Filing Summary
Business Context and Reporting Period
Owl Rock Technology Finance Corp. (the filing entity; identified in the request metadata as Blue Owl Technology Finance Corp.) filed a Form 8-K dated March 11, 2020. The filing reports an unregistered sale of equity securities under Item 3.02.
Key Financial and Capitalization Metrics
- The company delivered a capital drawdown notice for approximately 10,040,162 shares of common stock.
- Aggregate offering price: approximately $150 million, implying an offering price of approximately $14.94 per share.
- The sale was expected to close on or around March 24, 2020.
- The transaction would provide additional equity capital; the filing does not provide revenue, profit, cash flow, margin, debt, liquidity, or net asset value information.
Material Changes and Transaction Terms
The issuance is being made pursuant to subscription agreements under which investors must fund drawdowns for shares up to their respective capital commitments on an as-needed basis. The company must provide at least 10 business days’ notice before a drawdown.
The shares are being issued without registration under Section 4(a)(2) of the Securities Act and Regulation D.
Guidance, Outlook, Risks, and Unusual Items
The filing provides no earnings guidance or operating outlook. The principal disclosed item is the pending equity drawdown and its expected closing date. Completion, final share count, and final proceeds may be subject to closing conditions and should be verified.
Investor Verification Items
- Confirm whether the approximately $150 million issuance closed on or around March 24, 2020.
- Verify the final number of shares issued and the final price per share.
- Review subsequent filings for the use of proceeds, changes in capital commitments, and effects on ownership and net asset value per share.
- Confirm the issuer’s corporate name, as the filing identifies the company as Owl Rock Technology Finance Corp., while the request metadata identifies Blue Owl Technology Finance Corp.