Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material
June 30 2023 - 6:26AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by the Registrant ☒
Filed by a Party other than the Registrant ☐
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Check the appropriate box: |
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☐ Preliminary Proxy Statement |
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☐ Confidential, for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2)) |
☐ Definitive Proxy Statement |
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☒ Definitive Additional
Materials |
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☐ Soliciting Material Pursuant to
§ 240.14a-12 |
BLACKROCK INNOVATION AND GROWTH TERM TRUST
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy
Statement, if Other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
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Fee paid previously with preliminary materials. |
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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
14a-6(i)(1) and 0-11. |
BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) Dear Valued Shareholder: Ahead of our Annual Meeting of Shareholders of BIGZ on
July 10, 2023, we wanted to alert you that this is your final opportunity to vote for the future of your Fund by voting FOR the Boards Nominees on the WHITE proxy card. Your vote, no matter how many shares you own, is needed
to stop a predatory hedge fund managed by Saba Capital Management, L.P. (Saba) from taking control of your Fund and replacing the Funds independent, qualified and experienced Board members with its inexperienced and unqualified
nominees that are beholden to Saba. If elected, Sabas nominees may take actions that are harmful to the Fund and its shareholders, so that Saba may earn a profit at the expense of shareholders, like you, who rely on this Fund for consistent
monthly distributions. Sabas focus is on short-term profit and NOT on the interests of long-term shareholders. We urge you to reject Sabas self-serving agenda that could put your investment and the opportunity for future returns at risk.
Please vote to stop Saba! ï¼ Vote FOR the Boards NomineesCynthia L. Egan, Lorenzo A. Flores, Stayce D. Harris, Catherine A. Lynchusing the WHITE proxy card. ï,´ Please do NOT send back the
gold proxy card you may receive from Saba, as this will cancel your prior vote for the Boards Nominees. Only your latest dated proxy will count at the meeting. Your Boards qualifications and experience stand in direct contrast to
Sabas four nominees, who do not have the relevant industry or closed-end fund experience necessary to steward the Fund. We remain confident that under the leadership of the current Board members, the
Fund is well-positioned to execute its investment objectives, which are to provide investors with total return and income through a combination of current income, current gains and long-term capital appreciation. We ask that you consider the
following when voting on the Boards Nominees: UNDER THE BOARDS LEADERSHIP, YOUR FUND HAS PAID ATTRACTIVE MONTHLY DISTRIBUTIONS AND PROVIDES UNIQUE EXPOSURE ï,· $475 million in monthly distributions paid to shareholders
since inception ï,· $818 million invested in innovative private companies1 THE BOARD IS COMMITTED TO CREATING SUSTAINABLE VALUE FOR YOU AND ALL OF THE FUNDS SHAREHOLDERS ï,· $32 million in gains for
shareholders from $160 million in voluntary share repurchases since inception2 ï,· All shareholders will have an opportunity to receive 100% liquidity at net asset value in 2033 via fund liquidation or tender
offer
YOUR BEST-IN-CLASS BOARD NOMINEES ARE EXPERIENCED,
QUALIFIED AND DIVERSE ï,· Your Boards nominees represent a diverse slate of professionals, each with over 30 years of experience in finance, investment management or business leadership ï,· The Board is committed to
ensuring that the Fund operates in a responsible manner that protects and advances the interests of the Fund and all of its shareholders YOUR VOTE IS IMPORTANT, NO MATTER HOW MANY SHARES YOU OWN VOTE ON THE WHITE PROXY CARD
AND REJECT SABAS ATTEMPTED TAKEOVER TODAY. A VOTE FOR SABAS NOMINEES COULD HAVE NEGATIVE CONSEQUENCES FOR YOUR FUND. How does the Board recommend that I vote? ï¼ The Board,
including the independent Board Members, unanimously recommends a vote FOR the Boards Nominees, who have created value for all shareholders, using the WHITE proxy card. ï,´ Please do NOT send back the gold proxy card you
may receive from Saba, as this will cancel your prior vote for the Boards Nominees. Only your latest dated proxy will count at the meeting. How do I vote? If you have any questions about the proposal to be voted, please feel free to contact
Georgeson LLC (Georgeson), toll free at 1-866-328-5445. The proxy materials previously sent to you contain important
information; please read them carefully. Copies of the Proxy Statement are available for free on the Securities and Exchange Commissions website at www.sec.gov or by visiting
WWW.PROXY-DIRECT.COM/BLK-33353 or by calling Georgeson, the Funds proxy solicitor, toll free at
1-866-328-5445. Source: Morningstar data as of April 30, 2023. (1) Under normal market conditions, the Fund currently
intends to invest up to 25% of its total assets, measured at the time of investment, in illiquid privately placed or restricted securities. (2) When BIGZ repurchases its shares at a discount to NAV, those shares are retired and the Fund keeps
the difference between the NAV per share and purchase price per share, resulting in a higher NAV per share for shareholders.
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