Blackrock Science and Technology Trust II IPO – What you need to know

0
176

 

Blackrock Science and Technology Trust II, adopted restrictions and policies, filed for an IPO with NASDAQ under the symbol “BSTZ”.

Blackrock Science and Technology Trust II offering 5.0 million shares at a price range of $20.00 – $20.00

Managers Morgan Stanley, BofA  Merrill Lynch, UBS Investment Bank, Wells Fargo Securities, Raymond James. The IPO is expected to price on June 26, 2019.

The Business

The Trust has adopted restrictions and policies relating to the investment of the Trust’s assets and its activities. Certain of the restrictions are fundamental policies of the Trust and may not be changed without the approval of the holders of a majority of the Trust’s outstanding voting securities (which for this purpose and under the Investment Company Act means the lesser of (i) 67% of the shares represented at a meeting at which more than 50% of the outstanding shares are represented or (ii) more than 50% of the outstanding shares), including class approval by a majority of the Trust’s outstanding preferred shares, if any (which for this purpose and under the Investment Company Act means the lesser of (i) 67% of the preferred shares, as a single class, represented at a meeting at which more than 50% of the Trust’s outstanding preferred shares are represented or (ii) more than 50% of the outstanding preferred shares).

The IPO is expected to trade on NASDAQ on June 26, 2019

Featured photo credit to internet