Tender Offer - BLACKROCK ENHANCED CAPITAL & INCOME FUND, INC.
Form Type: SC TO-I/A
Filing Date: 2025-02-25
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525034461
Filing Summary: This document is the Final Amendment No. 2 to the Issuer Tender Offer Statement filed by BlackRock Enhanced Large Cap Core Fund, Inc. The tender offer, which was first published on January 22, 2025, allowed the Fund to repurchase 2.5% of its issued and outstanding shares of common stock at a price of 98% of the net asset value (NAV) as determined after the offer expires. The offer expired on February 21, 2025, and was oversubscribed, with 4,275,883 shares tendered and 1,049,179 shares accepted for repurchase at a price of $21.1974 per share. This amendment reports the results of the offer and includes a press release announcing the final results.
Additional details:
Tender Offer Expiration Date: 2025-02-21
Tendered Shares: 4275883
Accepted Shares: 1049179
Repurchase Price: 21.1974
Net Asset Value Date: 2025-02-24
Press Release Date: 2025-02-24
Form Type: SC TO-I/A
Filing Date: 2025-02-24
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525032208
Filing Summary: This Amendment No. 1 updates the Issuer Tender Offer Statement on Schedule TO, originally filed on January 22, 2025, by BlackRock Enhanced Large Cap Core Fund, Inc. The tender offer involves the repurchase of 2.5% of its issued and outstanding shares of common stock for cash at a price equal to 98% of the net asset value (NAV) per share, calculated after the offer expires. The offer was set to expire on February 21, 2025, at 5:00 p.m. Eastern time, and this document includes a press release announcing the preliminary results of the offer. Other parts of the original information remain unchanged and are incorporated by reference. Financial statements and additional reporting items have been included as necessary.
Additional details:
Title Of Class: Shares of Common Stock
Cusip Number: 09256A109
Offer Expiration Date: 2025-02-21
Repurchase Percentage: 2.5
Purchase Price Percentage: 98%
Nav Calculation Date: next day after offer expiration
Press Release Date: 2025-02-21
Form Type: SC TO-I
Filing Date: 2025-01-22
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525010439
Filing Summary: BlackRock Enhanced Large Cap Core Fund, Inc. is conducting an issuer tender offer to repurchase 2.5% of its issued and outstanding shares of common stock at a price equal to 98% of the net asset value (NAV) per Share, to be determined on the Pricing Date, which is the day after the offer expires. The filing serves to comply with the reporting requirements of SEC Rule 13e-4(c)(2). The Offer to Purchase dated January 22, 2025, outlines all material terms and conditions of this transaction. As of January 14, 2025, the Fund had 41,967,166 Shares outstanding. In addition, a standstill agreement was reached with Saba Capital Management on January 20, 2025, which imposes certain restrictions on Saba during the effective period.
Additional details:
Issuer Name: BlackRock Enhanced Large Cap Core Fund, Inc.
Par Value: $0.10
Number Of Shares Outstanding: 41,967,166
Tender Offer Percentage: 2.5
Purchase Price Percentage: 98%
Form Type: SC TO-C
Filing Date: 2025-01-03
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525000811
Filing Summary: On January 2, 2025, BlackRock Enhanced Large Cap Core Fund, Inc. filed a Tender Offer Statement with the SEC regarding its intention to repurchase shares as part of a discount management program. This program aims to enhance long-term shareholder value by conducting tender offers when shares trade at a daily discount of more than 7.50% relative to their net asset value (NAV). The Quarterly Measurement Period for this program concluded on December 31, 2024. The filing indicates that the Fund's average daily discount was 8.12%. The Board has authorized a tender offer for 2.5% of the outstanding common shares at a price equal to 98% of the NAV per share. The anticipated tender offer commencement dates for the respective funds and expiration dates are outlined, emphasizing that if more than 2.5% of shares are tendered, they will be purchased on a pro rata basis. Payments for accepted shares are expected within five business days post-expiration. The announcement highlights that shareholders should review the forthcoming Offer to Purchase when filed, as it will provide crucial information regarding the tender offer.
Additional details:
Title Of Class Of Securities: Common Shares of Beneficial Interest
Cusip Number: 09256A109
Average Daily Discount For Measurement Period: -8.12%
Tender Offer Commencement Date: 2025-01-21
Tender Offer Expiration Date: 2025-02-20T17:00:00Z
Repurchase Percentage: 2.5
Tender Offer Price Percentage: 98%
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