Market Newsdesk

April 1, 2025 8:43 pm

CLIK Announces Pricing of $8.28 Million Public Offering of Ordinary Shares

Hong Kong, April 01, 2025 (GLOBE NEWSWIRE) — Click Holdings Limited (NASDAQ: CLIK) (“Click” or the “Company”), a provider of human resources (“HR”) solutions in Hong Kong specializing in Seniors Nursing Care, Logistics, and Professional HR services, today announced the pricing of its public offering of 13,800,000 ordinary shares at a public offering price of $0.6 per ordinary share.

Gross proceeds, before deducting placement agent fees and other offering expenses, are expected to be approximately $8.28 million. The offering is expected to close on April 2, 2025, subject to customary closing conditions.

Pacific Century Securities LLC and Revere Securities LLC acted as co-placement agents in connection with this offering.

The securities described above were offered pursuant to a registration statement on Form F-1, as amended (File No. 333-285922) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (the “SEC”) on March 31, 2025. The offering was being made only by means of a prospectus which is a part of the Registration Statement. A final prospectus relating to the offering will be filed with the SEC. Copies may be obtained from Pacific Century Securities LLC, 60-20 Woodside Avenue Ste 211Queens, NY 11377 (+1)212-970-8868 and from Revere Securities LLC, 560 Lexington Ave 16th floor, New York, NY 10022, at +1 (212) 688-2350.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Click Holdings Limited

Click Holdings Limited is a holding company incorporated in the British Virgin Islands, and all of its operations are carried out by its operating subsidiaries in Hong Kong, JFY Corporate Services Company Limited and Click Services Limited. The Company is a human resources solutions provider, specializing in offering comprehensive human resources solutions in three principal sectors, namely (i) professional solution services, (ii) nursing solution services, and (iii) logistics and other solution services. The Company provides services to a broad range of customers including Certified Public Accountant firms, charitable organizations, non-governmental organizations, small and medium-sized businesses and Hong Kong listed companies.

Safe Harbor Statement

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to satisfy the closing conditions related to the offering, our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.

Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

For enquiry, please contact:

Click Holdings Limited

Unit 709, 7/F., Ocean Centre
5 Canton Road
Tsim Sha Tsui, Kowloon
Hong Kong
Email: [email protected]
Phone: +852 2691 8900

April 1, 2025 8:03 pm

Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Quantum Computing Inc. (QUBT)

NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Quantum Computing Inc. (“Quantum Computing” or the “Company”) (NASDAQ: QUBT) securities between March 30, 2020 and January 15, 2025, inclusive (the “Class Period”).

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) defendants overstated the capabilities of Quantum Computing’s quantum computing technologies, products, and/or services; (ii) defendants overstated the scope and nature of Quantum Computing’s relationship with the National Aeronautics and Space Administration (“NASA”), as well as the scope and nature of Quantum Computing’s NASA-related contracts and/or subcontracts; (iii) defendants overstated Quantum Computing’s progress in developing a thin film lithium niobate (“TFLN”) foundry, the scale of the purported TFLN foundry, and orders for Quantum Computing’s TFLN chips; (iv) Quantum Computing’s business dealings with Quad M Solutions, Inc. and millionways, Inc. both qualified as related party transactions; (v) accordingly, Quantum Computing’s revenues relied, at least in part, on undisclosed related party transactions; and (vi) all the above, once revealed, was likely to have a significant negative impact on Quantum Computing’s business and reputation.

The Complaint further alleges that on December 9, 2024, Iceberg Research published a report alleging, among other things, that Quantum Computing “ha[d] shared photos online of what it claims to be its foundry,” “this setup looks more like a laboratory,” and “is a far cry from a foundry ready for ‘mass production’ on what [Quantum Computing] said would be ‘five acres within the extensive 320-acre research park hosted by ASU.’” On this news, the price of Quantum Computing stock fell nearly 6%.

Then, on January 16, 2025, Capybara Research published a report alleging, among other things, that Quantum Computing “is a rampant fraud”; that, “[f]rom inception, [Quantum Computing] has defrauded investors by fabricating revenue, misrepresenting their products, and issuing a steady stream of false press releases”; and that “[t]o conceal their fraud, [Quantum Computing] even included a clause in employee separation agreements prohibiting them from talking to the SEC.” On this news, the price of Quantum Computing stock fell nearly 15% over two trading sessions.

Investors who purchased or otherwise acquired shares of Quantum Computing should contact the Firm prior to the April 16, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.

April 1, 2025 8:03 pm

Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Skyworks Solutions, Inc. (SWKS)

NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased the securities of Skyworks Solutions, Inc. (“Skyworks” or the “Company”) (NASDAQ: SWKS) between July 30, 2024 and February 5, 2025, both dates inclusive (the “Class Period”).

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and prospects. The Complaint alleges that Defendants created the false impression that they possessed reliable information pertaining to the Company’s projected revenue outlook and anticipated growth while also minimizing risk from smartphone upgrade cycles and macroeconomic fluctuations. The Complaint further alleges that in truth, Skyworks’ optimistic reports of growth, earnings potential, and anticipated margins fell short of reality as they relied far too heavily on the Company’s partnership with its largest customer and launch of that customer’s newest phone. The Complaint alleges that Skyworks was simply not equipped to execute on their perceived growth potential.

