Blue Owl Capital Corporation III Reports Second Quarter Net Investment Income Per Share of $0.41 and Net Asset Value Per Share of $15.56
Blue Owl Capital III (NYSE: OBDE) reported strong Q2 2024 results, with net investment income (NII) per share of $0.41, exceeding the regular dividend of $0.35 by over 15%. The company declared a Q3 2024 dividend of $0.35 per share and announced the second of five special dividends of $0.06 per share. Net Asset Value (NAV) per share increased to $15.56, up $0.28 from June 30, 2023.
OBDE's portfolio grew significantly, with new investment commitments totaling $1.0 billion across 31 new and 24 existing portfolio companies. The portfolio consisted of 85.0% first lien senior secured debt investments, with a weighted average total yield of 11.5% on accruing debt and income-producing securities.
Importantly, OBDE announced a definitive merger agreement with Blue Owl Capital (NYSE: OBDC), subject to shareholder approvals and closing conditions.
Blue Owl Capital III (NYSE: OBDE) ha riportato risultati solidi per il secondo trimestre del 2024, con un reddito da investimenti netto (NII) per azione di $0.41, superando il dividendo regolare di $0.35 di oltre il 15%. L'azienda ha dichiarato un dividendo per il terzo trimestre del 2024 di $0.35 per azione e ha annunciato il secondo di cinque dividendi speciali di $0.06 per azione. Il Valore Netto degli Attivi (NAV) per azione è aumentato a $15.56, con un incremento di $0.28 rispetto al 30 giugno 2023.
Il portafoglio di OBDE è cresciuto significativamente, con nuovi impegni di investimento che ammontano a $1.0 miliardo in 31 nuove e 24 esistenti aziende del portafoglio. Il portafoglio era composto per l'85.0% da investimenti in debito senior garantito di primo grado, con un rendimento totale medio ponderato del 11.5% su debito in accumulo e titoli che generano reddito.
È importante notare che OBDE ha annunciato un accordo di fusione definitivo con Blue Owl Capital (NYSE: OBDC), soggetto all'approvazione degli azionisti e alle condizioni di chiusura.
Blue Owl Capital III (NYSE: OBDE) reportó resultados sólidos para el segundo trimestre de 2024, con un ingreso neto por inversiones (NII) por acción de $0.41, superando el dividendo regular de $0.35 en más del 15%. La empresa declaró un dividendo para el tercer trimestre de 2024 de $0.35 por acción y anunció el segundo de cinco dividendos especiales de $0.06 por acción. El Valor Neto de los Activos (NAV) por acción aumentó a $15.56, un incremento de $0.28 desde el 30 de junio de 2023.
El portafolio de OBDE creció significativamente, con nuevos compromisos de inversión que totalizan $1.0 mil millones en 31 nuevas y 24 empresas ya existentes en el portafolio. El portafolio consistió en un 85.0% de inversiones en deuda senior garantizada de primer grado, con un rendimiento total promedio ponderado del 11.5% en deuda acumulada y valores que producen ingresos.
Importante, OBDE anunció un acuerdo de fusión definitivo con Blue Owl Capital (NYSE: OBDC), sujeto a la aprobación de los accionistas y a las condiciones de cierre.
블루 아울 캐피탈 III (NYSE: OBDE)는 2024년 2분기 강력한 실적을 보고했으며, 주당 순투자소득(NII)이 $0.41로, 정기 배당금 $0.35를 15% 이상 초과했습니다. 회사는 2024년 3분기 주당 $0.35의 배당금을 선언하고, 주당 $0.06의 두 번째 특별 배당금을 발표했습니다. 주당 순자산가치(NAV)는 $15.56로 증가했으며, 2023년 6월 30일 대비 $0.28 상승했습니다.
OBDE의 포트폴리오는 상당히 성장하였으며, 31개의 신규 기업과 24개의 기존 기업에 걸쳐 총 $10억의 신규 투자 약정이 있었습니다. 포트폴리오는 85.0%가 1순위 담보부 고선순위 채권 투자로 구성되었으며, 발생하는 채무와 수익성이 있는 증권에서 평균 가중 수익률이 11.5%입니다.
