Company: BSTZ
Filing Date: 2025-03-07
Form Type: N-CSR
Source: 0001193125-25-049659
Chunk: 88

Company: BlackRock Science & Technology Term Trust
Filing Date: 2025-03-07
Form: N-CSR
Chunk 88
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generated from foreign tax credits claimed by Trust shareholders on their tax returns in prior years. The Trust has accrued a liability for the estimated IRS compliance fee related to foreign withholding tax claims, which is disclosed in the Statements of Assets and Liabilities. The actual IRS compliance fee may differ from the estimate and that difference may be material. 12. SUBSEQUENT EVENTS Management’s evaluation of the impact of all subsequent events on the Trusts ’ financial statements was completed through the date the financial statements were issued and the following items were noted: On January 20, 2025, the Board approved certain strategy changes to BIGZ. The Trust will adopt a new non-fundamental investment policy to invest, under normal market conditions, at least 80% of its total assets in a combination of equity securities issued by U.S. and non-U.S. technology and privately held companies. In connection with the 80% policy change, the Board approved changing the Trust’s name to BlackRock Technology and Private Equity Term Trust. In addition, the Trust will change its ticker symbol to BTX. These changes become effective on February 20, 2025. Additionally, a special meeting of shareholders will be held in the second quarter of 2025 to seek shareholder approval to amend the Trust’s fundamental investment restriction with respect to industry concentration to allow the Trust to concentrate its investments in one or more industries and to change its diversification status from diversified to non-diversified. On January 20, 2025, the Board also approved a tender offer to repurchase 50% of BIGZ’s outstanding shares and 40% of BMEZ’s outstanding shares, at a price per share equal to 99.5% of the applicable Trust’s net asset value per common share determined following the expiration of the tender offer. In connection with the approval of these tender offers, the discount management program has been terminated for each of BIGZ and BMEZ and the respective tender offers for the quarterly measurement period ended December 31, 2024 have been cancelled. BIGZ has capital loss carryforwards (and unrealized built-in losses) for U.S. federal income tax purposes. Applicable federal tax law contains rules that impose limitations on the use of capital loss carryforwards and unrealized built-in losses by regulated investment companies (“RICs”) such as BIGZ that undergo an ownership change. The upcoming tender offer and other shareholder transactions could result in an ownership change and a material limitation on the use of the capital loss carryforwards