BlackRock MuniVest Fund Announces Tender Offer Following Quarterly Measurement Period Discount Result

BlackRock MuniVest Fund, Inc. (MVF) has announced a tender offer following the occurrence of a Trigger Event during the Quarterly Measurement Period under its discount management program. The Fund will repurchase 2.5% of its outstanding common shares at 98% of NAV per share. The tender offer will commence on July 15, 2025, and expire on August 15, 2025.

BlackRock MuniVest Fund, Inc. (MVF) has announced a tender offer following the occurrence of a Trigger Event during the Quarterly Measurement Period under its discount management program. The Fund will repurchase 2.5% of its outstanding common shares at 98% of the net asset value (NAV) per share. The tender offer will commence on July 15, 2025, and expire on August 15, 2025 [1].

The Fund's Measurement Period, which ran from April 1, 2025, to June 30, 2025, saw an average daily discount to NAV of -7.60%, triggering the repurchase program. The Board of Directors determined that if a Trigger Event occurred during the Measurement Period, the Fund would offer to repurchase a portion of its outstanding common shares. This action aims to manage the Fund's discount, enhance long-term shareholder value, and provide liquidity to the market for its common shareholders [1].

The tender offer will be conducted at a price equal to 98% of the Fund's NAV per share, as determined at the close of the regular trading session of the New York Stock Exchange (NYSE) on the next day the NAV is calculated after the expiration date of the tender offer. If more than 2.5% of the Fund's outstanding common shares are tendered, the Fund will purchase its shares from tendering shareholders on a pro-rata basis [1].

The terms and conditions of the Fund's tender offer will be set forth in an Offer to Purchase, a related Letter of Transmittal, and related documents, which will be distributed to the Fund's common shareholders. As soon as its tender offer commences, the Fund will file a Tender Offer Statement on Schedule TO with the U.S. Securities and Exchange Commission (SEC). Common shareholders are urged to read the tender offer materials carefully before making any decisions regarding tendering their shares [1].

Investors and financial professionals should stay informed about the Fund's performance and any updates through BlackRock's website in the "Closed-end Funds" section, where monthly updates and other material information are available [1].

References:
[1] https://www.businesswire.com/news/home/20250701455496/en/BlackRock-MuniVest-Fund-Inc.-MVF-Announces-Tender-Offer-in-Conjunction-with-Results-of-the-Quarterly-Measurement-Period-of-its-Discount-Management-Program