BlackRock Innovation & Growth Term Trust Proxy Filing
Ticker: BTX · Form: DEFA14A · Filed: Jun 3, 2024 · CIK: 1836057
| Field | Detail |
|---|---|
| Company | Blackrock Innovation & Growth Term Trust (BTX) |
| Form Type | DEFA14A |
| Filed Date | Jun 3, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $35.5m |
| Sentiment | neutral |
Sentiment: neutral
Topics: proxy-statement, governance
TL;DR
BIGTX filed proxy docs. Shareholders vote on company stuff.
AI Summary
BlackRock Innovation & Growth Term Trust (BIGTX) filed a DEFA14A, indicating a proxy statement filing. The filing, dated June 3, 2024, pertains to the company's corporate governance and shareholder matters. No specific proposals or financial details were immediately apparent in the provided header information.
Why It Matters
This filing is a routine proxy statement, important for shareholders to understand company governance and upcoming voting matters.
Risk Assessment
Risk Level: low — This is a standard proxy filing (DEFA14A) and does not contain new financial information or significant corporate actions.
Key Players & Entities
- BlackRock Innovation & Growth Term Trust (company) — Registrant
- 0001836057 (company) — Central Index Key
- 811-23625 (company) — SEC File Number
- 241011795 (company) — Film Number
FAQ
What is the purpose of a DEFA14A filing?
A DEFA14A filing is a Definitive Proxy Statement filed with the SEC, providing shareholders with information about matters to be voted on at a shareholder meeting, such as director elections, executive compensation, and other corporate actions.
Who is the filer of this document?
The filer is BlackRock Innovation & Growth Term Trust, as indicated by the 'FILER: COMPANY DATA: COMPANY CONFORMED NAME' field.
When was this filing made?
The filing was made on June 3, 2024, as indicated by the 'FILED AS OF DATE: 20240603' field.
What is the company's fiscal year end?
The company's fiscal year end is December 31, as indicated by the 'FISCAL YEAR END: 1231' field.
What is the company's business address?
The company's business address is Bellevue Parkway, Wilmington, DE 19808.
Filing Stats: 849 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2024-05-31 21:34:26
Key Financial Figures
- $35.5m — n NAV1 17.7% Total market price return2 $35.5m NAV accretion from share repurchase pro
Filing Documents
- d796596ddefa14a.htm (DEFA14A) — 12KB
- g796596g01g01.jpg (GRAPHIC) — 274KB
- g796596g02g02.jpg (GRAPHIC) — 217KB
- 0001193125-24-152123.txt ( ) — 690KB
From the Filing
INNOVATION AND GROWTH TERM TRUST BLACKROCK INNOVATION AND 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 Statement 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. YOUR Vote Matters BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) 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 150+ 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 management have taken impactful actions 12% Yield on NAV1 17.7% Total market price return2 $35.5m NAV accretion from share repurchase program1 35.6% Discount to NAV narrowing3 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 6/7 nominees have zero risk management or compliance experience Sabas nominees are beholden to Sabas interests, not yours 1 Bloomberg as of 5/20/2024 2 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 3 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 [X] 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 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. If you have any questions about the proposals to be voted, please feel free to contact Georgeson LLC (Georgeson), toll free at 1-866-529-6605. 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 Innovation and Growth Term Trust (BIGZ). 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 on a stock exchange. A closed-end funds dividend yield, market price and NAV will fluctuate with market conditions. The information for this Fund is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Performance results reflect past performance and are no guarantee of future results. Current performance may be lower or higher than the performance data quoted. All returns assume reinvestment of all dividends. The market value and net asset value (NAV) of a funds shares will fluctuate with m