Tender Offers for BlackRock Innovation & Growth Term Trust

Form Type: SC TO-C

Filing Date: 2025-01-03

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525000820

Comments: On January 2, 2025, BlackRock Innovation and Growth Term Trust announced a tender offer as part of their ongoing efforts to manage discounts and enhance long-term shareholder value. The tender offers are based on a Quarterly Measurement Period that occurred between October 1, 2024, and December 31, 2024. The Fund's shares traded at an average daily discount to net asset value (NAV) of 10.53%, triggering the decision to repurchase a portion of its outstanding common shares. The tender offer will commence on January 22, 2025, and will expire on February 21, 2025, unless extended. The Fund intends to repurchase 2.5% of its outstanding shares at a price equal to 98% of NAV determined on the next day after the expiration of the tender offer. If more than 2.5% of shares are tendered, purchases will be made on a pro-rata basis. Payments to shareholders for accepted shares are expected to be completed within approximately five business days after the expiration date. The document also stresses that this announcement is for informational purposes only and not a recommendation for shareholders to participate in the tender offer. Shareholders are encouraged to read the tender offer materials for important details.

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