Tender Offer - BlackRock Resources & Commodities Strategy Trust

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Form Type: SC TO-I/A

Filing Date: 2025-05-21

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525123419

Filing Summary: This document represents the Final Amendment to the Issuer Tender Offer Statement on Schedule TO filed by BlackRock Resources & Commodities Strategy Trust. The amendment updates the previously filed Schedule TO in connection with an offer to repurchase 2.5% of the Trust's issued and outstanding common shares. The tender offer was originally published on April 16, 2025, with an expiration date of May 19, 2025. The offer was oversubscribed, with 14,138,859 shares tendered, of which 1,954,822 shares were accepted for repurchase at a price of $9.7314 per share, calculated as 98% of the net asset value (NAV) per share. A press release dated May 20, 2025, detailing the results of the offer is included as an exhibit in this filing.

Additional details:

Offer Expiration Date: 2025-05-19

Shares Tendered: 14138859

Shares Accepted: 1954822

Repurchase Price: 9.7314

Form Type: SC TO-I/A

Filing Date: 2025-05-20

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525122648

Filing Summary: BlackRock Resources & Commodities Strategy Trust has filed an amendment to its Issuer Tender Offer Statement on Schedule TO. This amendment updates the previous filing made on April 16, 2025, regarding an offer to repurchase 2.5% of its issued and outstanding common shares at a price equal to 98% of the net asset value (NAV) per share, determined at the close of the regular trading session on the NYSE. The tender offer expired on May 19, 2025. This document includes a press release announcing the preliminary results of the offer, along with incorporated references to financial statements of the Fund dated December 31, 2024. No modifications were made to the previously reported information in the Schedule TO or the related Letter of Transmittal, except for the updates mentioned in this amendment.

Additional details:

Title Of Class Of Securities: Common Shares of Beneficial Interest

Cusip Number: 09257A108

Date Tender Offer First Published: 2025-04-16

Tender Offer Expiration Date: 2025-05-19

Tender Offer Percentage: 2.5%

Tender Offer Price Percentage: 98%

Form Type: SC TO-I

Filing Date: 2025-04-16

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525082872

Filing Summary: On April 16, 2025, BlackRock Resources & Commodities Strategy Trust initiated an issuer tender offer to repurchase 2.5% of its issued and outstanding common shares of beneficial interest. The purchase price is set at 98% of the net asset value (NAV) per share, calculated at the close of the NYSE trading session following the expiration of the offer. This document outlines the terms of the tender offer and fulfills reporting obligations under the Securities Exchange Act of 1934.

Additional details:

Title Of Class Of Securities: Common Shares of Beneficial Interest

Cik Number: 09257A108

Number Of Shares Issued: 78192912

Investment Advisor: BlackRock Advisors, LLC

Principal Market: NYSE

Form Type: SC TO-C

Filing Date: 2025-04-02

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525070676

Filing Summary: On April 1, 2025, BlackRock Resources & Commodities Strategy Trust (the 'Trust') filed a Tender Offer Statement under Section 14(d)(1) of the Securities Exchange Act of 1934. The Trust announced the results of the Quarterly Measurement Period under its discount management program and declared a tender offer. The tender offer is set to commence on April 16, 2025, and expire on May 19, 2025, for shareholders whose common shares trade at an average daily discount to net asset value (NAV) of greater than 7.50%. As per the announcement, the Trust intends to repurchase 2.5% of its outstanding common shares at a price equal to 98% of the Fund's NAV. This solicitation aims to enhance shareholder value and provide liquidity for common shareholders, particularly in light of discount management efforts. The details indicate that payments for shares tendered will be completed approximately five business days post-expiration of the tender offer. The Trust's average daily discount to NAV during the reporting period was noted as -8.92%. Additionally, the filing was marked to indicate it solely relates to preliminary communications made before the commencement of the tender offer.

