current Board to urge shareholders to vote against these nominees and against the associated proposal. The Board emphasizes that approving Saba's proposal would not be in the best interest of the Trust or its shareholders, citing potential negative impacts and conflicts of interest that could arise if Saba were to gain control. In opposition to Saba's activities, the Board has unanimously approved its own nominees for the upcoming election and recommends shareholders to vote for these nominees. The document calls for shareholders to be active in voting to ensure their interests are represented effectively against Saba's aggressive maneuvers.

Form Type: CORRESP

Filing Date: 2021-02-16

Type: New

Accession Number: 000119312521044307

Filing Summary: On February 16, 2021, BlackRock Innovation and Growth Trust submitted a correspondence letter addressing comments from the SEC regarding its registration statement filed on December 21, 2020. The document outlines the Trust's responses to SEC staff comments, including the review of underwriting terms by FINRA, confirmations about not issuing debt securities or preferred stock, disclosures related to investment strategies including options, and the structure of a potential tender offer to common shareholders. The Trust reaffirms its intention to ensure compliance with regulatory requirements, and details are provided regarding changes to disclosures about investing in illiquid securities, test-the-waters materials, and the implications of the Maryland Control Share Acquisition Act. The letter makes clear the intentions behind the tender offer structure and addresses staff comments on ensuring clarity and accuracy in the prospectus summary.

Form Type: N-2

Filing Date: 2020-12-21

Type: New

Accession Number: 000119312520321870

Filing Summary: BlackRock Innovation and Growth Trust is a newly organized, non-diversified closed-end management investment company with no previous operating history. The trust aims to provide total return and income through a combination of current income, current gains, and long-term capital appreciation by primarily investing in equity securities issued by small and mid-cap companies anticipated to have above-average earnings growth potential. A unique strategy will involve writing covered call options to generate current gains from premiums. The trust's common shares are expected to be listed on the New York Stock Exchange. The prospectus outlines the investment strategy, the role of the investment advisor, and the risks involved with investing in the trust, including the potential for trading at a discount to its net asset value. Furthermore, the agreement allows for a planned dissolution 12 years post registration, with provisions for a tender offer for shareholders to buy back shares. The effective date for this offering is tied to regulatory approval and market conditions. There is no assurance that the investment objectives of the trust will be realized.