특히, OBDE는 블루 아울 캐피탈 (NYSE: OBDC)과 주주 승인 및 종료 조건에 따라 최종 합병 계약을 발표했습니다.
Blue Owl Capital III (NYSE: OBDE) a annoncé des résultats solides pour le deuxième trimestre 2024, avec un revenu net d'investissement (NII) par action de 0,41 $, dépassant le dividende ordinaire de 0,35 $ de plus de 15 %. L'entreprise a déclaré un dividende de 0,35 $ par action pour le troisième trimestre 2024 et a annoncé le deuxième de cinq dividendes spéciaux de 0,06 $ par action. La Valeur Nette des Actifs (NAV) par action a augmenté à 15,56 $, soit une augmentation de 0,28 $ par rapport au 30 juin 2023.
Le portefeuille d'OBDE a considérablement augmenté, avec de nouveaux engagements d'investissement totalisant 1,0 milliard de dollars répartis sur 31 nouvelles et 24 entreprises existantes dans le portefeuille. Le portefeuille était composé à 85,0 % d'investissements en dettes sécurisées de premier rang, avec un rendement total moyen pondéré de 11,5 % sur les dettes accumulées et les titres producteurs de revenus.
Il est important de noter qu'OBDE a annoncé un accord de fusion définitif avec Blue Owl Capital (NYSE: OBDC), sous réserve de l'approbation des actionnaires et des conditions de clôture.
Blue Owl Capital III (NYSE: OBDE) hat starke Ergebnisse für das zweite Quartal 2024 berichtet, mit einem Nettoinvestitionsertrag (NII) pro Aktie von 0,41 $, der die reguläre Dividende von 0,35 $ um mehr als 15 % übersteigt. Das Unternehmen erklärte eine Dividende von 0,35 $ pro Aktie für das dritte Quartal 2024 und kündigte die zweite von fünf Sonderdividenden von 0,06 $ pro Aktie an. Der Nettovermögenswert (NAV) pro Aktie stieg auf 15,56 $, was einem Anstieg von 0,28 $ seit dem 30. Juni 2023 entspricht.
Das Portfolio von OBDE wuchs erheblich, mit neuen Investitionsverpflichtungen in Höhe von 1,0 Milliarden Dollar in 31 neuen und 24 bestehenden Portfoliounternehmen. Das Portfolio bestand zu 85,0 % aus ersten nachrangigen gesicherten Schuldenanlagen, mit einer durchschnittlichen Gesamtrendite von 11,5 % auf akkumulierte Schulden und einkommensproduzierende Wertpapiere.
Wichtig ist, dass OBDE eine endgültige Fusionsvereinbarung mit Blue Owl Capital (NYSE: OBDC) bekannt gab, die der Zustimmung der Aktionäre und den Abschlussbedingungen unterliegt.
- NII per share of $0.41, exceeding the regular dividend by over 15%
- NAV per share increased to $15.56, up $0.28 from previous year
- New investment commitments of $1.0 billion in Q2 2024
- Portfolio growth to 207 companies with aggregate fair value of $4.3 billion
- Weighted average total yield of 11.5% on accruing debt and income-producing securities
- Announced merger agreement with Blue Owl Capital (OBDC)
- Net debt-to-equity increased to 1.22x from 1.04x in the previous quarter
- Total expenses increased to $72.5 million from $36.3 million in the same period last year
- Loans on non-accrual represented 0.5% of the total fair value of the debt portfolio
Insights
Blue Owl Capital III's Q2 2024 results demonstrate solid financial performance and portfolio growth. The NII of
The increased investment activity, with
However, the rising leverage (net debt-to-equity of 1.22x) and increased expenses warrant monitoring. The announced merger with OBDC could bring scale benefits but needs careful execution.
The 10.5% annualized dividend yield based on NAV is attractive in the current market, potentially driving investor interest. The special dividend series adds to shareholder returns, though it's important to note these are not guaranteed long-term.
The increased investment pace (
The merger with OBDC could be a game-changer, potentially creating a larger, more liquid entity with improved access to capital markets. However, merger integration risks and potential portfolio overlap should be considered.
