- BlackRock Technology and Private Equity Term Trust (BTX, Financial) initiates a tender offer for 50% of its outstanding common shares.
- The offer is priced at 99.5% of the Fund's net asset value (NAV) per share.
- Shareholders tendering shares will not receive the July 2025 monthly distribution on those shares.
BlackRock Technology and Private Equity Term Trust (BTX), has announced the commencement of its previously disclosed tender offer, aiming to repurchase up to 50% of its outstanding common shares. The offer is set at a price equivalent to 99.5% of the fund's net asset value (NAV) per share, based on the NAV calculated on the day immediately following the tender offer's expiration date.
The tender offer began on June 9, 2025, and is set to expire at 11:59 p.m. Eastern Time on July 8, 2025, unless extended. The pricing date for determining the NAV is July 9, 2025. In the event that more than 50% of the outstanding shares are tendered, the fund will proceed to purchase shares on a pro rata basis. Payments for the shares that are tendered and accepted are anticipated to be processed approximately five business days post the tender offer's expiration.
Shareholders participating in this offer should note that they will not be eligible for the July 2025 monthly distribution on any tendered shares. The comprehensive terms and conditions are detailed in the Offer to Purchase and accompanying documents, which have been disseminated to shareholders and filed with the U.S. Securities and Exchange Commission (SEC).
