BlackRock Science and Technology Trust (NYSE: BST) (the "Trust") today announced the successful completion of its transferable rights offer (“the Offer”). The Offer commenced on June 18th, 2021 and expired on July 14th, 2021.
The Offer entitled rights holders to subscribe for up to an aggregate of 8,417,857 of the Trust’s common shares of beneficial interest, par value of $0.001 per share (“Common Share”). The final subscription price of $52.51 per Common Share was determined based upon the formula equal to 94% of the Trust’s net asset value per share of Common Shares at the close of trading on the NYSE on the expiration date. The Common Shares subscribed for will be issued promptly after completion and receipt of all shareholder payments.
Proceeds of the Offer are expected to be approximately $359 million. The Trust will receive the entire proceeds of the Offer since BlackRock Advisors, LLC (the "Advisor"), the Trust’s investment adviser, has agreed to pay the dealer manager fee and all other expenses related to the Offer. The Trust intends to invest the proceeds of the Offer in accordance with its investment objectives and policies.
This document is not an offer to sell any securities and is not soliciting an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a prospectus. Investors should consider the Trust's investment objectives, risks, charges and expenses carefully before investing. The Trust's prospectus supplement and accompanying prospectus will contain this and additional information about the Trust and additional information about the Offer, and should be read carefully before investing.
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock
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With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in the Funds’ net asset value; (2) the relative and absolute investment performance of the Funds and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Funds or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of the Funds with the SEC are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.
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