Tender Offers for BLACKROCK ENHANCED CAPITAL & INCOME FUND, INC.

Form Type: SC TO-C

Filing Date: 2025-01-03

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525000811

Comments: 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.

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