Tender Offers for BlackRock Energy & Resources Trust

Form Type: SC TO-C

Filing Date: 2025-01-03

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525000807

Comments: On January 2, 2025, BlackRock Energy and Resources Trust announced a tender offer in conjunction with the results of their discount management programs. The offer is part of a broader strategy from BlackRock, which aims to manage discounts on shares and enhance long-term shareholder value. The tender offer is triggered when the Fund's common shares trade at an average daily discount to net asset value (NAV) exceeding 7.50% over a measurement period. The announcement details a quarterly measurement period that ran from October 1, 2024, to December 31, 2024, with a specific focus on Funds meeting the trigger criteria. The tender offers for several BlackRock Funds, including the Energy and Resources Trust, have commencement dates starting January 21, 2025, through January 23, 2025, and expiration dates stretching into late February 2025. The purchase price for tendered shares will be 98% of the NAV per share as determined after the expiration date, with the expectation of payment within five business days following the tender offer's expiration. Shareholders are encouraged to read the tender offer materials for comprehensive details before making decisions regarding their shares.

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