According to the Complaint, on February 5, 2025, after market close, Skyworks issued a press release announcing the results of its first quarter fiscal year 2025, which included guidance for the second quarter 2025. The Complaint further alleges that aforementioned press releases and statements made by the Individual Defendants are in direct contrast to statements they made during the July 30 and November 12, 2024 earnings and shareholder calls. The Complaint alleges that on those calls, Defendants continually praised their alleged growth, foreseeing growth in the Company’s mobile business segment and touting an increase in technology investments and diversification, such as Skyworks’ position in AI in the smartphone cycle, while continually minimizing the risks associated with Skyworks’ dependence on its partnerships with customers. The Complaint alleges that in particular, Skyworks failed to provide adequate warnings to investors regarding the Company’s dependence on its largest customer, including the impact on the Company when this customer did not launch its newest phone with Skyworks, as well as those associated with seasonality and the potential impact of the macroeconomic environment on the Company’s profitability for years to come.

The Complaint alleges that, investors and analysts reacted immediately to Skyworks’ revelation. The Complaint further alleges that the price of Skyworks’ common stock declined dramatically from a closing market price of $87.08 per share on February 5, 2025, Skyworks’ stock price fell to $65.60 per share on February 6, 2025, a decline of over 24% in the span of just a single day.

Investors who purchased or otherwise acquired shares of Skyworks should contact the Firm prior to the May 5, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.

April 1, 2025 7:58 pm

Portsmouth Square Completes Strategic Refinancing of Hilton San Francisco Financial District Hotel

SAN FRANCISCO, CA, April 01, 2025 (GLOBE NEWSWIRE) — Portsmouth Square, Inc. (OTC: PRSI) (“Portsmouth Square” or “the Company”) today announced the successful refinancing of its flagship asset, the Hilton San Francisco Financial District Hotel. This strategic refinancing positions the Company for improved financial flexibility and stability in managing its premier hospitality asset.

The refinancing was executed through Justice Operating Company, LLC (“Justice”), a wholly owned subsidiary of Portsmouth Square. Justice secured a $67 million mortgage loan agreement with PRIME Finance, arranged by Eastdil Secured, LLC a leading global real estate investment banking firm. The loan carries a floating interest rate equal to the 30-day Secured Overnight Financing Rate (SOFR) plus 4.80%, and to proactively manage interest rate risk, Justice has secured an interest rate cap, limiting SOFR exposure to a maximum rate of 4.50%.

In addition, Justice Mezzanine Company, LLC another subsidiary of Portsmouth Square, has modified its existing mezzanine loan with CRED REIT Holdco LLC, obtaining a principal amount of $36.3 million at a fixed interest rate of 7.25% per annum. Both loans mature in two years, with options to extend for three additional one-year periods, providing added flexibility.

“This refinancing is a significant step in our strategic financial management, ensuring favorable terms and financial stability,” said David Gonzalez, President of Portsmouth Square. “Securing this agreement highlights our commitment to prudent financial stewardship and positions us well for continued growth and long-term value creation.”

Further details of the refinancing transactions will be available in the Company’s forthcoming periodic report filings with the Securities and Exchange Commission (SEC).

ABOUT PORTSMOUTH SQUARE, INC.

Portsmouth Square, Inc. is a California corporation, incorporated in 1967. Portsmouth is a public company and is a consolidated subsidiary of The InterGroup Corporation (NASDAQ: INTG). Portsmouth’s principal business is conducted through its ownership of the Hilton San Francisco Financial District, a 544-room hotel located at 750 Kearny Street, San Francisco, CA 94108, including a five-level underground parking garage.

Contact:
David Gonzalez, President
(310)889-2559

April 1, 2025 7:51 pm

The InterGroup Corporation Announces Strategic Refinancing of Hilton San Francisco Financial District Hotel

SAN FRANCISCO, CA, April 01, 2025 (GLOBE NEWSWIRE) — The InterGroup Corporation (NASDAQ: INTG) (“InterGroup” or “the Company”), the parent company of Portsmouth Square, Inc. (OTC: PRSI) (“Portsmouth Square”), today announced the successful refinancing of its subsidiary’s flagship asset, the Hilton San Francisco Financial District Hotel. This strategic refinancing positions the Company and its subsidiaries for improved financial flexibility and stability in managing their premier hospitality assets.

The refinancing was executed through Justice Operating Company, LLC (“Justice”), a wholly owned subsidiary of Portsmouth Square. Justice secured a $67 million mortgage loan agreement with PRIME Finance, arranged by Eastdil Secured, a leading global real estate investment banking firm. The loan carries an interest rate equal to the 30-day Secured Overnight Financing Rate (SOFR) plus 4.80%, and to proactively manage interest rate risk, Justice has secured an interest rate cap, limiting SOFR exposure to a maximum rate of 4.50%.

“This refinancing underscores InterGroup’s ongoing commitment to strategic financial management, enhancing financial stability and operational flexibility across our companies,” said David Gonzalez, Chief Operating Officer of InterGroup. “Securing these agreements demonstrates our dedication to prudent financial stewardship and positions us favorably for continued growth and long-term value creation.”

Further details of the refinancing transactions will be available in the Company’s forthcoming periodic report filings with the Securities and Exchange Commission (SEC).

ABOUT THE INTERGROUP CORPORATION

The InterGroup Corporation is a Delaware corporation formed in 1985, as a successor to Mutual Real Estate Investment Trust, a New York real estate investment trust created in 1965. The Company has been a publicly-held company since M-REIT’s first public offering of shares in 1966 and currently trades on the NASDAQ Capital Market.

Contact:
David Gonzalez, COO
(310) 889-2559

April 1, 2025 7:29 pm

SmartStop Self Storage REIT Announces Pricing of Underwritten Public Offering

SmartStop Self Storage REIT Announces Pricing of Underwritten Public Offering

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), an internally-managed real estate investment trust and a premier owner and operator of self storage facilities in the United States and Canada, announced today the pricing of its public offering of 27,000,000 shares of common stock at a price to the public of $30.00 per share.

