BlackRock Enhanced Gov Fund Stock Price, News & Analysis

BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) was a closed-end investment fund managed within the BlackRock fund complex. According to BlackRock announcements, EGF underwent a reorganization with BlackRock Income Trust, Inc. (NYSE: BKT), with BKT continuing as the surviving fund. This means that EGF functioned as an investment vehicle whose shareholders ultimately became shareholders of BKT through a share conversion process.

Reorganization into BlackRock Income Trust, Inc. (BKT)

BlackRock reported that the Boards of Directors of BlackRock Enhanced Government Fund, Inc. and BlackRock Income Trust, Inc. approved a reorganization in which EGF was combined with and into BKT. The reorganization was described as a transaction where EGF and BKT were treated as separate funds before the combination, with BKT remaining as the ongoing fund after completion.

BlackRock later announced that the reorganization of EGF with and into BKT was completed as of the opening of business of the New York Stock Exchange on March 24, 2025. As part of this transaction, each EGF shareholder received common shares of BKT. The number of BKT shares received was based on the aggregate net asset value of the EGF common shares held by each shareholder, determined at the close of business on March 21, 2025, and converted using a specified share conversion ratio.

Share Conversion and Cash in Lieu of Fractional Shares

In the completed reorganization, BlackRock stated that no fractional BKT common shares were issued. Instead, EGF shareholders received cash in lieu of any fractional BKT shares that would otherwise have been issued based on the conversion ratio. BlackRock also indicated that the EGF distribution scheduled for payment on March 31, 2025 would be paid in cash.

Fund Structure and Oversight

BlackRock’s disclosures describe EGF and BKT as closed-end funds overseen by their respective Boards of Directors. The reorganization required approval from EGF’s shareholders, while shareholders of BKT were not required to approve the transaction. BlackRock Advisors, LLC announced the Board approvals and explained that the solicitation of proxies and any offers to purchase or sell shares related to the reorganization would be made only through a definitive Proxy Statement/Prospectus filed with the U.S. Securities and Exchange Commission (SEC).

BlackRock also noted that the Proxy Statement/Prospectus relating to the reorganization would contain information about the investment objectives, risks, charges and expenses of the funds, and that investors and security holders were urged to read these documents carefully and in their entirety when available.

Relationship to BlackRock

BlackRock describes its broader purpose as helping people experience financial well-being and notes that it acts as a fiduciary to investors. In its communications about EGF and BKT, BlackRock indicates that it provides fund updates, including performance and certain other data, in the closed-end funds section of its website and that annual and semi-annual reports and other regulatory filings of the funds are accessible on the SEC’s website and on BlackRock’s website.

While the detailed investment strategy or portfolio composition of EGF is not described in the provided materials, the fund is identified by name as BlackRock Enhanced Government Fund, Inc., and it is referenced together with BlackRock Income Trust, Inc. in the context of a closed-end fund reorganization.

Current Status of EGF Ticker

Based on BlackRock’s announcement that the reorganization was completed on March 24, 2025, EGF’s role as a separate listed fund was effectively concluded as of that date, with BKT continuing as the surviving fund. Investors researching the EGF ticker are therefore typically looking at the historical record of BlackRock Enhanced Government Fund, Inc. and the terms under which its shareholders became shareholders of BlackRock Income Trust, Inc.

Key Points for Investors Researching EGF

• EGF is referenced as BlackRock Enhanced Government Fund, Inc., formerly listed on the New York Stock Exchange under the ticker EGF.
• BlackRock announced Board approval of a reorganization of EGF with and into BlackRock Income Trust, Inc. (BKT), with BKT as the surviving fund.
• BlackRock later announced that the reorganization was completed as of the opening of business of the New York Stock Exchange on March 24, 2025.
• Each EGF shareholder received BKT common shares based on the aggregate net asset value of their EGF holdings as of March 21, 2025, using a specified share conversion ratio, with cash paid in lieu of fractional BKT shares.
• The EGF cash distribution scheduled for March 31, 2025 was stated to be paid in cash.
• Information about the reorganization was to be provided in a Proxy Statement/Prospectus filed with the SEC, and fund reports and other regulatory filings are accessible on the SEC’s website and on BlackRock’s website.

FAQs about BlackRock Enhanced Government Fund, Inc. (EGF)

• What was BlackRock Enhanced Government Fund, Inc. (EGF)?
  

  BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) was a closed-end fund within the BlackRock fund family. It is referenced by BlackRock in connection with a reorganization in which EGF was combined with and into BlackRock Income Trust, Inc. (NYSE: BKT).

• What happened to the EGF ticker?
  

  BlackRock announced that the reorganization of EGF with and into BlackRock Income Trust, Inc. was completed as of the opening of business of the New York Stock Exchange on March 24, 2025. After this transaction, BKT continued as the surviving fund, and EGF ceased operating as a separate fund.

• How did EGF shareholders receive BKT shares?
  

  According to BlackRock, each EGF shareholder received BKT common shares in an amount equal to the aggregate net asset value of the EGF common shares held by that shareholder as of the close of business on March 21, 2025, using a stated share conversion ratio. No fractional BKT shares were issued; instead, shareholders received cash in lieu of any fractional shares.

• Did EGF shareholders need to approve the reorganization?
  

  BlackRock reported that the Boards of Directors of EGF and BKT approved the reorganization and that completion of the transaction was subject to the requisite approvals by EGF’s shareholders. Shareholders of BKT were not required to approve the reorganization.

• Where can investors find official documents about the EGF and BKT reorganization?
  

  BlackRock stated that a Proxy Statement/Prospectus relating to the reorganization would be filed with the SEC and that investors and security holders could obtain free copies of that document and other filings on the SEC’s website. BlackRock also noted that annual and semi-annual reports and other regulatory filings of the funds are accessible on the SEC’s website and on BlackRock’s website.

• Does EGF still operate as an independent fund?
  

  Based on BlackRock’s announcement that the reorganization was completed on March 24, 2025, EGF no longer operates as an independent fund. BlackRock Income Trust, Inc. (BKT) is identified as the surviving fund following the reorganization.

• What role does BlackRock play in relation to EGF and BKT?
  

  BlackRock Advisors, LLC announced the Board approvals and described the reorganization process for EGF and BKT. BlackRock also provides information about the funds through regulatory filings and fund updates, and describes its broader purpose as helping people experience financial well-being as a fiduciary to investors.

• What kind of information about EGF is available through regulatory filings?
  

  BlackRock notes that annual and semi-annual reports and other regulatory filings of the funds are accessible on the SEC’s website and on BlackRock’s website. These documents may discuss factors affecting the funds, including information relevant to the reorganization and the funds’ operations.