BlackRock Innovation & Growth Term Trust Proxy Filing

TL;DR

BlackRock Innovation & Growth Term Trust filed its definitive proxy statement on 4/10/24. Shareholders, pay attention.

AI Summary

BlackRock Innovation & Growth Term Trust filed a DEFA14A proxy statement on April 10, 2024. This filing is a definitive proxy statement, indicating it's for soliciting shareholder votes. The company is BlackRock Innovation & Growth Term Trust, with its principal executive offices located in Wilmington, Delaware.

Why It Matters

This filing is important for shareholders as it contains information related to upcoming shareholder votes, which could impact the trust's management and investment strategy.

Risk Assessment

Risk Level: low — This is a standard proxy filing (DEFA14A) which typically contains routine information for shareholders and does not inherently signal significant new risks.

Key Players & Entities

• BlackRock Innovation & Growth Term Trust (company) — Registrant
• 0001836057 (company) — Central Index Key
• 811-23625 (company) — SEC File Number
• 20240410 (date) — Filing Date

FAQ

Key Financial Figures

• $177 million — dependent, experienced and proven Board $177 million in share repurchases at a discount, enh

Filing Documents

• d816600ddefa14a.htm (DEFA14A) — 12KB
• g816600g02u01.jpg (GRAPHIC) — 311KB
• g816600g03u01.jpg (GRAPHIC) — 208KB
• 0001193125-24-092008.txt ( ) — 727KB

From the Filing

INNOVATION & GROWTH TERM TRUST BLACKROCK INNOVATION & GROWTH 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 Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 BLACKROCK INNOVATION AND GROWTH 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 Innovation and Growth Term Trust (NYSE: BIGZ) Dear Shareholder: I am writing with important information about your upcoming 2024 Annual Shareholder Meeting for BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) (the Fund). In the next few weeks, you will receive BIGZs 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 BIGZs investment objectives and strategies, all to enrich itself. Your fund has delivered high income and outperformance Your experienced Board and distinguished management team have consistently worked to meet BIGZs 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. BIGZ delivers for all shareholders... 19% shareholder return in 2023, outperforming 81% of all closed-end funds 13% shareholder return year to date in 2024, outperforming 91% of all closed-end funds Income alternative for investors seeking access to innovative businesses including private companies Independent, experienced and proven Board $177 million in share repurchases at a discount, enhancing value for shareholders 100% liquidity at net asset value via term structure 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 investm

View Full Filing

View this DEFA14A filing on SEC EDGAR