How To Play The BlackRock Tender Offers: Start With Buying BOE [Seeking Alpha]
Blackrock Capital and Income Fund, Inc. (CII)
US:NYSE Investor Relations:
blackrock.com/investing/products/240242/blackrock-enhanced-capital-and-income-fund-inc-usd-fund
Company Research
Source: Seeking Alpha
1 Comment 4 Likes Douglas Albo Investing Group Leader Follow Summary The first period of Tender Offers for the BlackRock equity CEFs is now complete. Here's what we've learned and here is the best opportunity among the funds if you want to take advantage of the next three three-month measurement periods. The Tender Offers were the result of activist investors who put pressure on BlackRock to take steps to help reduce the discounts of their funds. Essentially, if the average discount for a fund over each three-month period is greater than -7.5%, BlackRock will buy back 2.5% of the fund's outstanding shares and convert to tender offer shares. Shareholders who put in for the offering would then receive 98% of the fund's higher NAV. But there's an added twist to this that can make the 2.5% of your tendered shares a significantly higher-percent. hapabapa For those who participated in the Tender Offer program from BlackRock, they may have been surprised by how many
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News
- Certain BlackRock Funds Announce Expiration and Preliminary Results of Tender Offers [Yahoo! Finance]Yahoo! Finance
- BlackRock Enhanced Capital and Income Fund Inc declares $0.0995 dividend [Seeking Alpha]Seeking Alpha
- CII: Discount Stays Attractive With Market Volatility [Seeking Alpha]Seeking Alpha
CII
Sec Filings
- 11/19/24 - Form SC
- 11/18/24 - Form SC
- 11/15/24 - Form 3
- CII's page on the SEC website