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BlackRock Science and Technology Trust (NYSE: BST) has completed its transferable rights offer, which ran from June 18 to July 14, 2021. Rights holders could subscribe for up to 8,417,857 common shares at a final price of $52.51 each, equating to 94% of the Trust's net asset value as of the expiration date. The Offer is expected to raise approximately $359 million, with the Trust receiving all proceeds after the Advisor covers related expenses. The funds will be invested according to the Trust's objectives.
BlackRock Science and Technology Trust (NYSE: BST) announced its Board approved the issuance of transferable rights to common shareholders as of June 18, 2021. Shareholders can purchase additional shares at a discount, aimed at increasing the Trust's assets for investment opportunities. The Adviser will cover all Offer expenses. Key benefits include growth in technology investments, rewards for shareholders through discounted shares, tax efficiency, enhanced liquidity, and lower operating costs. The Trust expects to maintain its distribution and has scheduled upcoming monthly distributions.
The BlackRock Science and Technology Trust (BST) announced an early declaration of its monthly distribution for July, set at $0.226000 per share. Key dates include the declaration on June 9, 2021, ex-dividend date on July 2, 2021, record date on July 6, 2021, and payable date on July 30, 2021. Investors should note that shares acquired after July 1, 2021, will not receive this distribution. The Trust employs a managed distribution plan to maintain consistent distributions, which may include capital gains and returns of capital if necessary.
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