BCAT Rights Offering: 5 Rights Buy 1 Share at Up to 1.5% Discount to NAV
BCAT is trading near its 52-week low of $13.73 (15% above the low).
Summary
BlackRock Capital Allocation Term Trust (BCAT) announced the full terms of its transferable rights offering. Record date shareholders as of September 25, 2026 will receive one right per share, with five rights required to purchase one new share. The subscription price will be set at 95% of the average of the last reported sales price on the expiration date and the four preceding trading days, subject to a maximum of $0.01 below NAV and a minimum of 98.5% of NAV. The offering expires October 21, 2026, and rights are expected to trade on the NYSE under the symbol 'BCAT RT' until October 20, 2026. The fund is maintaining its current distribution level through the remainder of 2026, and the adviser will bear all offering expenses. The offering is dilutive to existing shareholders who do not participate, but the discount to NAV is modest and the fund is trading near its 52-week high, suggesting investor demand may be strong.
At the time of this announcement, BCAT was trading at $15.75 on NYSE in the Finance sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $13.73 to $16.20. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.