BlackRock Capital Allocation Term Trust (BCAT) announced a rights offering allowing shareholders to buy additional shares at a price set at 95% of the market price, capped just below net asset value (NAV). The offering ratio is 1-for-5 with a NAV floor of 98.5%, which limits dilution to about -0.25% in the worst case. Following the announcement, BCAT's premium sharply decreased, highlighting risks of holding closed-end funds at high premiums before such offerings. Investors are advised to subscribe only if BCAT trades at a discount narrower than -1.5% at the offering's expiry; otherwise, buying shares on the open market is recommended.
BlackRock Capital Allocation Term Trust rights offering news comes as 106 of 150 US stocks on Pluang fell today. For readers following US stocks, here is Pluang's market snapshot as of Sep 24, 2026 17:12 WIB: Intel Corp (INTC) traded at USD 118.94 with a 1-day change of -2.99% and a typical hold time of 116 days, Marvell Technology Inc (MRVL) at USD 253.60 with a -2.80% change and 41 days hold time, and Unity Software Inc (U) rose 2.72% to USD 45.30 with a 50 days typical hold time.
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