The Fund announced the successful completion of its transferable rights offer (the “Offer”) which expired on October 21, 2026 (the “Expiration Date”). The Offer entitled rights holders to subscribe for up to an aggregate of 21,255,200 shares of the Fund’s common stock, par value of $0.001 per share (each, a “Common Share”). The final subscription price of $13.30 per Common Share was determined based upon the formula equal to 98.5% of the net asset value as of October 21, 2026.
The Offer is expected to result in the issuance of approximately 3.3 million Common Shares (including Common Shares subscribed pursuant to notices of guaranteed delivery), resulting in anticipated proceeds to the Fund of approximately $43 million. The Fund will receive the entire proceeds of the Offer since BlackRock Advisors, LLC, the Fund’s investment adviser, has agreed to pay all expenses related to the Offer. The Fund intends to invest the proceeds of the Offer in accordance with its investment objective and policies.
Shares issued pursuant to the Offer will not be entitled to receive any dividends or distributions with a record date prior to the Expiration Date.