SECOND QUARTER 2024 HIGHLIGHTS
- Second quarter net investment income ("NII") per share of
$0.41 $0.35 15% - As previously announced in January, the Board of Directors (the "Board") declared five special dividends of
$0.06 10.5% annualized dividend yield based on second quarter net asset value ("NAV") per share1- NAV per share of
$15.56 $0.28 - Net debt-to-equity increased to 1.22x for quarter ending June 30, 2024, up from 1.04x as of March 31, 2024
- Also announced today that OBDE entered into a definitive merger agreement with Blue Owl Capital Corporation (NYSE: OBDC)
"In our first full quarter as a publicly traded company, we continued to make significant progress towards growing our portfolio, deploying capital into attractive opportunities which enabled OBDE to deliver a strong return on equity of
OBDC to Merge with OBDE
OBDC and OBDE today announced that they have entered into a definitive merger agreement, with OBDC as the surviving company, subject to certain shareholder approvals and other customary closing conditions. Following the recommendation of each of their special committees, the boards of directors of both OBDC and OBDE have unanimously approved the transaction. A separate press release and investor presentation can be found on the Company's website, www.BlueOwlCapitalCorporationIII.com.
Dividend Declarations
The Company's Board declared a third quarter 2024 dividend of
In addition, and as previously announced, the Board declared a series of five special dividends of
PORTFOLIO AND INVESTING ACTIVITY
For the three months ended June 30, 2024, new investment commitments totaled
For the three months ended June 30, 2024, the principal amount of new investments funded was
For the three months ended March 31, 2024, the principal amount of new investments funded was
As of June 30, 2024 and March 31, 2024, the Company had investments in 207 and 188 portfolio companies with an aggregate fair value of
As of June 30, 2024, based on fair value, the portfolio consisted of
As of March 31, 2024, based on fair value, the portfolio consisted of
As of June 30, 2024 and March 31, 2024, approximately
As of June 30, 2024 and March 31, 2024, the weighted average total yield of accruing debt and income-producing securities at fair value (which includes interest income and amortization of fees and discounts) was
As of June 30, 2024, loans on non-accrual represented
RESULTS OF OPERATIONS FOR THE SECOND QUARTER ENDED JUNE 30, 2024
Investment Income
Investment income increased to
Expenses
Total expenses increased to
Liquidity and Capital Resources
As of June 30, 2024, the Company had
(1) | Dividend yield reflects regular Q2'24 dividend of | |||||||||||||||||||
CONFERENCE CALL AND WEBCAST INFORMATION
Conference Call Information:
The conference call will be broadcast live on August 8, 2024 at 11:00 a.m. Eastern Time on the Events section of OBDE's website at www.BlueOwlCapitalCorporationIII.com. Please visit the website to test your connection before the webcast.
Participants are also invited to access the conference call by dialing one of the following numbers:
- Domestic: (877) 407-9714
- International: +1 (201) 689-8865
All callers will need to reference "Blue Owl Capital Corporation III" once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.
