BlackRock Capital Allocation Term Trust Files Proxy Statement

TL;DR

BCAT proxy filing is in, shareholders get a say. No fee.

AI Summary

BlackRock Capital Allocation Term Trust (BCAT) is filing a Definitive Proxy Statement (DEFA14A) on June 3, 2024. This filing concerns the solicitation of proxies from shareholders for a meeting. The company is incorporated in Maryland and its fiscal year ends on December 31st. The filing does not appear to involve a fee, as indicated by the 'No fee required' checkbox.

Why It Matters

This filing is important for shareholders as it outlines the matters to be voted on at the company's shareholder meeting, influencing corporate governance and strategic decisions.

Risk Assessment

Risk Level: low — This is a routine proxy filing (DEFA14A) which typically concerns procedural matters and shareholder voting, not immediate financial risk.

Key Players & Entities

• BlackRock Capital Allocation Term Trust (company) — Registrant
• DEFA14A (document) — Filing Type
• 0001193125-24-152116 (accession_number) — Filing Identifier
• 100 BELLEVUE PARKWAY, WILMINGTON, DE 19809 (address) — Business and Mail Address

FAQ

Key Financial Figures

• $13.3m — price return3 Outperformance: 14.6%3, 4 $13.3m NAV accretion from share repurchase pro

Filing Documents

• d800585ddefa14a.htm (DEFA14A) — 13KB
• g800585g01g01.jpg (GRAPHIC) — 384KB
• g800585g02g02.jpg (GRAPHIC) — 301KB
• 0001193125-24-152116.txt ( ) — 957KB

From the Filing

CAPITAL ALLOCATION TERM TRUST BLACKROCK CAPITAL ALLOCATION TERM TRUST UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Definitive Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 BLACKROCK CAPITAL ALLOCATION TERM TRUST (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. YOUR Vote Matters BlackRock Capital Allocation Term Trust (NYSE: BCAT) Vote today. YOUR Board is focused on protecting YOUR investment and advancing YOUR interests. Saba is only focused on Saba. Your investmentand the consistent distributions your Fund deliversare at risk. A dissident activist shareholder, Saba Capital Management L.P. (Saba), is attempting to fire BlackRock as fund manager and install hand-picked board nominees loyal to Sabas own interests. In doing so, Saba seeks to maximize its own returns, to the detriment of yours. BlackRock puts YOU first, and the decisive actions taken by YOUR Board and management team have had a meaningful, positive impact, creating value for all shareholders. The Funds nominees are fiduciaries with a track record of putting YOUR interests first 100% All nominees have closed-end fund experience 90+ Years of collective relevant leadership experience Market experts and business leaders from Wall Street to D.C. History of protecting your consistent distributions YOUR Funds Board and award-winning1 management have taken impactful actions 174% Total distribution growth2 Peers: -31%2 27.6% Total market price return3 Outperformance: 14.6%3, 4 $13.3m NAV accretion from share repurchase program2 73.9% Discount to NAV narrowing5 Sabas unqualified nominees are loyal to Sabas interests, not yours 0% None of Sabas nominees have any closed-end fund experience 0 Nominees have no insights into your Funds strategies or operations 0% None of Sabas nominees have any risk management or compliance experience Sabas nominees are beholden to Sabas interests, not yours 1 Named Morningstars Outstanding Portfolio Manager of the Year in 2023 2 Bloomberg as of 5/20/2024; Inception as of 9/25/2020; Peer set includes: ECAT, GLV, GLO, BXSY, FT, RCG, RIV, OPP and SPE; PDX included in the peer set starting 1/1/2024 3 Morningstar/BlackRock data as of 5/24/2024; Returns for time periods greater than 1 year are annualized; Returns on price assume dividends are reinvested 4 Outperformance against benchmark: 50% MSCI ACWI Index + 50% Bloomberg US AGG Bond Index. BCAT uses a 50/50 blend of the two benchmarks to best represent a proxy for the multi-asset nature of each fund as they are invested across equity and fixed income assets 5 Morningstar as of 5/24/2024 ; Discount to NAV narrowing from 12/31/2022 to 5/24/2024 We ask that all shareholders vote on the enclosed WHITE proxy card today to preserve YOUR Fund: FOR BlackRock Board nominees AGAINST Sabas proposal to terminate the investment management agreement with BlackRock ! IMPORTANT: Do not return any gold cards sent to you by Saba How do I vote? Vote online Using the website provided on your enclosed WHITE proxy card and following the simple instructions Vote by phone By calling the toll-free number on your enclosed WHITE proxy card and following the simple instructions Vote by mail By completing and returning your enclosed WHITE proxy card in the postage paid envelope provided Please do NOT send back any proxy card you may receive from Saba ⺠If you have already sent back the proxy card received from Saba, you can still change your vote by promptly voting on the WHITE proxy card, which will replace the proxy card you previously completed. ⺠If you have any questions about the proposals to be voted, please feel free to contact Georgeson LLC (Georgeson), toll free at 1-866-529-8146. Important information about the Fund This material is not an advertisement and is intended for existing shareholder use only. This document and the information contained herein relates solely to BlackRock Capital Allocation Term Trust (BCAT). The information contained herein does not relate to, and is not relevant to, any other fund or product sponsored or distributed by BlackRock or any of its affiliates. This document is not an offer to sell any securities and is not a solicitation of an offer to buy any securities. Common shares for the closed-end fund identified above are only available for purchase and sale at current market price o

View Full Filing

View this DEFA14A filing on SEC EDGAR