The Fund announced that its Board of Trustees has approved the terms of the issuance of transferable rights to the holders of the Trust’s common shares of beneficial interest as of June 18, 2021. Holders of Rights will be entitled to subscribe for additional Shares at a discount to the market price of the Shares. After considering a number of factors, including potential benefits and costs, the Board and the Fund’s investment adviser, BlackRock Advisors, LLC, have determined that it is in the best interests of both the Trust and its shareholders to conduct the Offer and increase the assets of the Trust available to take advantage of existing and future investment opportunities that may be or may become available, consistent with the Trust’s investment objective of providing income and total return through a combination of current income, current gains and long-term capital appreciation.