Additional details:

Average Daily Discount: -8.92

Tender Offer Commencement Date: 2025-04-16

Tender Offer Expiration Date: 2025-05-19

Tender Offer Percentage: 2.5

Tender Offer Price Percentage: 98

Form Type: SC TO-I/A

Filing Date: 2025-02-26

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525035512

Filing Summary: This document is the Final Amendment No. 2 to the Issuer Tender Offer Statement on Schedule TO originally filed on January 23, 2025, by BlackRock Resources & Commodities Strategy Trust, regarding the tender offer to repurchase 2.5% of its issued and outstanding common shares at a price equal to 98% of the net asset value (NAV) per share. The offer expired on February 24, 2025, and was oversubscribed, with 17,748,385 shares validly tendered. A total of 2,004,946 shares were accepted for repurchase at a price of $9.7706 per share, determined as of February 25, 2025. This amendment updates the filing to include a press release announcing the final results of the offer and confirms the shares will be repurchased on a pro rata basis according to the number of shares tendered. It also incorporates information from the Offer to Purchase and the Letter of Transmittal previously filed as exhibits.

Additional details:

Tender Offer Expiration Date: 2025-02-24

Shares Validly Tendered: 17748385

Shares Accepted For Repurchase: 2004946

Repurchase Price Per Share: 9.7706

Form Type: SC TO-I/A

Filing Date: 2025-02-25

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525033872

Filing Summary: This document is an amendment to the initial tender offer statement filed by BlackRock Resources & Commodities Strategy Trust, announcing a tender offer to repurchase 2.5% of its issued and outstanding common shares. The offer price is set at 98% of the net asset value (NAV) per share, based on the NAV determined after the offer expiration on February 24, 2025. The amendment updates the schedule by incorporating preliminary results from the tender offer, which includes a press release attached as an exhibit. The initial tender offer statement was filed on January 23, 2025, and remains unchanged except for the updates provided in this amendment. The filing includes reference to financial statements of the Fund dated December 31, 2023, and June 30, 2024, which are incorporated by reference.

Additional details:

Issuer Tender Offer: true

Tender Offer Percentage: 2.5

Tender Offer Price: 98% of NAV

Tender Offer Expiration Date: 2025-02-24

Form Type: SC TO-I

Filing Date: 2025-01-23

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525011485

Filing Summary: BlackRock Resources & Commodities Strategy Trust is initiating an issuer tender offer to repurchase 2.5% of its outstanding common shares of beneficial interest, par value $0.001 per share. The repurchase commitment will be executed in exchange for cash at a price equal to 98% of the net asset value (NAV) per share, determined the day after the offer expires. This tender offer statement is filed under the Securities Exchange Act of 1934 to comply with regulatory requirements. The offer materials inclusive of the Offer to Purchase and related documents have been filed as exhibits to this Schedule TO. The Fund’s executive offices are located in Wilmington, Delaware, and as of January 15, 2025, there were 80,197,858 shares outstanding. The principal market for trading the shares is the NYSE. The offer period and pricing details will follow the trading dynamics on the NYSE.

Additional details:

Issuer Name: BlackRock Resources & Commodities Strategy Trust

Common Shares Percentage: 2.5%

Par Value: $0.001

Cik Number: 0000891053

Cusip Number: 09257A108

Nav Percentage: 98%

Form Type: SC TO-C

Filing Date: 2025-01-03

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525000809

Filing Summary: On January 2, 2025, BlackRock Resources & Commodities Strategy Trust announced a tender offer following a Quarterly Measurement Period, which concluded on December 31, 2024, under its discount management program. The tender offer is part of the trust's efforts to manage share discounts and enhance shareholder value. A Trigger Event (average daily discount over 7.50%) was identified, prompting this tender offer. The fund will repurchase 2.5% of its outstanding shares at a price equal to 98% of its net asset value (NAV) per share. The release also includes specific commencement and expiration dates for the tender offers of various BlackRock closed-end funds, including the Resources & Commodities Strategy Trust, which is scheduled to start on January 23, 2025, and end on February 24, 2025. The market performance data for the funds shows varying average daily discounts, with BCX having a 10.00% discount, highlighting the need for this action.

Additional details:

Trigger Event Date: 2024-12-31

Average Daily Discount: -10.00%

Tender Offer Commencement Date: 2025-01-23

Tender Offer Expiration Date: 2025-02-24

Tender Offer Percentage: 2.5%

Tender Offer Price Percentage: 98%

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