SmartStop has granted the underwriters a 30-day option to purchase up to an additional 4,050,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.

Shares of SmartStop’s common stock are expected to begin trading on April 2, 2025 on the New York Stock Exchange under the ticker symbol “SMA,” and the closing of the offering is expected to occur on April 3, 2025, subject to the satisfaction of customary closing conditions.

SmartStop intends to use the net proceeds from the offering to redeem 100% of its issued and outstanding Series A Preferred Stock, pay down existing debt under its credit facility, repay an acquisition facility, fund external growth with property acquisitions, and fund other general corporate uses.

J.P. Morgan, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets and Truist Securities are acting as joint book-running managers for the offering. Baird, Stifel, National Bank of Canada Financial Markets, Raymond James and Scotiabank are acting as bookrunners for the offering. BTIG, M&T Securities and Fifth Third Securities are acting as co-managers for the offering.

A registration statement on Form S-11 (File No. 333-264449) relating to these securities was declared effective by the Securities and Exchange Commission on April 1, 2025. The offering is being made only by means of a prospectus. Once available, copies of the final prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] and [email protected]; Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at (800) 645-3751 (option #5) or email a request to [email protected]; KeyBanc Capital Markets, Attention: Equity Syndicate, 127 Public Square, 7th Floor, Cleveland, OH 44114 or by fax at 1.216.689.0845; BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036 or by email at [email protected]; or Truist Securities, Inc., Attention: Equity Capital Markets, 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326 at (800) 685-4786 or by email to [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 560 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of December 31, 2024, SmartStop has an owned or managed portfolio of 208 operating properties in 22 states, the District of Columbia, and Canada, comprising approximately 148,000 units and 16.7 million rentable square feet. SmartStop and its affiliates own or manage 38 operating self-storage properties in Canada, which total approximately 33,000 units and 3.4 million rentable square feet.

Forward-Looking Statements

Certain statements contained in this press release, including statements relating to the Company’s expectations regarding the completion, timing and size of its proposed public offering and listing as well as the expected use of proceeds of the offering may constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on management’s current expectations and are inherently subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. These risks and uncertainties include, but are not limited to, risks and uncertainties associated with the consummation of the offering and other risks described in SmartStop’s registration statement on Form S-11, as it may be amended from time to time. Except as required by law, SmartStop expressly disclaims a duty to provide updates to forward-looking statements, whether as a result of new information, future events or other occurrences.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250401225980/en/

David Corak

SVP of Corporate Finance & Strategy

SmartStop Self Storage REIT, Inc.

[email protected]

KEYWORDS: United States North America Canada California

INDUSTRY KEYWORDS: REIT Other Retail Retail Commercial Building & Real Estate Construction & Property

MEDIA:

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April 1, 2025 7:28 pm

COSCIENS Biopharma Inc. Announces Receipt of Management Cease Trade Order

TORONTO, ONTARIO, April 01, 2025 (GLOBE NEWSWIRE) — COSCIENS Biopharma Inc. (NASDAQ: CSCI) (TSX: CSCI) (“COSCIENS” or the “Company”), a life science company which develops and commercializes a diversified portfolio of cosmeceutical, nutraceutical and pharmaceutical products, today announces further to its news release of March 19, 2025 (the “Default Announcement”) that its application to the Ontario Securities Commission (the “OSC”) for a management cease trade order (“MCTO”), in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), has been accepted by the OSC.

The MCTO was issued by the OSC, effective as of April 1, 2025, in connection with the Company’s potential delay in its filing of: (a) its annual financial statements as of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022, and its related management’s discussion and analysis (collectively, the “Financial Statements”); (b) the CEO and CFO certificates relating to the Financial Statements; and (c) the Company’s annual information form (in the form of an annual report on Form 20-F) (collectively, the “Required Filings”) beyond the prescribed filing deadline, being March 31, 2025 (the “Required Deadline”).

The Company confirms that it was unable to file the Required Filings by the Required Deadline for the reasons described in the Default Announcement. However, the Company continues to work diligently with its auditors to complete the Required Filings as soon as practicable, and expects to file the Required Filings as soon as they are available and by April 7, 2025.

The Company will issue a news release once the Required Filings have been filed. Until the Company files the Required Filings, it will comply with the alternative information guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases (which will be filed on SEDAR+) for so long as it remains in default of its obligation to file the Required Filings.

The MCTO restricts all trading in and all acquisitions of securities of the Company, whether direct or indirect, by its Chief Executive Officer and Chief Financial Officer until such time as the Required Filings have been filed by the Company and the MCTO has been revoked. The MCTO does not affect the ability of shareholders who are not insiders of the Company to trade their securities.

The MCTO and delay in filing will have no immediate effect on the listing of the Company’s common shares on the Nasdaq Capital Market. The Company plans to file its Form 20-F as soon as practicable; however, no assurance can be given as to the definitive date on which such report will be filed.

The Company confirms as of the date of this news release that there has been no material change in the information contained in the Default Announcement, and that there is no other material information concerning the affairs of the Company that has not been generally disclosed.

About COSCIENS Biopharma Inc.

COSCIENS is a life science company resulting from the merger of Aeterna Zentaris and Ceapro Inc. COSCIENS develops and commercializes a diversified portfolio of cosmeceutical, nutraceutical and pharmaceutical products. We are focused on leveraging our proprietary extraction technology, which is applied to the production of active ingredients from renewable plant resources currently used in cosmeceutical products (i.e., oat beta glucan and avenanthramides which are found in leading skincare product brands like Aveeno and Burt’s Bees formulations) and being developed as potential nutraceuticals and/or pharmaceuticals.