Replay Information:
An archived replay will be available for 14 days via a webcast link located on the Events section of OBDE's website, and via the dial-in numbers listed below:
- Domestic: (877) 660-6853
- International: +1 (201) 612-7415
- Conference ID: 13747167
ABOUT BLUE OWL CAPITAL CORPORATION III
Blue Owl Capital Corporation III (NYSE: OBDE) is a specialty finance company focused on lending to
Certain information contained herein may constitute "forward-looking statements" that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about OBDE, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as "anticipates," "expects," "intends," "plans," "will," "may," "continue," "believes," "seeks," "estimates," "would," "could," "should," "targets," "projects," "outlook," "potential," "predicts" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond OBDE's control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in OBDE's filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which OBDE makes them. OBDE does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
INVESTOR CONTACTS
Investor Contact:
BDC Investor Relations
Michael Mosticchio
credit-ir@blueowl.com
Media Contact:
Prosek Partners
Josh
pro-blueowl@prosek.com
FINANCIAL HIGHLIGHTS | ||||||
For the Three Months Ended | ||||||
($ in thousands, except per share amounts) | June 30, 2024 | March 31, 2024 | December 31, 2023 | |||
Investments at Fair Value | $ 4,346,302 | $ 3,987,997 | $ 3,590,701 | |||
Total Assets | $ 4,502,757 | $ 4,180,538 | $ 3,761,097 | |||
Net Asset Value Per Share | $ 15.56 | $ 15.65 | $ 15.56 | |||
Investment Income | $ 123,175 | $ 113,445 | $ 111,542 | |||
Net Investment Income | $ 50,381 | $ 48,275 | $ 71,647 | |||
Net Income | $ 39,615 | $ 54,061 | $ 80,557 | |||
Net Investment Income Per Share | $ 0.41 | $ 0.39 | $ 0.58 | |||
Net Realized and Unrealized Gains (and Losses) Per Share | $ (0.09) | $ 0.05 | $ 0.07 | |||
Net Income Per Share | $ 0.32 | $ 0.44 | $ 0.66 | |||
Distributions Declared from Net Investment Income Per Share | $ 0.35 | $ 0.35 | $ 0.49 | |||
Weighted Average Yield of Accruing Debt and Income Producing Securities at Fair Value | 11.5 % | 11.7 % | 12.1 % | |||
Weighted Average Yield of Accruing Debt and Income Producing Securities at Amortized Cost | 11.5 % | 11.7 % | 12.1 % | |||
Percentage of Debt Investments at Floating Rates at Fair Value | 97.5 % | 98.2 % | 98.1 % | |||
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES | ||||
(Amounts in thousands, except share and per share amounts) | ||||
June 30, 2024 (Unaudited) | December 31, 2023 | |||
Assets | ||||
Investments at fair value | ||||
Non-controlled, non-affiliated investments (amortized cost of | $ 4,232,211 | $ 3,498,800 | ||
Non-controlled, affiliated investments (amortized cost of | 114,091 | 91,901 | ||
Total investments at fair value (amortized cost of | 4,346,302 | 3,590,701 | ||
Cash | 120,344 | 141,448 | ||
Interest receivable | 31,482 | 25,147 | ||
Prepaid expenses and other assets | 4,629 | 3,801 | ||
Total Assets | $ 4,502,757 | $ 3,761,097 | ||
Liabilities | ||||
Debt (net of unamortized debt issuance costs of | $ 2,434,508 | $ 1,754,496 | ||
Distribution payable | 43,175 | 60,779 | ||
Management fee payable | 15,491 | 4,517 | ||
Incentive fee payable | 10,687 | — | ||
Payables to affiliates | 4,197 | 896 | ||
Payable for investments purchased | 37,157 | — | ||
Accrued expenses and other liabilities | 38,382 | 29,297 | ||
Total Liabilities | $ 2,583,597 | $ 1,849,985 | ||
Commitments and contingencies (Note 7) | ||||
Net Assets | ||||
Common shares | 1,234 | 1,228 | ||
Additional paid-in-capital | 1,837,067 | 1,829,029 | ||
Accumulated undistributed (overdistributed) earnings | 80,859 | 80,855 | ||
Total Net Assets | $ 1,919,160 | $ 1,911,112 | ||
Total Liabilities and Net Assets | $ 4,502,757 | $ 3,761,097 | ||
Net Asset Value Per Share | $ 15.56 | $ 15.56 | ||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||
(Amounts in thousands, except share and per share amounts) | ||||||
(Unaudited) | ||||||
For the Three Months | For the Six Months | |||||
2024 | 2023 | 2024 | 2023 | |||
Investment Income | ||||||
Investment income from non-controlled, non-affiliated investments: | ||||||
Interest income (excluding payment-in-kind ("PIK") interest income) | $ 103,848 | $ 84,665 | $ 199,478 | $ 164,205 | ||
