BlackRock Capital Allocation Term Trust Files Proxy Materials

TL;DR

BlackRock Capital Allocation Term Trust filed proxy docs, no new fee. Shareholders get info.

AI Summary

BlackRock Capital Allocation Term Trust filed a Definitive Additional Materials proxy statement on June 6, 2024. This filing relates to the company's proxy materials and does not involve a new fee, as indicated by the 'No fee required' checkbox. The filing is made under the Securities Exchange Act of 1934.

Why It Matters

This filing provides shareholders with important information regarding the company's governance and voting matters, allowing them to make informed decisions.

Risk Assessment

Risk Level: low — This filing is a routine proxy statement update and does not contain information that suggests significant new risks.

Key Players & Entities

• BlackRock Capital Allocation Term Trust (company) — Registrant
• 0001193125-24-156094 (filing_id) — Accession Number
• 20240606 (date) — Filing Date
• 811-23564 (sec_file_number) — SEC File Number

FAQ

Key Financial Figures

• $78m — purchases drive meaningful gains in NAV1$78m$13.3mShares repurchased NAV accretion f
• $13.3m — hases drive meaningful gains in NAV1$78m$13.3mShares repurchased NAV accretion for our
• $3.6 billion — t long-term value over time, generating $3.6 billion in gains in 2023 alone while paying sha
• $3.1 billion — in 2023 alone while paying shareholders $3.1 billion per year via dividends 3. We have also
• $1.3 billion — a dividends 3. We have also repurchased $1.3 billion in shares, generating over $200 million
• $200 million — $1.3 billion in shares, generating over $200 million in gains4.Myth Saba claims to be a bett

Filing Documents

• d836131ddefa14a.htm (DEFA14A) — 14KB
• g836131g01g01.jpg (GRAPHIC) — 319KB
• g836131g02g02.jpg (GRAPHIC) — 337KB
• g836131g03g03.jpg (GRAPHIC) — 273KB
• 0001193125-24-156094.txt ( ) — 1296KB

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) BlackRock is fighting for you. Vote now and make your voice heard: Vote today! Vote today:? How to vote: Defend your fund, Phone FOR the BlackRock nominees save your income. Online AGAINST Sabas proposal to terminate WHITE proxy card investment mgmt. agreement HOW TO VOTE: Use the WHITE proxy card, and vote FOR your experienced nominees and AGAINST Sabas proposal. To Elect the Class II Board Member Nominees. AGAINST ABSTAIN R. Glenn Hubbard W. Carl Kester John M. Perlowski If properly presented at the meeting, a proposal submitted by a hedge fund managed by Saba FOR ABSTAIN Capital Management, L.P. to terminate the investment management agreement between the Trust and BlackRock Advisors, LLC.! IMPORTANT: Do not return any gold proxy card from Saba BlackRock is delivering real value: Your Fund outperformed peers in 2023 Sustainable distributions grew, 1 while peers decreased1 Total shareholder returns (2023)1 Distribution enhancements since inception 19.27% 6.53% BCAT Peermedian+174.2%BCAT-28.4%Peers Actions taken by your Board and management team have narrowed BCATs discount to NAV Total discount narrowing2 73.9% Discount to NAV2 17.7% 12/31/2022 5/24/2024 4.6% BlackRocks open market share repurchase program enhances the value of your investment Share repurchases drive meaningful gains in NAV1$78m$13.3mShares repurchased NAV accretion for our shareholders BlackRock 1 Broad ridge; Bloomberg as of 5/24/2024; Peer set includes ECAT, GLV, GLO, BXSY, FT, RCG, RIV, OPP and SPE; PDX included in the peer set starting 1/1/2024; Total shareholder return on price annualized for periods longer than 1 year (assumes dividends are reinvested); Inception as of 9/25/2020 2 12/31/2022 5/24/2024; Morningstar/BlackRock data as of 5/24/2024 The truth about Saba Setting the record straight Saba has made numerous unsubstantiated claims about BlackRock, your Fund, and your Boardbut they do not add up. Myth Saba claims that its actions are in the best interest of CEF shareholders Reality Saba has chosen to use its vast resources to buy large stakes in closed-end funds (CEF), engage in costly proxy fights, and force actions that provide Saba with a quick profit for themselves at your expense. Myth Saba claims arent delivering results for investors Reality BlackRock CEFs have delivered consistent long-term value over time, generating $3.6 billion in gains in 2023 alone while paying shareholders $3.1 billion per year via dividends 3. We have also repurchased $1.3 billion in shares, generating over $200 million in gains4.Myth Saba claims to be a better CEF manager than BlackRock Reality BlackRock has a 35+ year track record of delivering long-term value for CEF shareholders. At the funds Saba has taken over (BRW, SABA), shareholders are now exposed to riskier strategies, leaving them with a fund that no longer serves their original goals, as well as higher management fees. Sabas CEF track is marked by failure and underperformance5:BRWTotal Shareholder Return5 BRW Morningstar US CEF Bank Loans BlackRock Bank Loans Funds Median 13.4% Since takeover (6/4/2021 18.0% 5/24/2024) 30.6% 3 Annualized estimate based on June 2024 dividends for BlackRock closed-end funds 4 BlackRock. Since inception of the funds repurchase programs to 4/30/2024. Date of inception of BCAT, ECAT, BIGZ, BMEZ and BSTZ repurchase programs is 11/19/2021. Date of inception of BFZ, BNY, MHN, MPA and MYN repurchase programs is 11/15/2018 5 Bloomberg as of 5/24/2024; Total shareholder return on price (assumes dividends are reinvested) Vote today. Make your voice heard, and save your fund and your investment. This is no time for taking chances. We need all shareholders to vote on the enclosed WHITE proxy card today to preserve YOUR Fund: 1. To Elect the Class II Board Member Nominees. FOR AGAINST ABSTAIN 1.1 R. Glenn Hubbard 1.2 W. Carl Kester 1.3 John M. Per lowski 2. If properly presented at the meeting, a proposal submitted by Saba Capital FOR AGAINST ABSTAIN Management L.P. to terminate

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