BlackRock announced that its Health Sciences Term Trust, ticker BMEZ, will conduct a tender offer for up to 5% of its outstanding common shares after its average daily discount to net asset value exceeded the 10.00% threshold during the 9-month measurement period ended September 30, 2026. BMEZ posted an average daily discount of 11.05%, the only fund among the 19 BlackRock closed-end funds in the discount management programs to trigger a repurchase obligation; the remaining funds will not conduct tender offers. The tender offer is scheduled to commence on Friday, October 16, 2026, and expire on Wednesday, November 18, 2026, at 5:00 p.m. Eastern Time, unless extended. Shares will be repurchased at a price equal to 98% of the fund's NAV per share as determined after the offer expires, and if more than 5% of shares are tendered, purchases will be made on a pro rata basis. Payments for shares tendered and accepted are expected within approximately five business days after the expiration date.
BlackRock IncBlackRock's BMEZ closed-end fund triggers a 5% tender offer after its discount exceeded the 10% threshold; a routine fund-level buyback with no clear directional read for BlackRock Inc.
