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[SC TO-I/A] BlackRock Technology and Private Equity Term Trust Amended Issuer Tender Offer

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SC TO-I/A
Rhea-AI Filing Summary

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A) filed Amendment No. 1 to its issuer tender offer first launched on 9 June 2025. The fund confirms it will repurchase up to 50 % of its outstanding common shares for cash at a price equal to 99.5 % of net asset value (NAV) calculated on the first NAV-determination day after the 8 July 2025 expiration. The amendment’s sole purpose is to add a press release (Exhibit (a)(5)(ii)) that reports the preliminary tender results; all other terms in the original Offer to Purchase and Letter of Transmittal remain unchanged. Audited financial statements dated 31 December 2024 (Form N-CSR filed 7 March 2025) are incorporated by reference. No going-private transaction, Schedule 13D amendment, or other transaction type is involved. The filing also provides an updated filing-fee exhibit.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A) ha presentato l'Emendamento n. 1 alla sua offerta pubblica di acquisto lanciata inizialmente il 9 giugno 2025. Il fondo conferma che riacquisterà fino al 50% delle azioni ordinarie in circolazione in contanti ad un prezzo pari al 99,5% del valore patrimoniale netto (NAV), calcolato nel primo giorno di determinazione del NAV successivo alla scadenza dell'offerta, fissata per l'8 luglio 2025. Lo scopo esclusivo dell'emendamento è l'inserimento di un comunicato stampa (Allegato (a)(5)(ii)) che riporta i risultati preliminari dell'offerta; tutte le altre condizioni contenute nell'Offerta di Acquisto originale e nella Lettera di Trasmissione rimangono invariate. Sono incorporati per riferimento i bilanci certificati al 31 dicembre 2024 (Modulo N-CSR presentato il 7 marzo 2025). Non è coinvolta alcuna operazione di delisting, modifica del Schedule 13D o altri tipi di transazioni. La documentazione include inoltre un aggiornamento relativo alle spese di deposito.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A) presentó la Enmienda N° 1 a su oferta pública de adquisición inicialmente lanzada el 9 de junio de 2025. El fondo confirma que recomprará hasta el 50% de sus acciones comunes en circulación en efectivo a un precio equivalente al 99,5% del valor neto del activo (NAV), calculado el primer día de determinación del NAV posterior a la expiración del 8 de julio de 2025. El único propósito de la enmienda es añadir un comunicado de prensa (Anexo (a)(5)(ii)) que informa los resultados preliminares de la oferta; todos los demás términos en la Oferta de Compra original y en la Carta de Transmisión permanecen sin cambios. Se incorporan por referencia los estados financieros auditados al 31 de diciembre de 2024 (Formulario N-CSR presentado el 7 de marzo de 2025). No se trata de una operación de privatización, enmienda de Schedule 13D ni otro tipo de transacción. La presentación también incluye un anexo actualizado sobre las tarifas de presentación.