BlackRock Health Sciences Term Trust Stock Price, News & Analysis

BlackRock announced significant updates to the managed distribution plans for three funds: BMEZ, BSTZ, and BTX. Starting October 2025, the funds will transition from floating rate to level rate monthly distributions. The new fixed monthly distributions are: $0.11 for BMEZ, $0.1625 for BSTZ, and $0.0525 for BTX.

The changes represent decreases from prior distributions and aim to enhance distribution stability while maintaining competitive rates. For the fiscal year through August 29, 2025, BMEZ and BTX distributions were entirely return of capital, while BSTZ distributions came from long-term capital gains. The funds' performance varies significantly, with BSTZ showing positive 5-year returns of 5.85%, while BMEZ and BTX reported negative returns of -0.18% and -11.19% respectively.

BlackRock Health Sciences Term Trust (BMEZ) has announced the final results of its tender offer that expired on April 17, 2025. The tender offer, which aimed to repurchase up to 40% of outstanding common shares (40,502,046 shares), was undersubscribed with 38,753,713 shares tendered.

The Fund will purchase all properly tendered shares at a purchase price of $14.2086 per share, representing 99.5% of the Fund's net asset value as of April 21, 2025. Payments to shareholders are expected to be made within approximately five business days after the expiration date, around April 25, 2025.

BlackRock Health Sciences Term Trust (BMEZ) has announced the completion and preliminary results of its tender offer that ran from March 21, 2025, to April 17, 2025. The trust offered to repurchase up to 40,502,046 shares (40% of outstanding common shares) at 99.5% of the Fund's NAV as of April 21, 2025.

According to preliminary data, shareholders tendered 38,753,713 shares. As the tender offer was undersubscribed, all properly tendered shares are expected to be purchased. The final results of the tender offer are anticipated to be announced around April 21, 2025.

BlackRock Health Sciences Term Trust (BMEZ) has initiated a significant tender offer to repurchase up to 40% of its outstanding common shares. The shares will be repurchased at 99.5% of the Fund's Net Asset Value (NAV) per share, as determined on the pricing date following the expiration of the tender offer.

If shareholders tender more than 40% of outstanding shares, the Fund will purchase shares on a pro rata basis, meaning there's no guarantee all tendered shares will be purchased. Payments for accepted shares are expected to be processed within approximately five business days after the expiration date.

Saba Capital Management has reached standstill agreements with BlackRock Advisors regarding two closed-end funds. The BlackRock Innovation and Growth Term Trust (BIGZ) will conduct a cash tender offer for 50% of its outstanding shares, while the BlackRock Health Sciences Term Trust (BMEZ) will tender 40% of its shares. Both offers will be priced at 99.5% of NAV.

The tender offers will commence on different dates: BMEZ on March 21, 2025, and BIGZ on June 9, 2025. Both offers will expire 20 business days after commencement, with payment occurring within seven business days after expiration. As part of the agreement, Saba will tender all its shares in both funds and withdraw its shareholder proposals, agreeing to standstill covenants through the 2027 proxy season.

BlackRock has announced significant tender offers for two of its trust funds. The BlackRock Innovation and Growth Term Trust (BIGZ) will repurchase 50% of its outstanding shares, while the BlackRock Health Sciences Term Trust (BMEZ) will repurchase 40% of its outstanding shares. Both offers will be priced at 99.5% of each fund's net asset value per common share.

These tender offers are part of agreements with Saba Capital Management that will remain effective through each fund's 2027 proxy season. Under these agreements, Saba has committed to follow certain standstill covenants, withdraw its 2025 shareholder proposal, and vote according to the Board's recommendations.

As a result, both funds will cancel their previously announced tender offers for the quarterly measurement period ended December 31, 2024, and terminate their existing discount management programs effective immediately.

BlackRock closed-end funds announced final results of their tender offers for up to 2.5% of outstanding common shares. The tender offers, which expired on November 18, 2024, were oversubscribed for each fund. As a result, shares will be purchased from tendering shareholders on a pro rata basis. For BlackRock Health Sciences Term Trust (BMEZ), 21,043,412 shares were tendered, with 2,596,285 to be purchased at $16.3856 per share. The purchase price equals 98% of each fund's NAV as of November 19, 2024. Payments are expected within five business days after expiration.