SCHEDULE: Saba Capital Fully Divests BlackRock Technology and Private Equity Term Trust Stake via Tender Offer

Saba Capital Management, L.P. and its affiliates have fully divested their entire stake in BlackRock Technology and Private Equity Term Trust by tendering 60.68 million shares into the issuer's tender offer at $7.4924 per share.

Summary

• Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein (the "Reporting Persons") have fully exited their investment in BlackRock Technology and Private Equity Term Trust.
• On July 9, 2025, the Reporting Persons tendered 60,675,395 Common Shares into the Issuer's tender offer.
• The Issuer accepted these shares at a price of $7.4924 per share.
• As a result of this transaction, the Reporting Persons no longer hold any beneficial ownership in the Issuer's securities, with their aggregate beneficial ownership now at 0.00 shares, representing 0% of the class.

Sentiment

Score: 7

Explanation: The document reports the successful completion of a tender offer where Saba Capital fully divested its stake in BlackRock Technology and Private Equity Term Trust. This represents a successful exit for the reporting entity and a completed capital deployment for the issuer, indicating an expected and executed transaction without negative disclosures.

Positives

• For Saba Capital: Successfully executed a tender offer, allowing for a complete and orderly exit from their position in BlackRock Technology and Private Equity Term Trust.
• For BlackRock Technology and Private Equity Term Trust: Successfully completed a tender offer, which can be a mechanism to manage outstanding shares or provide liquidity to large shareholders.

Negatives

• No explicit negatives are stated in the document; the transaction appears to be a mutually agreed tender offer.

Risks

• No specific risks related to the issuer's operations or future are mentioned in this filing, as it primarily reports a change in beneficial ownership due to a completed transaction.

Future Outlook

No forward-looking statements or guidance are provided in this filing, as it details a completed transaction.

Industry Context

This transaction represents a significant divestment by an activist investor (Saba Capital) from a closed-end fund (BlackRock Technology and Private Equity Term Trust) via a tender offer. Such tender offers by closed-end funds can be a mechanism to manage discounts to net asset value or to provide liquidity to large shareholders, which is a common theme in the closed-end fund industry.

Comparison to Industry Standards

• This filing details a specific tender offer transaction rather than operational or financial results that would typically be compared to industry benchmarks.
• The tender offer price of $7.4924 per share is specific to this transaction and the terms set by BlackRock Technology and Private Equity Term Trust, not directly comparable to general industry pricing standards without further context on the fund's Net Asset Value (NAV) or market price at the time of the offer.
• No specific comparable companies, projects, or results are mentioned in the document for direct comparison.

Legal Proceedings

• The Reporting Persons have not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) during the last five years.
• The Reporting Persons have not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws, during the last five years.

Stakeholder Impact

• Shareholders: The tender offer allowed a significant shareholder (Saba Capital) to exit its position. For remaining shareholders, a tender offer can potentially impact earnings per share (if shares are retired) or the fund's discount to NAV, depending on the fund's strategy and market conditions.
• Reporting Persons (Saba Capital): Successfully divested their entire holding, achieving liquidity for their investment.

Next Steps

• No specific future actions, events, or milestones are mentioned in this filing, as it reports a completed transaction.

Key Dates

Keywords

Saba Capital Management, BlackRock Technology and Private Equity Term Trust, Tender Offer, Beneficial Ownership, SEC Filing, Schedule 13D, Investment Fund, Share Sale, Closed-End Fund