PIK interest income | 11,341 | 12,389 | 20,903 | 24,872 | ||
Dividend income | 4,706 | 6,395 | 10,031 | 11,374 | ||
Other income | 1,003 | 2,246 | 2,696 | 3,305 | ||
Total investment income from non-controlled, non-affiliated investments | 120,898 | 105,695 | 233,108 | 203,576 | ||
Investment income from non-controlled, affiliated investments: | ||||||
Interest income (excluding PIK interest income) | 381 | — | 789 | — | ||
PIK interest income | — | — | 29 | — | ||
Dividend income | 1,894 | 495 | 2,689 | 495 | ||
Other income | 2 | — | 5 | — | ||
Total investment income from non-controlled, affiliated investments | 2,277 | 495 | 3,512 | 495 | ||
Total Investment Income | 123,175 | 106,190 | 236,620 | 204,071 | ||
Expenses | ||||||
Interest expense | 42,707 | 29,713 | 78,485 | 58,252 | ||
Management fee | 15,491 | 4,463 | 27,342 | 8,856 | ||
Performance based incentive fees | 10,687 | — | 17,827 | — | ||
Professional fees | 1,610 | 1,316 | 3,194 | 2,575 | ||
Directors' fees | 227 | 197 | 455 | 393 | ||
Listing advisory fees | — | — | 6,040 | — | ||
Other general and administrative | 1,756 | 640 | 3,907 | 1,371 | ||
Total Expenses | 72,478 | 36,329 | 137,250 | 71,447 | ||
Net Investment Income (Loss) Before Taxes | 50,697 | 69,861 | 99,370 | 132,624 | ||
Income tax expense (benefit), including excise tax expense (benefit) | 316 | 209 | 714 | 1,393 | ||
Net Investment Income (Loss) After Taxes | $ 50,381 | $ 69,652 | $ 98,656 | $ 131,231 | ||
Net Realized and Change in Unrealized Gain (Loss) | ||||||
Net change in unrealized gain (loss): | ||||||
Non-controlled, non-affiliated investments | (10,525) | 172 | (2,816) | 23,971 | ||
Non-controlled, affiliated investments | 154 | (402) | 1,689 | (376) | ||
Translation of assets and liabilities in foreign currencies | 545 | 115 | 268 | 167 | ||
Income tax (provision) benefit | — | — | 1 | (1) | ||
Total Net Change in Unrealized Gain (Loss) | (9,826) | (115) | (858) | 23,761 | ||
Net realized gain (loss): | ||||||
Non-controlled, non-affiliated investments | 137 | 33 | (3,252) | (11,465) | ||
Foreign currency transactions | (1,077) | (40) | (870) | (21) | ||
Total Net Realized Gain (Loss) | (940) | (7) | (4,122) | (11,486) | ||
Total Net Realized and Change in Unrealized Gain (Loss) | (10,766) | (122) | (4,980) | 12,275 | ||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ 39,615 | $ 69,530 | $ 93,676 | $ 143,506 | ||
Earnings (Loss) Per Share - Basic and Diluted | $ 0.32 | $ 0.57 | $ 0.76 | $ 1.18 | ||
Weighted Average Shares Outstanding - Basic and Diluted | 123,322,207 | 121,873,455 | 123,175,249 | 121,539,291 | ||
PORTFOLIO AND INVESTMENT ACTIVITY | |||
For the Three Months Ended | |||
($ in thousands) | 2024 | 2023 | |
New investment commitments | |||
Gross originations | $ 1,016,705 | $ 62,258 | |
Less: Sell downs | — | (566) | |
Total new investment commitments | $ 1,016,705 | $ 61,692 | |
Principal amount of investments funded: | |||
First-lien senior secured debt investments | 714,903 | 39,760 | |
Second-lien senior secured debt investments | 8,000 | — | |
Unsecured debt investments | 34,875 | — | |
Preferred equity investments | 488 | 10,000 | |
Common equity investments | 7,432 | 4,600 | |
Total principal amount of investments funded | $ 765,698 | $ 54,360 | |
Principal amount of investments sold or repaid: | |||
First-lien senior secured debt investments | (253,012) | (57,269) | |
Second-lien senior secured debt investments | (29,576) | (2,400) | |
Unsecured debt investments | (31,606) | — | |
Preferred equity investments | (24,153) | (1,033) | |
Common equity investments | — | (195) | |
Total principal amount of investments sold or repaid | $ (338,347) | $ (60,897) | |
Number of new investment commitments in new portfolio companies(1) | 31 | 4 | |
Average new investment commitment amount | $ 24,725 | $ 9,147 | |
Weighted average term for new debt investment commitments (in years) | 5.8 | 3.8 | |
Percentage of new debt investment commitments at floating rates | 96.4 % | 100.0 % | |
Percentage of new debt investment commitments at fixed rates | 3.6 % | — % | |
Weighted average interest rate of new debt investment commitments(2) | 10.7 % | 11.7 % | |
Weighted average spread over applicable base rate of new floating rate debt investment commitments | 5.2 % | 6.4 % | |
________________ |
(1) Number of new investment commitments represents commitments to a particular portfolio company. |