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A)ëŠ� 2025ë…� 6ì›� 9ì� ì²˜ìŒ ì‹œìž‘ë� 발행ìž� 공개매수ì—� 대í•� 수정ì•� 1호를 제출했습니다. ì� 펀드는 만기ì¼ì¸ 2025ë…� 7ì›� 8ì� ì´í›„ ì²� NAV ì‚°ì •ì¼ì— 계산ë� 순ìžì‚°ê°€ì¹�(NAV)ì� 99.5% 가격으ë¡� 현금으로 발행 ì¤‘ì¸ ë³´í†µì£� 최대 50%ë¥� 재매입할 것임ì� 확ì¸í–ˆìŠµë‹ˆë‹¤. ì´ë²ˆ ìˆ˜ì •ì•ˆì˜ ìœ ì¼í•� 목ì ì€ 예비 공개매수 ê²°ê³¼ë¥� 보고하는 ë³´ë„ìžë£Œ(첨부문서 (a)(5)(ii))ë¥� 추가하는 것ì´ë©�, ì›ëž˜ì� 매수 제안ì„� ë°� ì†¡ë‹¬ì„œì˜ ë‹¤ë¥¸ ì¡°ê±´ì€ ë³€ê²½ë˜ì§€ 않았습니ë‹�. 2024ë…� 12ì›� 31ì¼ìž ê°ì‚¬ 재무제표(Form N-CSR, 2025ë…� 3ì›� 7ì� 제출)ê°€ 참조ë¡� í¬í•¨ë˜ì–´ 있습니다. 비ìƒìž� 전환 거래, Schedule 13D 수정 ë˜ëŠ” 기타 거래 ìœ í˜•ì€ í¬í•¨ë˜ì§€ 않습니다. 제출 서류ì—는 갱신ë� 제출 수수ë£� 첨부문서ë� í¬í•¨ë˜ì–´ 있습니다.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A) a déposé l'Amendement n°1 à son offre publique d'achat initialement lancée le 9 juin 2025. Le fonds confirme qu'il rachètera jusqu'à 50 % de ses actions ordinaires en circulation en espèces à un prix égal à 99,5 % de la valeur nette d'inventaire (VNI), calculé lors du premier jour de détermination de la VNI après l'expiration du 8 juillet 2025. L'unique but de cet amendement est d'ajouter un communiqué de presse (Annexe (a)(5)(ii)) qui rapporte les résultats préliminaires de l'offre ; toutes les autres conditions de l'Offre d'Achat originale et de la Lettre de Transmission restent inchangées. Les états financiers audités au 31 décembre 2024 (Formulaire N-CSR déposé le 7 mars 2025) sont incorporés par référence. Aucune opération de privatisation, amendement du Schedule 13D ou autre type de transaction n'est impliquée. Le dépôt comprend également un exposé mis à jour des frais de dépôt.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A) hat die Änderung Nr. 1 zu seinem am 9. Juni 2025 erstmals gestarteten öffentlichen Übernahmeangebot eingereicht. Der Fonds bestätigt, dass er bis zu 50 % seiner ausstehenden Stammaktien in bar zum Preis von 99,5 % des Nettoinventarwerts (NAV) zurückkaufen wird, berechnet am ersten NAV-Bestimmungstag nach Ablauf am 8. Juli 2025. Der alleinige Zweck der Änderung besteht darin, eine Pressemitteilung (Anlage (a)(5)(ii)) hinzuzufügen, die die vorläufigen Übernahmeergebnisse berichtet; alle anderen Bedingungen im ursprünglichen Kaufangebot und im Übertragungsformular bleiben unverändert. Die geprüften Jahresabschlüsse zum 31. Dezember 2024 (Formular N-CSR vom 7. März 2025 eingereicht) sind durch Verweis aufgenommen. Es handelt sich nicht um eine Privatisierungstransaktion, eine Änderung des Schedule 13D oder eine andere Transaktionsart. Die Einreichung enthält außerdem eine aktualisierte Gebührentabelle.

