BlackRock MuniVest Fund, Inc. (MVF) Announces Tender Offer in Conjunction with Results of the Quarterly Measurement Period of its Discount Management Program
As previously announced, under the Program, the 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 Fund's Measurement Period commenced on April 1, 2025 and ended on June 30, 2025 (the 'Quarterly Measurement Period'). The average daily discount to NAV for the Fund during the Quarterly Measurement Period is summarized below.
Press Release: BlackRock MuniVest Fund, Inc. (MVF) Announces Adoption of Discount Management Program.
Quarterly Measurement Period Discount Results for the Fund
Fund Name
Ticker
Average Daily Discount for
the Measurement Period
ended June 30, 2025
BlackRock MuniVest Fund, Inc.
MVF
-7.60%
Expand
The Fund's Boards of Directors (the 'Board') determined that if a Trigger Event occurred during the Quarterly Measurement Period, 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 the Fund, the Board has authorized the Fund's tender offer with the anticipated commencement and expiration dates outlined below.
Event
MVF
Tender Offer Commencement Date
Tuesday, July 15, 2025
Tender Offer Expiration Date and Time
Friday, August 15, 2025 at 5:00 p.m. Eastern Time, unless otherwise extended
Expand
If more than 2.5% of the 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 the 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 approximately five business days after the expiration date.
The terms and conditions of the 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 Fund's common shareholders. As soon as its tender offer commences, the 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 Fund 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 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 Fund 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 Fund. This reference to BlackRock's website is intended to allow investors public access to information regarding the Fund 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 the Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the 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.
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 Fund, 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 Fund or in the Fund's net asset value; (2) the relative and absolute investment performance of the 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 the 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 Fund with the SEC are accessible on the SEC's website at www.sec.gov and on BlackRock's website at www.blackrock.com, and may discuss these or other factors that affect the Fund. The information contained on BlackRock's website is not a part of this press release.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
AAON (AAON) Tumbles 10.49% as Earnings Disappoint
We recently published . AAON, Inc. (NASDAQ:AAON) is one of the best-performing stocks on Monday. AAON tumbled by 10.49 percent on Monday to close at $72.07 apiece following a disappointing earnings performance in the second quarter of the year. In its updated report, AAON, Inc. (NASDAQ:AAON) said net income declined by 70 percent to $15.5 million from $52 million in the same period last year. Net sales slightly dipped to $311 million from $313 million year-on-year, dragged down by an 18-percent decrease in net sales from its Oklahoma segment. In the first half of the year, net income decreased by 50.9 percent to 44.78 million from $91.2 million in the same comparable period, while net sales increased by 10 percent to $633.6 million from $575.7 million year-on-year. 'Our second quarter results fell short of our expectations and do not reflect the high standards we set for ourselves as an organization,' said AAON, Inc. (NASDAQ:AAON) CEO Matt Tobolski. Pixabay/Public Domain 'The underperformance was primarily driven by poor operational execution, mainly associated with the implementation of our new ERP system at our Longview, [Texas] facility. The April go-live of the new system directly impacted production of both finished products and coils at Longview. Since Longview supplies coils to our Tulsa, [Oklahoma] facility, this also limited Tulsa's expected production ramp. We are taking immediate and targeted actions to address these issues, strengthen execution, and ensure we are better positioned to deliver consistent results in the future,' he added. While we acknowledge the potential of AAON as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
Business Wire
24 minutes ago
- Business Wire
Citcon and GMO Payment Gateway, Announce Strategic Partnership to Expand Cross-Border Payment Capabilities
SAN JOSE, Calif. & TOKYO--(BUSINESS WIRE)--Citcon, the leading global provider of integrated payment solutions, and GMO Payment Gateway, Inc. (GMO-PG), a leading Japanese payment service provider, today announced a strategic partnership and investment. This collaboration builds upon GMO-PG's prior investment in Citcon, enabling merchants globally to access a more comprehensive set of payment methods in Japan and beyond. Citcon expands seamless cross-border payments, empowering merchants to connect with customers across APAC and the USA. Share Through this partnership, Citcon will integrate GMO-PG's Japanese payment capabilities, including credit cards, digital wallets, and convenience store payments, into its platform. This enables Citcon's merchants in the U.S., Canada, U.K., and China to seamlessly accept popular Japanese payment methods, making it easier for them to serve Japanese consumers at home and abroad. Looking ahead, GMO-PG plans to leverage Citcon's global infrastructure to expand its reach and empower its Japanese merchants to accept international payments through Citcon's integrated suite of solutions. This strategic alignment represents a significant milestone in expanding global commerce by bridging Japan with global markets through advanced payment technology. 'At Citcon, we are committed to making global commerce easier and more inclusive,' said Casey Bullock, CEO of Citcon. 'This partnership with GMO-PG adds essential Japanese payment methods to our platform, enabling our merchants across North America, Europe, and Asia to better serve Japanese customers. It also allows GMO to bring Citcon's global capabilities to its domestic merchants, creating a powerful two-way bridge for commerce.' 'GMO-PG is proud to advance our strategic partnership with Citcon, building upon our previous investment,' said Ryu Muramatsu, Director, Executive Vice President at GMO Payment Gateway. 'Citcon's strong global presence and expertise in cross-border payments present a compelling opportunity to serve both Japanese merchants seeking to expand internationally and global merchants aiming to enter the Japanese market.' This collaboration represents a step forward in both companies' missions to make payments more seamless, borderless, and tailored to regional preferences. About GMO Payment Gateway, Inc. GMO Payment Gateway, Inc. provides payment-related services that support the customer's online and cashless migration and digital transformation (DX). Annual transaction value exceeds 20 trillion yen and our online comprehensive payment services have been adopted by over 150,000 merchants such as EC operators and public institutions of NHK and National Tax Agency, etc. As the leading company in the payment industry, we contribute to the advancement and realization of a sustainable society by driving social innovations using payment and financial technology through our services, such as online comprehensive payment service, payment services in the offline market, Buy Now Pay Later (BNPL), BaaS Support services to financial institutions and enterprises and strategic investment and lending to overseas leading-edge FinTech companies. (As of end-March 2025, consolidated figures) About Citcon Founded in 2015, Citcon is a leading global payment provider enabling merchants to accept payments from more than 100 mobile wallets, credit cards, and alternative payment methods through a single integration. Citcon's platform is used by thousands of brands, including leading luxury retailers, travel companies, and e-commerce businesses, to power cross-border and in-store payments. Citcon is headquartered in Silicon Valley with offices around the world.
Bloomberg
25 minutes ago
- Bloomberg
Cargill's Revenue Falls to 4-Year Low Amid Declining Crop Prices
Cargill Inc. 's revenue declined to the lowest in four years as the largest private company in the US continues to restructure in the face of declining crop prices and a shrinking American cattle herd. The Minneapolis-based company posted revenue of $154 billion in the year ended May 31, according to an annual report posted on its website. That's down from about $160 billion a year earlier and the lowest since 2021, when revenue was reported at $134 billion.
