NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, Saba) today announced that it has entered into standstill agreements (the Agreements) with BlackRock Advisors, LLC, which is the investment advisor of the BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) and the BlackRock Health Sciences Term Trust (NYSE: BMEZ) (the Funds), following constructive negotiations. Under the terms of the Agreements, BIGZ will conduct a tender offer to purchase for cash 50% of its outstanding common shares and BMEZ will conduct a tender offer to purchase for cash 40% of its outstanding common shares (the Tender Offers). The Tender Offers will provide all shareholders the opportunity to tender some or all of their common shares at a price equal to 99.5% of the Funds' net asset value per share (NAV) as determined as of the close of the regular trading session of the New York Stock Exchange (the NYSE) on the trading day after the expiration or closing date of the Tender Offers.