Positive
  • Repurchase of up to 50 % of outstanding shares gives shareholders the option to exit a large position in cash.
  • Pricing at 99.5 % of NAV allows holders to realize value very close to underlying net assets.
Negative
  • None.

Insights

TL;DR � 50 % buyback at 99.5 % NAV; only exhibit update, otherwise unchanged.

The amendment is process-oriented, adding a press release that discloses preliminary results of the sizeable issuer tender. Repurchasing half the shares at just a 0.5 % discount to NAV offers holders near-par liquidity and could shrink the fund materially, but this document does not quantify take-up or impact. No changes to pricing, conditions, or timing were introduced, so investors� evaluation hinges on the original terms already disclosed.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A) ha presentato l'Emendamento n. 1 alla sua offerta pubblica di acquisto lanciata inizialmente il 9 giugno 2025. Il fondo conferma che riacquisterà fino al 50% delle azioni ordinarie in circolazione in contanti ad un prezzo pari al 99,5% del valore patrimoniale netto (NAV), calcolato nel primo giorno di determinazione del NAV successivo alla scadenza dell'offerta, fissata per l'8 luglio 2025. Lo scopo esclusivo dell'emendamento è l'inserimento di un comunicato stampa (Allegato (a)(5)(ii)) che riporta i risultati preliminari dell'offerta; tutte le altre condizioni contenute nell'Offerta di Acquisto originale e nella Lettera di Trasmissione rimangono invariate. Sono incorporati per riferimento i bilanci certificati al 31 dicembre 2024 (Modulo N-CSR presentato il 7 marzo 2025). Non è coinvolta alcuna operazione di delisting, modifica del Schedule 13D o altri tipi di transazioni. La documentazione include inoltre un aggiornamento relativo alle spese di deposito.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A) presentó la Enmienda N° 1 a su oferta pública de adquisición inicialmente lanzada el 9 de junio de 2025. El fondo confirma que recomprará hasta el 50% de sus acciones comunes en circulación en efectivo a un precio equivalente al 99,5% del valor neto del activo (NAV), calculado el primer día de determinación del NAV posterior a la expiración del 8 de julio de 2025. El único propósito de la enmienda es añadir un comunicado de prensa (Anexo (a)(5)(ii)) que informa los resultados preliminares de la oferta; todos los demás términos en la Oferta de Compra original y en la Carta de Transmisión permanecen sin cambios. Se incorporan por referencia los estados financieros auditados al 31 de diciembre de 2024 (Formulario N-CSR presentado el 7 de marzo de 2025). No se trata de una operación de privatización, enmienda de Schedule 13D ni otro tipo de transacción. La presentación también incluye un anexo actualizado sobre las tarifas de presentación.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A)ëŠ� 2025ë…� 6ì›� 9ì� ì²˜ìŒ ì‹œìž‘ë� 발행ìž� 공개매수ì—� 대í•� 수정ì•� 1호를 제출했습니다. ì� 펀드는 만기ì¼ì¸ 2025ë…� 7ì›� 8ì� ì´í›„ ì²� NAV ì‚°ì •ì¼ì— 계산ë� 순ìžì‚°ê°€ì¹�(NAV)ì� 99.5% 가격으ë¡� 현금으로 발행 ì¤‘ì¸ ë³´í†µì£� 최대 50%ë¥� 재매입할 것임ì� 확ì¸í–ˆìŠµë‹ˆë‹¤. ì´ë²ˆ ìˆ˜ì •ì•ˆì˜ ìœ ì¼í•� 목ì ì€ 예비 공개매수 ê²°ê³¼ë¥� 보고하는 ë³´ë„ìžë£Œ(첨부문서 (a)(5)(ii))ë¥� 추가하는 것ì´ë©�, ì›ëž˜ì� 매수 제안ì„� ë°� ì†¡ë‹¬ì„œì˜ ë‹¤ë¥¸ ì¡°ê±´ì€ ë³€ê²½ë˜ì§€ 않았습니ë‹�. 2024ë…� 12ì›� 31ì¼ìž ê°ì‚¬ 재무제표(Form N-CSR, 2025ë…� 3ì›� 7ì� 제출)ê°€ 참조ë¡� í¬í•¨ë˜ì–´ 있습니다. 비ìƒìž� 전환 거래, Schedule 13D 수정 ë˜ëŠ” 기타 거래 ìœ í˜•ì€ í¬í•¨ë˜ì§€ 않습니다. 제출 서류ì—는 갱신ë� 제출 수수ë£� 첨부문서ë� í¬í•¨ë˜ì–´ 있습니다.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A) a déposé l'Amendement n°1 à son offre publique d'achat initialement lancée le 9 juin 2025. Le fonds confirme qu'il rachètera jusqu'à 50 % de ses actions ordinaires en circulation en espèces à un prix égal à 99,5 % de la valeur nette d'inventaire (VNI), calculé lors du premier jour de détermination de la VNI après l'expiration du 8 juillet 2025. L'unique but de cet amendement est d'ajouter un communiqué de presse (Annexe (a)(5)(ii)) qui rapporte les résultats préliminaires de l'offre ; toutes les autres conditions de l'Offre d'Achat originale et de la Lettre de Transmission restent inchangées. Les états financiers audités au 31 décembre 2024 (Formulaire N-CSR déposé le 7 mars 2025) sont incorporés par référence. Aucune opération de privatisation, amendement du Schedule 13D ou autre type de transaction n'est impliquée. Le dépôt comprend également un exposé mis à jour des frais de dépôt.

BlackRock Technology and Private Equity Term Trust (Schedule TO-I/A) hat die Änderung Nr. 1 zu seinem am 9. Juni 2025 erstmals gestarteten öffentlichen Übernahmeangebot eingereicht. Der Fonds bestätigt, dass er bis zu 50 % seiner ausstehenden Stammaktien in bar zum Preis von 99,5 % des Nettoinventarwerts (NAV) zurückkaufen wird, berechnet am ersten NAV-Bestimmungstag nach Ablauf am 8. Juli 2025. Der alleinige Zweck der Änderung besteht darin, eine Pressemitteilung (Anlage (a)(5)(ii)) hinzuzufügen, die die vorläufigen Übernahmeergebnisse berichtet; alle anderen Bedingungen im ursprünglichen Kaufangebot und im Übertragungsformular bleiben unverändert. Die geprüften Jahresabschlüsse zum 31. Dezember 2024 (Formular N-CSR vom 7. März 2025 eingereicht) sind durch Verweis aufgenommen. Es handelt sich nicht um eine Privatisierungstransaktion, eine Änderung des Schedule 13D oder eine andere Transaktionsart. Die Einreichung enthält außerdem eine aktualisierte Gebührentabelle.