The Company is listed on the Nasdaq Capital Market and the Toronto Stock Exchange, and trades on both exchanges under the ticker symbol “CSCI”. For more information, please visit COSCIENS’ website at www.cosciensbio.com.

Forward-Looking Statements

Certain statements in this news release, referred to herein as “forward-looking statements”, constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, as amended, and “forward-looking information” under the provisions of Canadian securities laws. All statements, other than statements of historical fact, that address circumstances, events, activities, or developments that could or may or will occur are forward-looking statements. When used in this news release, words such as “anticipate”, “assume”, “believe”, “could”, “expect”, “forecast”, “future”, “goal”, “guidance”, “intend”, “likely”, “may”, “would” or the negative or comparable terminology as well as terms usually used in the future and the conditional are generally intended to identify forward-looking statements, although not all forward-looking statements include such words. Forward-looking statements in this news release include, but are not limited to, statements relating to: the filing of the Required Filings, including the satisfactory resolution of issues that have led to the delay in filing the Required Filings, as well as the revocation of the MCTO; the Company’s compliance with the alternative information guidelines of NP 12-203; the potential effects of the delay in filing on trading of the Company’s securities on the Nasdaq Capital Market; and the Company’s timing for filing of a Form 20-F.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic, operational and other risks, uncertainties, contingencies and other factors, including those described below, which could cause actual results, performance or achievements of the combined Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements and, as such, undue reliance must not be placed on them.

Forward-looking statements involve known and unknown risks and uncertainties which include, among others: the combined Company’s present and future business strategies; operations and performance within expected ranges; anticipated future cash flows; local and global economic conditions and the environment in which the combined Company operates; anticipated capital and operating costs; uncertainty in our revenue generation from our marketed products, product development and related clinical trials and validation studies; results from our avenanthramide product and other products under development may not be successful or may not support advancing the product; the failure of the DETECT-trial to achieve its primary endpoint in CGHD may impact the market for macimorelin (Macrilen^®; Ghryvelin^®) in AGHD and the existing relationships we have for that product; ability to raise capital and obtain financing to continue our currently planned operations; our now heavy dependence on sales by and revenue from our main distributor of our legacy Ceapro products and its customers, the continued availability of funds and resources to successfully commercialize our products; the ability to secure strategic partners for late stage development, marketing, and distribution of our products; our ability to enter into out-licensing, development, manufacturing, marketing and distribution agreements with other pharmaceutical companies and keep such agreements in effect; our ability to protect and enforce our patent portfolio and intellectual property; and our ability to continue to list our common shares on the Nasdaq Capital Market.

Issuer:

Gilles R. Gagnon
President & CEO
+1 (780) 421-4555
E: [email protected]

Investor Contact:
Jenene Thomas
JTC TeamT (US): +1 (908) 824-0775
E: [email protected]

April 1, 2025 7:03 pm

Enterprise to Participate in Investor Conference

Enterprise to Participate in Investor Conference

HOUSTON–(BUSINESS WIRE)–
Enterprise Products Partners L.P. (NYSE: EPD) announced today that it will participate in the U.S. Capital Advisors Midstream Corporate Access Day on Wednesday, April 2, 2025, in Houston, Texas.

The latest investor deck, which includes the partnership’s updated Fundamentals outlook and may be used to facilitate upcoming investor meetings, can be accessed under the Investors tab on the Enterprise website.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage and marine terminals; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets currently include more than 50,000 miles of pipelines; over 300 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250401030732/en/

Libby Strait, Investor Relations, (713) 381-4754, [email protected]

Rick Rainey, Media Relations, (713) 381-3635, [email protected]

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Energy Other Energy Oil/Gas

MEDIA:

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April 1, 2025 7:00 pm

Certain BlackRock Closed-End Funds Announce Tender Offer in Conjunction with Results of the Quarterly Measurement Period of their Discount Management Programs

Certain BlackRock Closed-End Funds Announce Tender Offer in Conjunction with Results of the Quarterly Measurement Period of their Discount Management Programs

NEW YORK–(BUSINESS WIRE)–
The BlackRock closed-end funds (the “Funds”) listed below announced today the results of the Quarterly Measurement Period (as defined below) under their previously announced discount management programs (the “Programs”). Funds with a Trigger Event (as defined below) at the end of the Quarterly Measurement Period also announced the dates of tender offers. The Programs are part of the Funds’ ongoing efforts to manage discounts and enhance long-term shareholder value and provide liquidity to the market for their common shareholders. There can be no assurances as to the effect that a Program will have on the market for a Fund’s shares or the discount at which a Fund’s shares may trade relative to its NAV.

As previously announced, under the Programs, each Fund intends to offer to repurchase a portion of its outstanding common shares based on 3-month measurement periods (each a “Measurement Period”) if the Fund’s common shares trade at an average daily discount to net asset value (“NAV”) of greater than 7.50% during a Measurement Period (a “Trigger Event”). The Funds’ Measurement Period commenced on January 1, 2025 and ended on March 31, 2025 (the “Quarterly Measurement Period”). The average daily discount to NAV for each of the Funds during the Quarterly Measurement Period is summarized below.

This is the final Quarterly Measurement Period for the funds below (excluding MVF). As announced on February 28, 2025, the annual Discount Management Program is still in effect.

Press Release:Certain BlackRock Closed-End Funds Announce Renewal of Discount Management Programs.

