BlackRock Science & Tech Term Trust Files Proxy Statement

TL;DR

BlackRock Science & Tech Term Trust filed its proxy statement (DEFA14A) on 4/10/24. Shareholders vote on company matters.

AI Summary

BlackRock Science & Technology Term Trust filed a DEFA14A on April 10, 2024, detailing proxy materials. The filing concerns the company's annual meeting and related governance matters. It was filed under the 1934 Securities Exchange Act, with the company's fiscal year ending on December 31.

Why It Matters

This filing provides shareholders with crucial information regarding the company's governance and voting matters, allowing them to participate in important corporate decisions.

Risk Assessment

Risk Level: low — This is a routine proxy filing (DEFA14A) and does not contain new financial information or significant corporate actions that would inherently increase risk.

Key Numbers

• 1231 — Fiscal Year End (Indicates the end of the company's financial reporting period.)

Key Players & Entities

• BlackRock Science & Technology Term Trust (company) — Registrant
• 1934 Act (legal_document) — Securities Exchange Act
• DEFA14A (document_type) — Filing Type

FAQ

Key Financial Figures

• $42 million — d funds 19% shareholder return in 2023, $42 million in share repurchases at a discount, out

Filing Documents

• d816733ddefa14a.htm (DEFA14A) — 12KB
• g816733g02g02.jpg (GRAPHIC) — 371KB
• g816733g03g03.jpg (GRAPHIC) — 243KB
• 0001193125-24-092012.txt ( ) — 859KB

From the Filing

SCIENCE AND TECHNOLOGY TERM TRUST BLACKROCK SCIENCE AND TECHNOLOGY 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 Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 BLACKROCK SCIENCE AND TECHNOLOGY 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. BlackRock Science and Technology Term Trust (NYSE: BSTZ) Dear Shareholder: I am writing with important information about your upcoming 2024 Annual Shareholder Meeting for BlackRock Science and Technology Term Trust (NYSE: BSTZ) (the Fund). In the next few weeks, you will receive BSTZs proxy statement and WHITE proxy card. I urge you to review the proposals and protect your long-term investment by promptly voting your shares on the WHITE proxy card when you receive it. Your fund is under attack This year, your voice matters more than ever. A well-known activist hedge fund, Saba Capital Management L.P. (Saba), is once again attacking your long-term investment and threatening actions that we believe would harm the Fund and all shareholders by attempting to: Take control of the Funds board with a slate of inexperienced, hand-picked candidates Fire BlackRock as investment advisor to the Fund This would deprive shareholders of BlackRocks and the Boards expertise and potentially imperil the Funds ability to generate your consistent income and returns. In addition, if Saba were to succeed, it may seek to appoint itself as investment advisor and/or fundamentally disrupt BSTZs investment objectives and strategies, all to enrich itself. Your experienced Board and distinguished management team have consistently worked to meet BSTZs investment objectives to provide total return and income through a combination of current income, current gains and long-term capital appreciation. Under their stewardship, the Fund has enhanced shareholder value through share repurchases and attractive monthly payments to shareholders. Your Board and management team are committed to protecting and advancing the interests of all shareholders, not just a few. BSTZ delivers for all shareholders 18% shareholder return year to date in 2024, Independent, experienced and proven Board outperforming 98% of all closed-end funds 19% shareholder return in 2023, $42 million in share repurchases at a discount, outperforming 80% of all closed-end funds enhancing value for shareholders Income alternative for investors seeking 100% liquidity at net asset value via term structure access to leading artificial intelligence technologies including private companies We ask all shareholders to support their long-term investment in the fund. As always, we will continue to prioritize your best interests and help you meet your financial goals. Thank you for your continued loyalty and support. Sincerely, John M. Perlowski President and Chief Executive Officer 1 Additional Information The Funds definitive proxy statement for the 2024 Annual Meeting of Shareholders in connection with solicitation of proxies from Fund shareholders has yet to be filed with the U.S. Securities and Exchange Commission (the SEC). After the definitive proxy statement is filed with the SEC, it may be amended or withdrawn. BEFORE MAKING ANY VOTING DECISION, SHAREHOLDERS ARE URGED TO READ THE NOTICE OF ANNUAL MEETING OF SHAREHOLDERS, DEFINITIVE PROXY STATEMENT, WHITE PROXY CARD AND ANY OTHER RELEVANT DOCUMENTS, WHEN THEY ARE AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE FUND AND THE UPCOMING ANNUAL MEETING OF SHAREHOLDERS. Shareholders can obtain additional copies of the notice of annual meeting, the definitive proxy statement and other documents, when they are filed by the Fund with the SEC, by directing a request to the Funds proxy solicitor by calling the toll-free number provided in the definitive proxy statement. Copies are also expected to be available at no charge at the website identified in the definitive proxy statement. Additional copies of the proxy materials will be delivered promptly upon request. Free copies of these materials can also be found on the SECs website at http://www.sec.gov. Pursuant to SEC proxy rules, the Funds Trustees, nominees for Trustee and executive officers are participants in connection with the 2024 Annual Meeting of Shareholders. Certain regular employees and officers of the Funds investment manager, administrato

View Full Filing

View this DEFA14A filing on SEC EDGAR