 
 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE TO

TENDER OFFER STATEMENT

Under Section 14(d)(1) or 13(e)(1)

of the Securities Exchange Act of 1934

(Amendment No. 1)

 

 

BlackRock Technology and Private Equity Term Trust

(Name of Subject Company (Issuer))

BlackRock Technology and Private Equity Term Trust

(Names of Filing Person(s) (Issuer))

Common Shares of Beneficial Interest, Par Value $0.001 per share

(Title of Class of Securities)

09260Q108

(CUSIP Number of Class of Securities)

John M. Perlowski

BlackRock Technology and Private Equity Term Trust

50 Hudson Yards

New York, New York 10001

(800) 882-0052

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Filing Person(s))

 

 

Copies to:

 

Margery K. Neale, Esq.   Janey Ahn, Esq.
Elliot J. Gluck, Esq.   BlackRock Advisors, LLC
Willkie Farr & Gallagher LLP   50 Hudson Yards
787 Seventh Avenue   New York, New York 10001
New York, New York 10019  

June 9, 2025

(Date Tender Offer First Published, Sent or Given to Security Holders)

 

 

 

Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which this statement relates:

 

 

third-party tender offer subject to Rule 14d-1.

 

issuer tender offer subject to Rule 13e-4.

 

going-private transaction subject to Rule 13e-3.

 

amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer. ☐

 

 
 


This Amendment No. 1 (“Amendment No. 1”) amends and supplements the Issuer Tender Offer Statement on Schedule TO filed on June 9, 2025 (the “Schedule TO”) by BlackRock Technology and Private Equity Term Trust, a Maryland statutory trust (the “Fund”), pursuant to Rule 13e-4 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), in connection with an offer by the Fund (the “Offer”) to repurchase 50% of its issued and outstanding common shares of beneficial interest, par value $0.001 per share (the “Shares”), in exchange for cash at a price equal to 99.5% of the net asset value (“NAV”) per Share determined as of the close of the regular trading session of the New York Stock Exchange, the principal market on which the Shares are traded, on the next day the NAV is calculated after the Offer expires, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 9, 2025 (the “Offer to Purchase”), and in the related Letter of Transmittal, copies of which were previously filed as Exhibits (a)(1)(i) and (a)(1)(ii), respectively, to the Schedule TO.

This Amendment No. 1 is being filed to update Item 12 of the Schedule TO to include a press release announcing the preliminary results of the Offer, which expired on July 8, 2025, at 11:59 p.m. Eastern time. A copy of the press release is attached hereto as Exhibit (a)(5)(ii).

Except as specifically provided herein, the information contained in the Schedule TO, the Offer to Purchase and the Letter of Transmittal remains unchanged, and this Amendment No. 1 does not modify any of the information previously reported in the Schedule TO, the Offer to Purchase or the Letter of Transmittal.

Item 1 through Item 9 and Item 11

The information set forth in the Offer to Purchase and the related Letter of Transmittal is incorporated by reference into this Amendment No. 1 in answer to Item 1 through Item 9 and Item 11 of the Schedule TO.

 

Item 10.

Financial Statements

(a) The audited annual financial statements of the Fund dated December 31, 2024 and the schedule of investments of the Fund dated December 31, 2024, both filed with the SEC on EDGAR on Form N-CSR on March 7, 2025, are incorporated by reference.

(b) Not applicable.

 

Item 12(a).

Exhibits

Item 12(a) of the Schedule TO is hereby amended and supplemented to add the following exhibit:

(a)(5)(ii)   Press release issued on July 9, 2025 is filed herewith.

 

Item 12(c).

Filing Fees

Filing Fee Exhibit is filed herewith.

 

Item 13.

Information Required By Schedule 13E-3

Not applicable.

 

- 2 -


SIGNATURE

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

BlackRock Technology and Private Equity Term Trust
By:  

/s/ John M. Perlowski

  Name: John M. Perlowski
  Title: President and Chief Executive Officer
  Dated: July 9, 2025

 

- 3 -


Exhibit Index

 

Exhibit
Number
 

Description

(a)(5)(ii)   Press release issued on July 9, 2025
  Filing Fee Exhibit

 

- 4 -

FAQ

What percentage of shares will BlackRock Technology and Private Equity Term Trust repurchase?

The offer covers up to 50 % of the fund’s issued and outstanding common shares.

At what price are BTX shares being bought in the tender offer?

Shares will be repurchased for cash at 99.5 % of NAV calculated after the offer expires.

When did the tender offer expire?

The offer expired on 8 July 2025 at 11:59 p.m. ET.

What was added in Amendment No. 1 to the Schedule TO-I/A?

Amendment No. 1 adds a press release dated 9 July 2025 reporting the preliminary tender results.

Are any financial statements included with this amendment?

Yes. The audited financials dated 31 December 2024 (filed 7 March 2025 on Form N-CSR) are incorporated by reference.
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