Quarterly Measurement Period Discount Results for the Funds in the Program
Fund Name	Ticker	Average Daily Discount for the Measurement Period ended March 31, 2025
BlackRock Capital Allocation Term Trust	BCAT	-5.77%
BlackRock ESG Capital Allocation Term Trust	ECAT	-4.41%
BlackRock Science and Technology Term Trust	BSTZ	-8.50%
BlackRock Enhanced Global Dividend Trust	BOE	-9.12%
BlackRock Energy and Resources Trust	BGR	-5.73%
BlackRock Enhanced International Dividend Trust	BGY	-8.66%
BlackRock Enhanced Large Cap Core Fund, Inc.	CII	-6.73%
BlackRock Enhanced Equity Dividend Trust	BDJ	-5.42%
BlackRock Science and Technology Trust	BST	-5.15%
BlackRock Health Sciences Trust	BME	-6.82%
BlackRock Resources & Commodities Strategy Trust	BCX	-8.92%
BlackRock MuniVest Fund, Inc.	MVF	-7.54%
BlackRock Utilities, Infrastructure, & Power Opportunities Trust	BUI	0.25%

The Funds’ Boards of Directors/Trustees (the “Boards”) determined that if a Trigger Event occurred during the Quarterly Measurement Period with respect to a Fund, the Fund would offer to repurchase a portion of its outstanding common shares by conducting a tender offer for 2.5% of its outstanding common shares at a price equal to 98% of the Fund’s NAV per share as determined as of the close of the regular trading session of the New York Stock Exchange (“NYSE”) on the next day the NAV is calculated after the expiration date of the tender offer or, if the offer is extended, on the next day the NAV is calculated after the day to which the offer is extended. As a result of the occurrence of a Trigger Event during the Quarterly Measurement Period with respect to each of the following Funds, the Board of each such Fund has authorized the Fund’s tender offer with the anticipated commencement and expiration dates outlined below.

Event

BOE, BCX

BGY, BSTZ, MVF

Tender Offer Commencement Date

Wednesday,

April 16, 2025

Thursday,

April 17, 2025

Tender Offer Expiration Date and Time

Monday, May 19, 2025 at 5:00 p.m. Eastern Time, unless otherwise extended

Tuesday, May 20, 2025 at 5:00 p.m. Eastern Time, unless otherwise extended

If more than 2.5% of a Fund’s outstanding common shares are tendered, the Fund will purchase its shares from tendering shareholders on a pro rata basis at a price equal to 98% of the Fund’s NAV per share as determined as of the close of the regular trading session of the NYSE on the next day the NAV is calculated after the expiration date of the tender offer (or, if the offer is extended, on the next day the NAV is calculated after the day to which the offer is extended). Accordingly, there is no assurance that a Fund will purchase all of a shareholder’s common shares tendered in the tender offer. Payments for shares tendered and accepted are expected to be made within approximately five business days after the expiration date.

The terms and conditions of each Fund’s tender offer will be set forth in an Offer to Purchase, a related Letter of Transmittal, and related documents, which will be distributed to the respective Fund’s common shareholders. As soon as its tender offer commences, each Fund will file a Tender Offer Statement on Schedule TO with the U.S. Securities and Exchange Commission (the “SEC”), which will include an Offer to Purchase and related Letter of Transmittal.

IMPORTANT NOTICE

This press release is for informational purposes only and is not a recommendation, an offer to purchase or a solicitation of an offer to sell any securities of the Funds and the above statements are not intended to constitute an offer to participate in any tender offer. Any offer to purchase Fund common shares will be made pursuant to an offer on Schedule TO. COMMON SHAREHOLDERS ARE URGED TO READ THE TENDER OFFER MATERIALS, INCLUDING THE OFFER TO PURCHASE AND ANY SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE TENDER OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, WHEN THEY ARE FILED AND BECOME AVAILABLE, BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF COMMON SHARES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES. Common shareholders may obtain a free copy of any of these statements and other documents filed with the SEC at the website maintained by the SEC at www.sec.gov or by directing such requests to the applicable Fund.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.

Availability of Fund Updates

BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Funds’ or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Funds’ net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC’s website at www.sec.govand on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250401110264/en/

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April 1, 2025 6:58 pm

Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds

Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds

NEW YORK–(BUSINESS WIRE)–
Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below.

Municipal Funds:

National Funds

Ticker

Distribution

Declaration- 4/1/2025 Ex-Date- 4/15/2025 Record- 4/15/2025 Payable- 5/1/2025

	Ticker	Distribution	Change From Prior Distribution

BlackRock Municipal Income Quality Trust*	BYM	$0.055500	–
BlackRock Long-Term Municipal Advantage Trust*	BTA	$0.049500	–
BlackRock MuniAssets Fund, Inc.*	MUA	$0.055500	–
BlackRock Municipal Income Trust*	BFK	$0.050000	–
BlackRock Investment Quality Municipal Trust, Inc.*	BKN	$0.057000	–
BlackRock Municipal Income Trust II*	BLE	$0.054000	–
BlackRock Municipal 2030 Target Term Trust	BTT	$0.046400	–
BlackRock MuniHoldings Fund*	MHD	$0.059500	–
BlackRock MuniYield Quality Fund II, Inc.*	MQT	$0.051000	–
BlackRock MuniYield Quality Fund, Inc.*	MQY	$0.058000	–
BlackRock MuniHoldings Quality Fund II, Inc.*	MUE	$0.051000	–
BlackRock MuniVest Fund II, Inc.*	MVT	$0.054000	–
BlackRock MuniYield Fund, Inc.*	MYD	$0.054500	–
BlackRock MuniYield Quality Fund III, Inc.*	MYI	$0.055500	–
BlackRock MuniVest Fund, Inc.*	MVF	$0.036000	–
BlackRock 2037 Municipal Target Term Trust	BMN	$0.093750	–

