BlackRock Innovation & Growth Term Trust Proxy Filing

TL;DR

BlackRock Innovation & Growth Term Trust filed proxy docs, no fee needed. Vote your shares!

AI Summary

BlackRock Innovation & Growth Term Trust filed a DEFA14A on June 6, 2024, concerning proxy materials. The filing indicates no fee was required for this submission, which is a definitive proxy statement. The company's fiscal year ends on December 31st, and its central index key is 0001836057.

Why It Matters

This filing provides shareholders with important information regarding voting matters and corporate governance for BlackRock Innovation & Growth Term Trust.

Risk Assessment

Risk Level: low — This filing is a routine proxy statement and does not involve any immediate financial transactions or significant corporate changes that would inherently increase risk.

Key Players & Entities

• BlackRock Innovation & Growth Term Trust (company) — Registrant
• 0001836057 (company) — Central Index Key
• 1231 (date) — Fiscal Year End
• 20240606 (date) — Filing Date

FAQ

Key Financial Figures

• $177m — urchases drive meaningful gains in NAV1 $177m Shares repurchased $35.5m NAV accretion
• $35.5m — gains in NAV1 $177m Shares repurchased $35.5m NAV accretion for our shareholders 1 Bl
• $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 dividends3. We have also r
• $1.3 billion — ia dividends3. 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 bet
• $0.044440 — lized Long-Term Gains Return of Capital $0.044440 $0 (0%) $0 (0%) $0 (0%) $0.044440 (100%
• $0 — -Term Gains Return of Capital $0.044440 $0 (0%) $0 (0%) $0 (0%) $0.044440 (100%) E
• $0.222760 — lized Long-Term Gains Return of Capital $0.222760 $0 (0%) $0 (0%) $0 (0%) $0.222760 (100%

Filing Documents

• d836191ddefa14a.htm (DEFA14A) — 19KB
• g836191g01g01.jpg (GRAPHIC) — 378KB
• g836191g02g02.jpg (GRAPHIC) — 389KB
• g836191g03g03.jpg (GRAPHIC) — 257KB
• g836191g04g04.jpg (GRAPHIC) — 430KB
• 0001193125-24-156099.txt ( ) — 2023KB

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) BlackRock is fighting for you. Vote now and make your voice heard: Vote today! Defend your fund, save your income. Vote today: Phone Online WHITE proxy card ? How to vote: FOR the BlackRock nominees AGAINST Sabas proposal to terminate investment mgmt. agreement HOW TO VOTE: Use the WHITE proxy card, and vote FOR your experienced nominees and AGAINST Sabas proposal. 1. To Elect the Class I and Class II Board Member Nominees. FOR AGAINST ABSTAIN 1.1 Cynthia L. Egan (Class I) 1.2 Lorenzo A. Flores (Class I) 1.3 Stayce D. Harris (Class I) 1.4 R. Glenn Hubbard (Class II) 1.5 W. Carl Kester (Class II) 1.6 Catherine A. Lynch (Class I) 1.7 John M. Perlowski (Class II) 2. If properly presented at the meeting, a proposal submitted by hedge fund managed by Saba Capital Management L.P. to terminate the investment management agreement between the Trust and BlackRock Advisors, LLC. FOR AGAINST ABSTAIN ! IMPORTANT: Do not return any gold proxy card from Saba BlackRock is delivering real value: Your Fund outperformed peers in 20231 BIGZ delivered higher yield on NAV compared to peers1 Yield on NAV 12.1% BIGZ 8.2% ASG Total shareholder returns (2023)1 19.19% 16.34% BIGZ ASG Actions taken by your Board and management team have narrowed BIGZs discount to NAV Total discount narrowing2, 35.6% Discount to NAV2 22.9% 14.7% 12/31/2022 5/24/2024 BlackRocks open market share repurchase program enhances the value of your investment Share repurchases drive meaningful gains in NAV1 $177m Shares repurchased $35.5m NAV accretion for our shareholders 1 Bloomberg as of 5/24/2024; Notes: Inception as of 3/29/2021; Total shareholder return on price annualized for periods longer than 1 year (assumes dividends are reinvested) 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 Board - but 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 BlackRock CEFs 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 dividends3. 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: BRW Total Shareholder Return5 BRW Morningstar US CEF Bank Loans BlackRock Bank Loans Funds Median 13.4% 18.0% 30.6% Since takeover (6/4/2021 - 5/24/2024) 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: FOR AGAINST ABSTAIN 1. To Elect the Class I and Class II Board Member Nominees. 1.1 Cynthia L. Egan (Class I) 1.2 Lorenzo A. Flores (Class I) 1.3 Stayce D. Harris (Class I) 1.4 R. Glenn H

View Full Filing

View this DEFA14A filing on SEC EDGAR