BlackRock Capital Allocation Term Trust (NYSE: BCAT) completed its transferable rights offering, with anticipated proceeds of approximately $43 million.
The offer expired on October 21, 2026, and permitted subscriptions for up to 21,255,200 common shares. The final subscription price was $13.30 per share, equal to 98.5% of net asset value on that date. The Fund expects to issue approximately 3.3 million common shares, including subscriptions through notices of guaranteed delivery. BlackRock Advisors will pay all offering expenses, allowing the Fund to receive the entire proceeds. Newly issued shares will not receive dividends or distributions with record dates before the offer expired.
BlackRock Capital Allocation Term Trust (BCAT) announced a transferable rights offering for existing common shareholders, with a record date of September 25, 2026.
Holders will receive one Right per share and may buy one new share for every five Rights at a Subscription Price set on October 21, 2026, based on 95% of the average market price over the preceding five trading days, capped at $0.01 below NAV and floored at 98.5% of NAV. Rights will trade on the NYSE under “BCAT RT” and are expected to cease trading on October 20, 2026.
Record Date shareholders may exercise, sell, or let Rights expire and may receive an over-subscription privilege if they fully exercise Rights. The adviser will bear all offering expenses, and the Fund expects to maintain its current distribution level through year-end 2026.
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BlackRock Capital Allocation Trust (NYSE: BCAT) has secured a $550 million line of credit from BNP Paribas Prime Brokerage, which can be accessed anytime subject to certain conditions. The 179-day rolling facility allows the Trust to borrow funds at the Overnight Bank Funding Rate plus 0.75%. A security interest in nearly all assets has been granted to BNP. The Trust must maintain asset coverage and pay a commitment fee if utilization dips below 80%. This move is expected to enhance liquidity and support investment strategies.
BlackRock held a conference call on June 24 featuring portfolio managers Rick Rieder and Phil Ruvinsky, discussing the performance and strategies of BlackRock Capital Allocation Trust (NYSE: BCAT) and BlackRock Innovation and Growth Trust (NYSE: BIGZ).
Listeners can access the replay by dialing 888-203-1112, using the passcode 7885364. For more updates, investors are encouraged to visit www.blackrock.com/CEF.
BlackRock will host a conference call on June 24 at 4:00pm ET, featuring portfolio managers Rick Rieder and Phil Ruvinsky from BlackRock Capital Allocation Trust (BCAT) and BlackRock Innovation and Growth Trust (BIGZ). Key topics include Rieder's strategy on unconstrained investments across public and private markets in BCAT, and Ruvinsky's management of the $5 billion raised during BIGZ's March 2021 IPO. Investors can join the call by dialing 855-255-2663 with the Call ID 7885364.
BlackRock released its first-quarter fund commentary for BlackRock Capital Allocation Trust (BCAT), highlighting its strategy of investing in public and private markets across equity and fixed income. The Trust offers a monthly distribution of $0.1041 per share, reflecting a 6.25% distribution rate. Since its IPO in September 2020, BCAT has invested approximately $80 million in private equity and debt, aiming to leverage illiquidity premiums. Key management includes Rick Rieder, CIO of Global Fixed Income. For detailed insights, refer to the linked commentary.