- BlackRock Health Sciences Term Trust's (BMEZ, Financial) tender offer was undersubscribed with 38.75 million shares tendered.
- Tender offer purchase price set at $14.21 per share, representing 99.5% of the fund's NAV.
- Approximately $550.8 million will be returned to shareholders.
BlackRock Health Sciences Term Trust (BMEZ) has announced the final results of its tender offer, which expired on April 17, 2025. Despite offering to repurchase up to 40% of its outstanding common shares, equivalent to 40,502,046 shares, the tender offer was undersubscribed with 38,753,713 shares tendered.
The fund will purchase all properly tendered shares at a price of $14.2086 per share, representing 99.5% of the fund's net asset value (NAV) as of April 21, 2025. Payments to shareholders are expected to be made within approximately five business days, around April 25, 2025.
This transaction will result in a return of approximately $550.8 million to participating shareholders, based on the 38,753,713 shares tendered at the purchase price. For a fund with a market capitalization of $1.44 billion, this substantial return affects nearly 38% of the fund's capital structure.