State-Specific Funds	Ticker	Distribution	Change From Prior Distribution

BlackRock MuniHoldings California Quality Fund, Inc.*	MUC	$0.053500	–
BlackRock California Municipal Income Trust*	BFZ	$0.059000	–
BlackRock MuniYield Michigan Quality Fund, Inc.*	MIY	$0.054500	–
BlackRock MuniHoldings New Jersey Quality Fund, Inc.*	MUJ	$0.054000	–
BlackRock MuniHoldings New York Quality Fund, Inc.*	MHN	$0.051500	–
BlackRock MuniYield New York Quality Fund, Inc.*	MYN	$0.051200	–
BlackRock New York Municipal Income Trust*	BNY	$0.051000	–
BlackRock MuniYield Pennsylvania Quality Fund*	MPA	$0.066000	–
BlackRock Virginia Municipal Bond Trust*	BHV	$0.051500	–

Taxable Municipal Fund:

Declaration- 4/1/2025 Ex-Date- 4/15/2025 Record- 4/15/2025 Payable- 4/30/2025

Fund	Ticker	Distribution	Change From Prior Distribution

BlackRock Taxable Municipal Bond Trust*	BBN	$0.092900	–

Taxable Fixed Income Funds:

Declaration- 4/1/2025 Ex-Date- 4/15/2025 Record- 4/15/2025 Payable- 4/30/2025

Fund	Ticker	Distribution	Change From Prior Distribution

BlackRock Floating Rate Income Trust*	BGT	$0.120280	–
BlackRock Core Bond Trust*	BHK	$0.074600	–
BlackRock Multi-Sector Income Trust*	BIT	$0.123700	–
BlackRock Income Trust, Inc.*	BKT	$0.088200	–
BlackRock Limited Duration Income Trust*	BLW	$0.113200	–
BlackRock Credit Allocation Income Trust*	BTZ	$0.083900	–
BlackRock Debt Strategies Fund, Inc.*	DSU	$0.098730	–
BlackRock Floating Rate Income Strategies Fund, Inc.*	FRA	$0.123840	–
BlackRock Corporate High Yield Fund, Inc.*	HYT	$0.077900	–

Equity Funds:

Declaration- 4/1/2025 Ex-Date- 4/15/2025 Record- 4/15/2025 Payable- 4/30/2025

Fund	Ticker	Distribution	Change From Prior Distribution

BlackRock Resources & Commodities Strategy Trust*	BCX	$0.069700	–
BlackRock Enhanced Equity Dividend Trust	BDJ	$0.061900	–
BlackRock Energy and Resources Trust*	BGR	$0.097300	–
BlackRock Enhanced International Dividend Trust*	BGY	$0.042600	–
BlackRock Health Sciences Trust*	BME	$0.262100	–
BlackRock Health Sciences Term Trust*	BMEZ	$0.173970	(0.002330)
BlackRock Enhanced Global Dividend Trust*	BOE	$0.082700	–
BlackRock Utilities, Infrastructure & Power Opportunities Trust*	BUI	$0.136000	–
BlackRock Enhanced Large Cap Core Fund, Inc.*	CII	$0.141000	–
BlackRock Science and Technology Trust*	BST	$0.250000	–
BlackRock Science and Technology Term Trust*	BSTZ	$0.221810	(0.001240)
BlackRock Technology and Private Equity Term Trust*	BTX	$0.084470	(0.001680)

Multi-Asset Funds:

Declaration- 4/1/2025 Ex-Date- 4/15/2025 Record- 4/15/2025 Payable- 4/30/2025

Fund	Ticker	Distribution	Change From Prior Distribution

BlackRock Capital Allocation Term Trust*	BCAT	$0.284750	(0.002480)
BlackRock ESG Capital Allocation Term Trust*	ECAT	$0.303590	(0.002690)

* In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended (the “1940 Act”), each of the Funds noted above posted to the DTC bulletin board and sent to its shareholders of record as of the applicable record date a Section 19 notice with the previous distribution payment. The Section 19 notice was provided for informational purposes only and not for tax reporting purposes. This information can be found in the “Closed-End Funds” section of www.blackrock.com. As applicable, the final determination of the source and tax characteristics of all distributions in 2025 will be made after the end of the year.

BlackRock Capital Allocation Term Trust (NYSE: BCAT), BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), BlackRock Science and Technology Term Trust (NYSE: BSTZ), BlackRock Health Sciences Term Trust (NYSE: BMEZ) and BlackRock Technology and Private Equity Term Trust (NYSE: BTX) have adopted a managed distribution plan (a “Plan”) to support a level monthly distribution of income, capital gains and/or return of capital, or in the case of BMEZ, BSTZ, BTX, ECAT and BCAT a monthly distribution based on an annual rate of 12% (for BMEZ, BSTZ and BTX) and 20% (for ECAT and BCAT) of the Fund’s 12-month rolling average daily net asset value calculated 5 business days prior to declaration date of each distribution. The April 2025 distribution for each of BMEZ, BSTZ, BTX, ECAT and BCAT was calculated based on the average net asset value from 3/25/2024 through 3/24/2025. Below are the 12-month rolling average daily net asset values used to calculate BMEZ, BSTZ, BTX, ECAT and BCAT’s April distributions:

BMEZ: $17.396920

BSTZ: $22.180760

BTX: $8.446080

ECAT: $18.214880

BCAT: $17.084760

The fixed amounts distributed per share or distribution rate, as applicable, are subject to change at the discretion of each Fund’s Board of Directors/Trustees. Under its Plan, each Fund will distribute all available investment income to its shareholders, consistent with its investment objectives and as required by the Internal Revenue Code of 1986, as amended (the “Code”). If sufficient income (inclusive of net investment income and short-term capital gains) is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its shareholders in order to maintain a level distribution.