(2) For the three months ended June 30, 2024 and 2023, assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was |
Forward-Looking Statements
Some of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial condition of OBDC or OBDE or the two-step merger (collectively, the "Mergers") of OBDE with and into OBDC. The forward-looking statements may include statements as to: future operating results of OBDC and OBDE and distribution projections; business prospects of OBDC and OBDE and the prospects of their portfolio companies; and the impact of the investments that OBDC and OBDE expect to make. In addition, words such as "anticipate," "believe," "expect," "seek," "plan," "should," "estimate," "project" and "intend" indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with (i) the timing or likelihood of the Mergers closing; (ii) the expected synergies and savings associated with the Mergers; (iii) the ability to realize the anticipated benefits of the Mergers, including the expected accretion to net investment income and the elimination or reduction of certain expenses and costs due to the Mergers; (iv) the percentage of OBDC and OBDE shareholders voting in favor of the proposals submitted for their approval; (v) the possibility that competing offers or acquisition proposals will be made; (vi) the possibility that any or all of the various conditions to the consummation of the Mergers may not be satisfied or waived; (vii) risks related to diverting management's attention from ongoing business operations; (viii) the risk that shareholder litigation in connection with the Mergers may result in significant costs of defense and liability; (ix) changes in the economy, financial markets and political environment; (x) the impact of geo-political conditions, including revolution, insurgency, terrorism or war, including those arising out of the ongoing war between
Additional Information and Where to Find It
In connection with the Merger, OBDC and OBDE plan to file with the SEC and mail to their respective shareholders a joint proxy statement/prospectus (the "Joint Proxy Statement") and OBDC plan to file with the SEC a registration statement on Form N-14 (the "Registration Statement") that will include the Joint Proxy Statement and a prospectus of OBDC. The Joint Proxy Statement and the Registration Statement will contain important information about OBDC, OBDE, the Merger and related matters. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. SHAREHOLDERS OF OBDC AND OBDE ARE URGED TO READ THE JOINT PROXY STATEMENT AND THE REGISTRATION STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT OBDC, OBDE, THE MERGER AND RELATED MATTERS. Investors and security holders will be able to obtain the documentation filed with the SEC free of charge at the SEC's website, http://www.sec.gov and for documents filed by OBDC, from OBDC's website at https://www.blueowlcapitalcorporation.com and for documents filed by OBDE, from OBDE's website at https://www.blueowlcapitalcorporationiii.com.
Participation in the Solicitation
OBDC, its directors, certain of its executive officers and certain employees and officers of Blue Owl Credit Advisors LLC and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Merger. Information about directors and executive officers of OBDC is set forth in its proxy statement for its 2024 Annual Meeting of Shareholders, which was filed with the SEC on March 28, 2024. OBDE, its directors, certain of its executive officers and certain employees and officers of Blue Owl Diversified Credit Advisors LLC and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Merger. Information about directors and executive officers of OBDE is set forth in its proxy statement for its 2024 Annual Meeting of Shareholders, which was filed with the SEC on March 28, 2024. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the OBDC and OBDE shareholders in connection with the Merger will be contained in the Joint Proxy Statement when such document becomes available. These documents may be obtained free of charge from the sources indicated above.
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SOURCE Blue Owl Capital Corporation III
FAQ
What was Blue Owl Capital III's (OBDE) net investment income per share in Q2 2024?
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