Tender Offer - BlackRock Health Sciences Trust
Form Type: SC TO-I/A
Filing Date: 2025-02-25
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525034460
Filing Summary: On January 22, 2025, BlackRock Health Sciences Trust filed an Issuer Tender Offer Statement to repurchase 2.5% of its issued and outstanding common shares for cash. The tender offer was set at a price equal to 98% of the net asset value per share as of the close of trading on the next business day after the offer expired. The offer expired on February 21, 2025, and was oversubscribed, resulting in a pro rata repurchase of shares. Out of 1,188,063 shares tendered, 331,387 were accepted for repurchase at a price of $42.1792 per share. This document serves as the Final Amendment to report the results of the tender offer and includes a press release regarding these results dated February 24, 2025.
Additional details:
Tender Offer Expiration Date: 2025-02-21
Total Shares Tendered: 1188063
Total Shares Accepted: 331387
Tender Offer Price: 42.1792
Nav Date: 2025-02-24
Form Type: SC TO-I/A
Filing Date: 2025-02-24
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525032204
Filing Summary: BlackRock Health Sciences Trust filed an amendment to their Schedule TO, which initially disclosed a tender offer for repurchasing 2.5% of its outstanding common shares. The tender offer, effective from January 22, 2025, aimed to buy shares at 98% of the net asset value determined after market close following the expiration of the offer, which was February 21, 2025. This amendment updates Item 12 to include a press release showcasing the preliminary results of the tender offer and confirms that other information from the initial Schedule TO and related documents remains unchanged.
Additional details:
Date Tender Offer First Published: 2025-01-22
Tender Offer Expiration Date: 2025-02-21
Tender Offer Percentage: 2.5
Tender Offer Price: 98% of NAV
Form Type: SC TO-I
Filing Date: 2025-01-22
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525010445
Filing Summary: BlackRock Health Sciences Trust has filed an Issuer Tender Offer Statement on Schedule TO to repurchase 2.5% of its issued and outstanding common shares of beneficial interest, valued at $0.001 per share. The offer is in exchange for cash at a price equal to 98% of the net asset value (NAV) per Share, determined on the Pricing Date following the expiration of the offer. The tender offer is being conducted under Rule 13e-4 of the Securities Exchange Act of 1934 and is part of the Fund's ongoing initiatives to manage its capital structure and optimize shareholder value. The Fund had 13,255,490 shares outstanding as of January 14, 2025, and the principal market for these shares is the NYSE. The document also details the terms, conditions, and various agreements related to this tender offer, including the Saba Standstill Agreement effective from January 20, 2025, which imposes certain covenants on participants. This filing includes previous documents: the Offer to Purchase, its Supplement No. 1, and a Letter of Transmittal all dated January 22, 2025.
Additional details:
Tender Offer Price: 98% of the net asset value
Number Of Shares Offered: 2.5% of issued and outstanding shares
Cusip Number: 09250W107
Contact Phone Number: (800) 882-0052
Primary Market: NYSE
Total Shares Outstanding: 13,255,490
Standstill Agreement Effective Date: 2025-01-20
Standstill Agreement Parties: Saba Capital Management, L.P.
Duration Of Standstill Agreement: until the day following the completion of the Fund’s 2027 annual meeting of shareholders or August 31, 2027, whichever is earlier.
Form Type: SC TO-C
Filing Date: 2025-01-03
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525000819
Filing Summary: On January 2, 2025, BlackRock Health Sciences Trust filed a Tender Offer Statement under the Securities Exchange Act of 1934. The filing indicates the launch of a tender offer for common shares of the Trust as part of a broader initiative involving multiple BlackRock closed-end funds to manage share discounts and enhance shareholder value. The offer will commence on January 21, 2025, and will conclude by February 20, 2025. The Funds will repurchase up to 2.5% of their outstanding shares at 98% of the NAV, contingent on a Trigger Event where shares traded at an average discount to NAV greater than 7.5%. The details of the offers and the specific funds involved are summarized, highlighting anticipated commencement and expiration dates for the tender offers.
Additional details:
Title Of Class Of Securities: Common Shares of Beneficial Interest
Cusip Number: 09250W107
Trigger Event: average daily discount greater than 7.50% during the Quarterly Measurement Period
Repurchase Percentage: 2.5% of outstanding common shares
Tender Offer Price: 98% of the Fund's NAV per share
Tender Offer Commencement Date: 2025-01-21
Tender Offer Expiration Date: 2025-02-20
Comments
No comments yet. Be the first to comment!