Tender Offer - BlackRock Science & Technology Term Trust

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Form Type: SC TO-I/A

Filing Date: 2025-05-22

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525124270

Filing Summary: This document is the Final Amendment No. 2 to the Issuer Tender Offer Statement on Schedule TO filed by BlackRock Science and Technology Term Trust, which provides updates regarding the issuer tender offer to repurchase 2.5% of its common shares of beneficial interest. The tender offer was initially published on April 17, 2025, and expired on May 20, 2025. The offer was oversubscribed, with 12,715,932 shares validly tendered, and 1,762,670 shares accepted for repurchase. The repurchase price is set at $20.0018 per share, which is 98% of the net asset value per share as of May 21, 2025. This amendment includes the results of the offer and a press release announcing these results, along with financial statements and exhibits related to the offer. The continuation of the document reiterates that other information in the Schedule TO remains unchanged, and references are made to related documents previously filed.

Additional details:

Date Tender Offer First Published: 2025-04-17

Offer Expiration: 2025-05-20

Total Shares Validly Tendered: 12715932

Total Shares Accepted: 1762670

Repurchase Price: 20.0018

Nav Date: 2025-05-21

Form Type: SC TO-I/A

Filing Date: 2025-05-21

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525123406

Filing Summary: BlackRock Science and Technology Term Trust filed an amendment to its tender offer statement on Schedule TO, dated April 17, 2025. This amendment updates Item 12 of the Schedule TO to include a press release announcing the preliminary results of the issuer tender offer that expired on May 20, 2025, at 5:00 p.m. Eastern time. The offer involved a repurchase of 2.5% of the Fund's issued and outstanding common shares, with the repurchase price set at 98% of the net asset value per share as determined after the offer expired. The document incorporates financial statements and exhibits associated with the offer.

Additional details:

Title Of Class Of Securities: Common Shares of Beneficial Interest

Cusip Number: 09260K101

Date Tender Offer First Published: 2025-04-17

Percentage Of Shares Repurchase: 2.5

Repurchase Price Percent Of NAV: 98

Expiration Date Of Offer: 2025-05-20

Press Release Date: 2025-05-20

Form Type: SC TO-I

Filing Date: 2025-04-17

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525084387

Filing Summary: BlackRock Science and Technology Term Trust has initiated a tender offer to repurchase 2.5% of its issued and outstanding common shares of beneficial interest. The repurchase will be at a price equal to 98% of the net asset value (NAV) per share determined after the offering period. The offer was first published on April 17, 2025, with shares traded primarily on the New York Stock Exchange. As of April 10, 2025, a total of 70,506,820 shares were issued and outstanding. The filing is in accordance with the reporting requirements of Rule 13e-4 under the Securities Exchange Act of 1934, and the necessary information from the Offer to Purchase has been incorporated herein by reference.

Additional details:

Issuer Name: BlackRock Science and Technology Term Trust

Security Title: Common Shares of Beneficial Interest

Cusip Number: 09260K101

Repurchase Percentage: 2.5

Purchase Price Percent Of Nav: 98

Nav Calculation Date: Pricing Date after the offer expiry

Form Type: SC TO-C

Filing Date: 2025-04-02

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525070674

Filing Summary: On April 1, 2025, BlackRock Science and Technology Term Trust filed a Tender Offer Statement under Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934. The document announces the results of the Quarterly Measurement Period for their existing discount management programs. The trust aims to repurchase up to 2.5% of its outstanding common shares at a price equivalent to 98% of the net asset value (NAV) per share. This decision follows a Trigger Event where the shares traded at an average daily discount to NAV exceeding 7.50% during the Measurement Period. The tender offer is set to commence on April 17, 2025, with an expiration date on May 20, 2025, unless extended. Shareholders are advised that there may be no assurance of share repurchase if more than 2.5% of outstanding shares are tendered, and they are encouraged to read the accompanying Offer to Purchase materials. The intention is to enhance shareholder value and provide liquidity to the market.