Each Fund’s estimated sources of the distributions paid as of March 31, 2025 and for its current fiscal year are as follows:

Estimated Allocations as of March 31, 2025
Fund	Distribution	Net Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
BCX¹	$0.069700	$0.040443 (58%)	$0 (0%)	$0 (0%)	$0.029257 (42%)
BDJ¹	$0.061900	$0.017107 (28%)	$0 (0%)	$0 (0%)	$0.044793 (72%)
BGR¹	$0.097300	$0.013323 (14%)	$0 (0%)	$0 (0%)	$0.083977 (86%)
BGY¹	$0.042600	$0 (0%)	$0 (0%)	$0 (0%)	$0.042600 (100%)
BME	$0.262100	$0.007446 (3%)	$0 (0%)	$0.254654 (97%)	$0 (0%)
BMEZ¹	$0.176300	$0 (0%)	$0 (0%)	$0 (0%)	$0.176300 (100%)
BOE¹	$0.082700	$0.016158 (20%)	$0 (0%)	$0 (0%)	$0.066542 (80%)
BUI¹	$0.136000	$0.015342 (11%)	$0.120658 (89%)	$0 (0%)	$0 (0%)
CII	$0.141000	$0.001783 (1%)	$0 (0%)	$0.139217 (99%)	$0 (0%)
BST¹	$0.250000	$0 (0%)	$0 (0%)	$0.250000 (100%)	$0 (0%)
BSTZ	$0.223050	$0 (0%)	$0.025777 (12%)	$0.197273 (88%)	$0 (0%)
BTX¹	$0.086150	$0 (0%)	$0 (0%)	$0 (0%)	$0.086150 (100%)
BCAT¹	$0.287230	$0.032707 (11%)	$0 (0%)	$0 (0%)	$0.254523 (89%)
ECAT¹	$0.306280	$0.017283 (6%)	$0 (0%)	$0 (0%)	$0.288997 (94%)

Estimated Allocations for the Fiscal Year through March 31, 2025
Fund	Distribution	Net Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
BCX¹	$0.209100	$0.062983 (30%)	$0 (0%)	$0 (0%)	$0.146117 (70%)
BDJ	$0.185700	$0.185700 (100%)	$0 (0%)	$0 (0%)	$0 (0%)
BGR¹	$0.291900	$0.100094 (34%)	$0 (0%)	$0 (0%)	$0.191806 (66%)
BGY¹	$0.127800	$0.001421 (1%)	$0 (0%)	$0 (0%)	$0.126379 (99%)
BME	$0.786300	$0.007320 (1%)	$0 (0%)	$0.778980 (99%)	$0 (0%)
BMEZ¹	$0.531790	$0 (0%)	$0 (0%)	$0 (0%)	$0.531790 (100%)
BOE¹	$0.248100	$0.020832 (8%)	$0 (0%)	$0 (0%)	$0.227268 (92%)
BUI¹	$0.408000	$0.036842 (9%)	$0.160798 (39%)	$0.159227 (39%)	$0.051133 (13%)
CII	$0.423000	$0 (0%)	$0 (0%)	$0.423000 (100%)	$0 (0%)
BST¹	$0.750000	$0 (0%)	$0 (0%)	$0.593064 (79%)	$0.156936 (21%)
BSTZ	$0.664710	$0 (0%)	$0.025777 (4%)	$0.638933 (96%)	$0 (0%)
BTX¹	$0.259530	$0 (0%)	$0 (0%)	$0 (0%)	$0.259530 (100%)
BCAT¹	$0.864550	$0.039372 (5%)	$0 (0%)	$0 (0%)	$0.825178 (95%)
ECAT¹	$0.920640	$0.017283 (2%)	$0 (0%)	$0 (0%)	$0.903357 (98%)

¹The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund’s net asset value per share.

The amounts and sources of distributions reported are only estimates and are being provided to you pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:
Fund	Average annual total return (in relation to NAV) for the 5-year period ending on 2/28/2025	Annualized current distribution rate expressed as a percentage of NAV as of 2/28/2025	Cumulative total return (in relation to NAV) for the fiscal year through 2/28/2025	Cumulative fiscal year distributions as a percentage of NAV as of 2/28/2025
BCX	13.12%	8.41%	5.46%	1.40%
BDJ	11.07%	7.94%	5.11%	1.32%
BGR	14.27%	8.27%	3.96%	1.38%
BGY	8.64%	8.33%	5.48%	1.39%
BME	8.96%	7.27%	6.31%	1.21%
BMEZ	5.13%	13.01%	1.15%	2.19%
BOE	10.16%	8.02%	4.17%	1.34%
BUI	8.37%	7.19%	1.37%	1.20%
CII	14.11%	7.84%	2.14%	1.31%
BST	12.12%	7.85%	(2.22%)	1.31%
BSTZ	10.65%	12.24%	(3.49%)	2.02%
BTX*	(13.76%)	13.53%	(6.64%)	2.27%
BCAT*	5.55%	21.18%	2.75%	3.55%
ECAT*	7.29%	21.16%	2.59%	3.54%

* Portfolio launched within the past 5 years; the performance and distribution rate information presented for this Fund reflects data from inception to 2/28/2025.

Shareholders should not draw any conclusions about a Fund’s investment performance from the amount of the Fund’s current distributions or from the terms of the Fund’s Plan.

