Tender Offer - BlackRock Alpha Strategies Fund
Form Type: SC TO-I/A
Filing Date: 2025-05-06
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525113867
Filing Summary: This document is an amendment (Amendment No. 1) to the Issuer Tender Offer Statement (Schedule TO) originally filed by BlackRock Alpha Strategies Fund on September 27, 2024. The tender offer aimed to purchase up to 25% of the issued and outstanding common shares of beneficial interest, including Class A and Class I Shares, as of September 3, 2024. The tender offer expired on October 28, 2024, and was undersubscribed, resulting in the purchase of 52,681.676 Class A Shares and 30,673.958 Class I Shares. All validly tendered shares were accepted for repurchase. The net asset value (NAV) per Class A Share and Class I Share on the Valuation Date (December 31, 2024) were $10.22 and $10.31 respectively. Payment to shareholders was executed via promissory notes, with a total of $780,579.91 paid on February 4, 2025, and the remainder of $74,075.33 paid on April 30, 2025. This amendment serves to report the results of the tender offer, and aside from the updates herein, the previous information remains unchanged.
Additional details:
Tender Offer Expiration Date: 2024-10-28
Tendered Shares Class A: 52681.676
Tendered Shares Class I: 30673.958
Nav Class A: 10.22
Nav Class I: 10.31
Payment Amount: 780579.91
Remaining Payment: 74075.33
Final Payment Date: 2025-04-30
Form Type: SC TO-I
Filing Date: 2025-03-24
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525061415
Filing Summary: BlackRock Alpha Strategies Fund is making a tender offer to purchase up to 25% of its issued and outstanding Class A and Class I common shares of beneficial interest. The shares will be purchased for cash at a price equal to the net asset value (NAV) per share as determined on June 30, 2025, or potentially at an extended date if applicable. The Offer is subject to the terms and conditions specified in the related documents filed with the SEC. The tender offer is initiated to provide liquidity to shareholders and reflects the fund's strategy to manage its capital effectively. As of February 3, 2025, there are approximately 8.8 million Class A Shares and approximately 3.8 million Class I Shares outstanding. The tender offer represents an issuer tender offer rather than a third-party offer or going-private transaction.
Additional details:
Subject Company Name: BlackRock Alpha Strategies Fund
Subject Company Type: non-diversified closed-end management investment company
Common Shares Outstanding Class A: 8785318
Common Shares Outstanding Class I: 3830509
Tender Offer Percentage: 25
Tender Offer Price Method: net asset value
Tender Offer Expiration Date: 2025-06-30
Form Type: SC TO-I/A
Filing Date: 2025-01-31
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525018460
Filing Summary: This document is an amendment to the Schedule TO originally filed on June 27, 2024, by BlackRock Alpha Strategies Fund in connection with an issuer tender offer to purchase up to 25% of its outstanding Class A and Class I common shares of beneficial interest. The offer presented an opportunity for shareholders to tender shares by July 29, 2024, and was ultimately undersubscribed, leading to the repurchase of all validly tendered shares, including 53,741.975 Class A Shares and 4,538.927 Class I Shares. The NAV per Class A Share was $10.63 and for Class I Share was $10.76 on the Valuation Date of September 30, 2024. Payment for the repurchase was conducted via promissory notes, with a total of $573,269.36 paid on November 4, 2024, and the remaining owed $46,846.67 paid on January 28, 2025. This amendment serves to report the results of the tender offer and does not alter previously reported information.
Additional details:
Date Tender Offer First Published: 2024-06-27
Offer Expiration Date: 2024-07-29
Class A Shares Tendered: 53741.975
Class I Shares Tendered: 4538.927
Nav Class A Share: 10.63
Nav Class I Share: 10.76
Payment Promissory Note First Payment Date: 2024-11-04
Total Payment First: 573269.36
Payment Promissory Note Second Payment Date: 2025-01-28
Total Payment Second: 46846.67
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