Additional details:

Common Share Price: 98% of NAV

Tender Offer Commencement Date: 2025-04-17

Tender Offer Expiration Date: 2025-05-20

Trigger Event Average Daily Discount: -8.50%

Tender Offer Percentage: 2.5%

Form Type: SC TO-I/A

Filing Date: 2025-02-26

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525035509

Filing Summary: This document serves as Amendment No. 2 to the Issuer Tender Offer Statement on Schedule TO originally filed on January 23, 2025, by BlackRock Science and Technology Term Trust. The tender offer initiated by the Fund aimed to repurchase 2.5% of its issued and outstanding common shares at a price determined to be 98% of the net asset value (NAV) per share. The offer expired at 5:00 p.m. Eastern time on February 24, 2025, and was oversubscribed, resulting in 16,170,310 shares being validly tendered. The Fund accepted for repurchase 1,807,867 shares, which will be purchased at a price of $21.6776 per share. This final amendment reports the results of the tender offer and includes an attached press release announcing these final results.

Additional details:

Tender Offer Expiration Date: 2025-02-24

Tendered Shares: 16170310

Accepted Shares: 1807867

Offer Price Per Share: 21.6776

Form Type: SC TO-I/A

Filing Date: 2025-02-25

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525034130

Filing Summary: BlackRock Science and Technology Term Trust filed Amendment No. 1 to its Issuer Tender Offer Statement on Schedule TO, which originally appeared on January 23, 2025. The amendment details the Fund's offer to repurchase 2.5% of its common shares of beneficial interest at 98% of the net asset value (NAV) calculated post-expiry of the Offer, which concluded on February 24, 2025. The filing includes a press release dated February 24, 2025, announcing the preliminary results of the Offer. Besides the update on the press release, the Amendment does not alter any previously reported information in the Schedule TO or related documents.

Additional details:

Date Tender Offer First Published: 2025-01-23

Tender Offer Percentage: 2.5%

Tender Offer Price: 98% of NAV

Tender Offer Expiration Date: 2025-02-24

Press Release Date: 2025-02-24

Form Type: SC TO-I

Filing Date: 2025-01-23

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525011489

Filing Summary: On January 23, 2025, BlackRock Science and Technology Term Trust announced an issuer tender offer to repurchase 2.5% of its issued and outstanding common shares of beneficial interest, par value $0.001 per share, for cash at a price equal to 98% of the net asset value (NAV) per share determined the day after the offer expires. The tender offer is meant to provide liquidity to shareholders and is conducted under Rule 13e-4 of the Securities Exchange Act. The document includes details on how shares can be tendered, the payment process, and specific conditions related to the offer. Additionally, the Fund disclosed a recent standstill agreement with Saba Capital Management, agreeing to specific covenants during the effective period until August 31, 2027, or the next annual meeting of shareholders. The Fund's principal trading market is the New York Stock Exchange, and it aims to enhance shareholder value through this tender offer.

Additional details:

Name Of Subject Company: BlackRock Science and Technology Term Trust

Cik Number: 09260K101

Common Shares Repurchase Percentage: 2.5%

Purchase Price Percentage: 98% of NAV

Number Of Shares Outstanding: 72,314,687

Principal Market: NYSE

Standstill Agreement Date: 2025-01-20

Form Type: SC TO-C

Filing Date: 2025-01-03

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525000806

Filing Summary: On January 2, 2025, BlackRock Science and Technology Term Trust announced a tender offer for its common shares in conjunction with the results of the Quarterly Measurement Period under its discount management programs. The Funds will repurchase 2.5% of their outstanding shares at 98% of their net asset value (NAV) following a Trigger Event, where shares traded at an average daily discount of greater than 7.50%. The Quarterly Measurement Period ran from October 1, 2024, to December 31, 2024, resulting in a reported average daily discount of -9.61% for BlackRock Science and Technology Term Trust. The tender offer will commence on January 23, 2025, and end on February 24, 2025, unless extended. Shareholders are advised to review the tender offer materials as they contain critical information regarding the process and conditions of the offer.

Additional details:

Trigger Event: true

Tender Offer Commencement Date: 2025-01-23

Tender Offer Expiration Date: 2025-02-24

Repurchase Percentage: 2.5

Tender Offer Price: 98% of NAV

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