BlackRock's BCAT fund reports outcome of its rights offering at $13.30 a share

what happened

BlackRock Capital Allocation Term Trust (BCAT) has completed its transferable rights offering, according to a release that TradingView published. The subscription window closed on October 21, 2026, and rights holders could buy up to 21,255,200 common shares, each with a par value of $0.001.

The final price was set at $13.30 per share, a figure derived from 98.5% of the fund's NAV on the same day. The company expects to issue roughly 3.3 million shares, including those subscribed through guaranteed delivery notices, bringing in about $43 million. BlackRock Advisors, LLC, the adviser, will cover all offer costs, so the fund keeps the full amount raised.

Shares issued in the offer will not receive dividends with a record date before the expiration date. The fund plans to invest the proceeds in line with its investment objective.

why it matters

For a closed-end fund, a rights offering priced below NAV brings in cash that can be deployed into the portfolio, but the new shares also dilute the stakes of current holders. The deal is small and routine, so its effect on the broader market is limited.

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