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BlackRock's BTX Fund Commences Tender Offer for Up to 50% of Outstanding Shares.
ByAinvest
Monday, Jun 9, 2025 4:34 pm ET1min read
BlackRock Technology and Private Equity Term Trust (BTX) has commenced a tender offer to repurchase up to 50% of its outstanding common shares at a price equal to 99.5% of the fund's net asset value per share. The commencement date is June 9, 2025, and the expiration date is July 8, 2025. Payments for shares tendered and accepted are expected to be made approximately five business days after the expiration date.
BlackRock Technology and Private Equity Term Trust (BTX) has initiated a tender offer to repurchase up to 50% of its outstanding common shares. The offer, which commenced on June 9, 2025, is set to expire on July 8, 2025. The shares will be repurchased at a price equal to 99.5% of the fund's net asset value (NAV) per share as determined on the pricing date, which is scheduled for July 9, 2025 [3].The tender offer allows shareholders to tender their shares for repurchase. Payments for shares tendered and accepted are expected to be made approximately five business days after the expiration date. Shareholders participating in the tender offer will not be entitled to receive the July 2025 monthly distribution on tendered shares [3].
The terms and conditions of the tender offer are detailed in an Offer to Purchase, a related Letter of Transmittal, and other documents, which will be distributed to the Fund’s common shareholders and filed with the Securities and Exchange Commission (SEC). Investors are urged to review these materials carefully before making any decisions regarding the tender offer [3].
This tender offer is part of BlackRock's ongoing efforts to manage its shareholder base and optimize its capital structure. By repurchasing shares, the Fund aims to enhance its financial flexibility and potentially improve shareholder value.
References:
[1] https://www.tradingview.com/news/reuters.com,2025-06-09:newsml_RSI0386Ma:0-reg-aberdeen-asian-inc-net-asset-value-s/
[2] https://www.tradingview.com/news/reuters.com,2025-06-09:newsml_RSI0384Ma:0-reg-abrdn-new-india-it-net-asset-value-s/
[3] https://www.businesswire.com/news/home/20250609598524/en/BlackRock-Technology-and-Private-Equity-Term-Trust-BTX-Commences-Tender-Offer-for-up-to-50-of-outstanding-common-shares
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