BLUE OWL CAPITAL ANNOUNCES PRICING OF SECONDARY OFFERING OF CLASS A COMMON SHARES

Rhea-AI Summary

Blue Owl Capital (NYSE: OWL) has priced a secondary offering of 10,698,180 shares of its Class A common stock at $11.50 per share, totaling approximately $123 million. The offering, led by NBSH Blue Investments II, LLC, is set to close around June 6, 2022, pending customary conditions. Blue Owl will not receive any proceeds from this sale. Additionally, there's an option for underwriters to purchase up to 1,604,727 extra shares. The offering follows a registration statement filed with the SEC. Blue Owl manages $102 billion in assets as of March 31, 2022.

Positive

• Successful pricing of a secondary offering at $11.50 per share, totaling approximately $123 million.
• Potential for additional shares to be sold through underwriters' option, totaling 1,604,727 shares.
• Strong financial position with $102 billion in assets under management as of March 31, 2022.

Negative

• None.

NEW YORK, June 2, 2022 /PRNewswire/ -- Blue Owl Capital Inc. (the "Company" or "Blue Owl Capital") (NYSE: OWL) today announced the pricing of the previously announced underwritten secondary offering by NBSH Blue Investments II, LLC (the "Selling Stockholder") of 10,698,180 shares of the Company's Class A common stock at a price to the public of $11.50 per share (the "Offering"). The Offering is expected to close on or about June 6, 2022, subject to the satisfaction of customary closing conditions. In addition, the Selling Stockholder has granted the underwriters a 30-day option to purchase up to an additional 1,604,727 shares of Class A common stock at the public offering price, less underwriting discounts. The Selling Stockholder will receive all of the proceeds from the Offering. Blue Owl is not selling any of its Class A common stock in the Offering and will not receive any proceeds from the Offering, including from any exercise by the underwriters of their option to purchase additional ordinary shares. In addition, none of Blue Owl's directors or officers sold any shares of Class A common stock in this offering.

BofA Securities and Citigroup are acting as lead joint bookrunning managers for the Offering. BMO Capital Markets, Deutsche Bank Securities, Morgan Stanley, MUFG, SMBC Nikko, Truist Securities,

UBS Investment Bank and Wells Fargo Securities are acting as passive joint bookrunning managers for the Offering. BNP PARIBAS, SOCIETE GENERALE and Telsey Advisory Group are acting as co-managers for the Offering.

A registration statement (including a prospectus) relating to the Class A common stock was initially filed with the Securities and Exchange Commission ("SEC") on June 17, 2021, which was declared effective on August 2, 2021 and amended by Post-Effective Amendment No. 1 filed on April 21, 2022, which was declared effective on May 2, 2022 (together with all supplements, the "Prospectus"). A copy of the preliminary prospectus supplement relating to the Offering was filed with the SEC on June 1, 2022. The Offering will be made only by means of a prospectus supplement and the accompanying Prospectus. Before you invest, you should read the registration statement, prospectus and prospectus supplement the Company has made available with the SEC for information about the Company and the Offering.  You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the Prospectus and preliminary prospectus supplement may be obtained from the office of BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001 or via e-mail at dg.prospectus_requests@bofa.com, or the office of Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone: (800) 831-9146.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these Class A common shares, nor shall there be any sale of these Class A common shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Blue Owl Capital

Blue Owl is a global alternative asset manager with $102.0 billion of assets under management as of March 31, 2022. Anchored by a strong permanent capital base, the firm deploys private capital across Direct Lending, GP Capital Solutions and Real Estate strategies on behalf of Institutional and Private Wealth clients. Blue Owl's flexible, consultative approach helps position the firm as a partner of choice for businesses seeking capital solutions to support their sustained growth. The firm's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Blue Owl employs over 400 people across 10 offices globally.

Forward-Looking Statements

Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or the Company's future performance or financial condition. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These statements are not guarantees of future performance, condition or results and involve a number of risks, assumptions and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company's filings with the Securities and Exchange Commission. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date of this press release. Blue Owl Capital undertakes no duty to update any forward-looking statements made herein.

Investor Contact
Ann Dai
Head of Investor Relations
owlir@blueowl.com

Media Contact
Prosek Partners
David Wells / Nick Theccanat
Pro-blueowl@prosek.com

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SOURCE Blue Owl Capital

FAQ

What is the pricing of Blue Owl Capital's secondary offering?

Blue Owl Capital announced the pricing of its secondary offering at $11.50 per share.

When is the closing date for Blue Owl Capital's offering?

The offering is expected to close on or about June 6, 2022.

How many shares are being offered in Blue Owl Capital's secondary offering?

The secondary offering includes 10,698,180 shares of Class A common stock.

Who is the selling stockholder in Blue Owl Capital's recent offering?

The selling stockholder is NBSH Blue Investments II, LLC.

Will Blue Owl Capital receive any proceeds from the secondary offering?

No, Blue Owl Capital will not receive any proceeds from this offering.