BlackRock’s option is slated to go away when the firm participates in a coming fundraising round alongside other investors. iCapital has been seeking to raise roughly $100 million in a round expected to value the firm at more than $700 million, people said. BlackRock’s option allows it to buy iCapital in a deal valuing the fintech firm at roughly up to $400 million plus excess balance-sheet cash, some of the people said.

https://www.wsj.com/articles/blackrock-in-talks-to-cancel-option-to-take-over-icapital-network-11576756801?mod=searchresults&page=1&pos=1