BlackRock Capital Allocation Term Trust (BCAT) Announces Results of its Rights Offering
NEW YORK, October 22, 2026--BlackRock Capital Allocation Term Trust (NYSE: BCAT) (the "Fund") today announced the successful completion of its transferable rights offer (the "Offer") which expired on October 21, 2026 (the "Expiration Date"). The Offer entitled rights holders to subscribe for up to an aggregate of 21,255,200 shares of the Fund's common stock, par value of $0.001 per share (each, a "Common Share"). The final subscription price of $13.30 per Common Share was determined based upon the formula equal to 98.5% of the net asset value as of October 21, 2026.
The Offer is expected to result in the issuance of approximately 3.3 million Common Shares (including Common Shares subscribed pursuant to notices of guaranteed delivery), resulting in anticipated proceeds to the Fund of approximately $43 million. The Fund will receive the entire proceeds of the Offer since BlackRock Advisors, LLC, the Fund's investment adviser, has agreed to pay all expenses related to the Offer. The Fund intends to invest the proceeds of the Offer in accordance with its investment objective and policies.
Shares issued pursuant to the Offer will not be entitled to receive any dividends or distributions with a record date prior to the Expiration Date.
The information in this press release is not complete and is subject to change. This document is not an offer to sell any securities and is not soliciting an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a prospectus. Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. The Fund's prospectus supplement and accompanying prospectus will contain this and additional information about the Fund and additional information about the Offer, and should be read carefully before investing.
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Availability of Fund Updates
BlackRock will update performance and certain other data for the Fund on a monthly basis on its website in the "Closed-end Funds" section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Fund. This reference to BlackRock's website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate BlackRock's website in this release.