BMEZ Launches Tender Offer for 5% of Shares at 98% of NAV, Expires Nov 18

summarizeSummary

BlackRock Health Sciences Term Trust began its previously announced tender offer to repurchase up to 5% of its shares at 98% of NAV, roughly $56.4 million at October 9 figures, expiring November 18, 2026.

check_boxKey Events · Financing and Capital Events · BMEZ

• Tender Offer for 5% of Shares Commences

  The Fund is offering to repurchase up to 5% of its 62,501,404 shares outstanding as of October 9, 2026, at 98% of NAV per share, with purchases prorated if oversubscribed.

• Estimated Cost About $56.4 Million

  At $18.05 per share (98% of the $18.42 NAV on October 9, 2026), buying 3,125,070 shares would cost approximately $56.4 million, funded first from cash on hand and then from portfolio security sales; no borrowing is planned.

• Triggered by Discount Wider Than 10%

  The offer follows the October 1, 2026 announcement that shares traded at an average daily discount to NAV greater than 10% during the nine months ended September 30, 2026, activating the discount management program renewed November 14, 2025.

• Offer Expires November 18, 2026

  Tenders must be received by 5:00 p.m. Eastern time on November 18, 2026; the purchase price is set at 98% of NAV on the next day NAV is calculated after expiration, with payment expected within about five business days.

auto_awesomeAnalysis · BMEZ · Unknown

The Fund is following through on the discount-management program it announced October 1, 2026: because its shares traded at an average discount to NAV wider than 10% over the nine months ended September 30, it is now buying back up to 5% of its shares at 98% of NAV. At the October 9 reference figures, that is roughly 3.13 million shares for about $56.4 million, funded from cash and portfolio sales rather than borrowing. The 2% haircut to NAV is the cost of getting out at a price above the market — the shares last traded at $16.52 versus an $18.42 NAV, so tendering holders capture most of the discount. The trade-off is that non-tendering holders are left with a smaller asset base, proportionately higher expenses and the capital gains the Fund may realize selling securities to raise the cash. The offer expires November 18, 2026, and is subject to proration if oversubscribed.