BlackRock Debt Strategies Fund, Inc. (NYSE: DSU), BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE: FRA), BlackRock Floating Rate Income Trust (NYSE: BGT), BlackRock Corporate High Yield Fund, Inc. (NYSE: HYT), BlackRock Credit Allocation Income Trust (NYSE: BTZ), BlackRock Limited Duration Income Trust (NYSE: BLW), BlackRock Core Bond Trust (NYSE: BHK), BlackRock Multi-Sector Income Trust (NYSE: BIT), BlackRock Income Trust, Inc. (NYSE: BKT) and BlackRock Taxable Municipal Bond Trust (NYSE: BBN) have adopted a Plan to support a level monthly distribution of income, capital gains and/or return of capital. The fixed amounts distributed per share are subject to change at the discretion of each Fund’s Board of Directors/Trustees. Under its Plan, each Fund will distribute all available net income to its shareholders, consistent with its investment objectives and as required by the Code. If sufficient income (inclusive of net investment income and short-term capital gains) is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain a level distribution. Each of the above-listed Funds is currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). Each Fund expects that distributions under the Plan will exceed current income and capital gains and therefore will likely include a return of capital. Each Fund may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the 1940 Act.

Each Fund’s estimated sources of the distributions paid as of February 28, 2025 and for its current fiscal year are as follows:

Estimated Allocations as of March 31, 2025
Fund	Distribution	Net Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
BKT²	$0.088200	$0.037406 (42%)	$0 (0%)	$0 (0%)	$0.050794 (58%)
DSU²	$0.098730	$0.056938 (58%)	$0 (0%)	$0 (0%)	$0.041792 (42%)
FRA²	$0.123840	$0.071503 (58%)	$0 (0%)	$0 (0%)	$0.052337 (42%)
BBN²	$0.092900	$0.074139 (80%)	$0 (0%)	$0 (0%)	$0.018761 (20%)
BGT²	$0.120280	$0.067651 (56%)	$0 (0%)	$0 (0%)	$0.052629 (44%)
HYT²	$0.077900	$0.055402 (71%)	$0 (0%)	$0 (0%)	$0.022498 (29%)
BTZ²	$0.083900	$0.054273 (65%)	$0 (0%)	$0 (0%)	$0.029627 (35%)
BLW²	$0.113200	$0.081283 (72%)	$0 (0%)	$0 (0%)	$0.031917 (28%)
BHK²	$0.074600	$0.049454 (66%)	$0 (0%)	$0 (0%)	$0.025146 (34%)
BIT²	$0.123700	$0.072089 (58%)	$0 (0%)	$0 (0%)	$0.051611 (42%)

Estimated Allocations for the Fiscal Year through March 31, 2025
Fund	Distribution	Net Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
BKT²	$0.264600	$0.117944 (45%)	$0 (0%)	$0 (0%)	$0.146656 (55%)
DSU²	$0.296190	$0.184085 (62%)	$0 (0%)	$0 (0%)	$0.112105 (38%)
FRA²	$0.371520	$0.242686 (65%)	$0 (0%)	$0 (0%)	$0.128834 (35%)
BBN²	$0.278700	$0.242847 (87%)	$0 (0%)	$0 (0%)	$0.035853 (13%)
BGT²	$0.360840	$0.220362 (61%)	$0 (0%)	$0 (0%)	$0.140478 (39%)
HYT²	$0.233700	$0.174009 (74%)	$0 (0%)	$0 (0%)	$0.059691 (26%)
BTZ²	$0.251700	$0.173944 (69%)	$0 (0%)	$0 (0%)	$0.077756 (31%)
BLW²	$0.339600	$0.257357 (76%)	$0 (0%)	$0 (0%)	$0.082243 (24%)
BHK²	$0.223800	$0.149805 (67%)	$0 (0%)	$0 (0%)	$0.073995 (33%)
BIT²	$0.371100	$0.226040 (61%)	$0 (0%)	$0 (0%)	$0.145060 (39%)

²The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund’s net asset value per share.

The amounts and sources of distributions reported are only estimates and are being provided to you pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send its stockholders a Form 1099-DIV for the calendar year that will illustrate how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:
Fund	Average annual total return (in relation to NAV) for the 5-year period ending on 2/28/2025	Annualized current distribution rate expressed as a percentage of NAV as of 2/28/2025	Cumulative total return (in relation to NAV) for the fiscal year through 2/28/2025	Cumulative fiscal year distributions as a percentage of NAV as 2/28/2025
BKT	(1.64%)	8.79%	3.48%	1.47%
DSU	6.69%	11.26%	0.82%	1.88%
FRA	6.90%	11.67%	0.60%	1.95%
BBN	(1.65%)	6.30%	4.35%	1.05%
BGT	7.03%	11.62%	0.72%	1.94%
HYT	5.98%	9.62%	2.13%	1.60%
BTZ	2.75%	8.85%	2.45%	1.48%
BLW	5.14%	9.65%	1.83%	1.61%
BHK	(1.20%)	8.48%	4.00%	1.41%
BIT	6.75%	10.23%	1.71%	1.71%

No conclusions should be drawn about a Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Fund’s Plan.

The amount distributed per share under a Plan is subject to change at the discretion of the applicable Fund’s Board. Each Plan will be subject to ongoing review by the Board to determine whether the Plan should be continued, modified or terminated. The Board may amend the terms of a Plan or suspend or terminate a Plan at any time without prior notice to the Fund’s shareholders if it deems such actions to be in the best interest of the Fund or its shareholders. The amendment or termination of a Plan could have an adverse effect on the market price of the Fund’s shares.

About BlackRock

Availability of Fund Updates

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund’s or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250401141805/en/

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