Blue Owl Technology Finance Corp. current report, 03 March 2021

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Blue Owl Technology Finance Corp. (formerly Owl Rock Technology Finance Corp.)

Filing: Form 8-K filed March 3, 2021, reporting an event occurring March 3, 2021. The filing identifies the registrant as Owl Rock Technology Finance Corp.; the request metadata refers to Blue Owl Technology Finance Corp.

Business Context and Reporting Period

The company reported a capital drawdown notice relating to an unregistered sale of common stock. This is an event filing, not a periodic financial report, and it does not provide operating results for a reporting period.

Key Financial and Capitalization Metrics

  • Shares offered: Approximately 16,644,475 shares of common stock.
  • Aggregate offering price: Approximately $250 million.
  • Implied price per share: Approximately $15.02, based on the disclosed aggregate offering price and share count.
  • Closing: Expected on or around March 16, 2021.
  • Revenue, profit, cash flow, margins, debt, and liquidity: The filing text does not provide clear values for these items.

Material Changes, Outlook, and Risks

  • Investors are required to fund drawdowns up to their respective capital commitments on an as-needed basis, with at least 10 business days’ prior notice.
  • The issuance is stated to be exempt from Securities Act registration under Section 4(a)(2) and Regulation D.
  • The filing provides no earnings guidance, operational outlook, management discussion of performance, contingencies, or unusual items beyond the planned equity issuance.
  • The transaction will increase common equity and shares outstanding if completed; the filing does not state the resulting total shares outstanding or the intended use of proceeds.

Most Important Facts to Verify

  • Whether the approximately $250 million issuance closed on or around March 16, 2021.
  • The final number of shares issued and the final per-share price.
  • The effect of the issuance on total shares outstanding, net asset value per share, and leverage.
  • The intended use of the capital proceeds.
  • The company’s name and corporate identifiers, given the filing’s use of “Owl Rock Technology Finance Corp.” versus the metadata’s “Blue Owl Technology Finance Corp.”