Business Context and Reporting Period
Blackstone Secured Lending Fund filed a Form 8-K dated September 1, 2021, reporting an unregistered sale of common shares under Item 3.02.
Transaction and Key Financial Terms
- The Fund delivered capital drawdown notices for approximately 13,707,678 common shares.
- The aggregate offering price was approximately $356 million.
- The sale was expected to close on or around September 8, 2021.
- Shares have a par value of $0.001 per share.
- Investors are required to fund drawdowns up to their respective capital commitments as needed, generally with at least 10 business days’ prior notice unless a shorter period is agreed.
Material Changes, Outlook, and Risks
The filing does not provide revenue, profit, cash flow, margin, debt, liquidity, or other operating performance metrics, nor does it provide guidance or a broader business outlook.
The issuance was made pursuant to subscription agreements and was intended to qualify for an exemption from Securities Act registration under Section 4(a)(2) and Regulation D. The Fund stated that it relied in part on investor representations that the investors were accredited investors and that there was no general solicitation or public offering.
Important Facts to Verify
- Whether the approximately $356 million share sale closed on or around September 8, 2021.
- The final number of shares issued and proceeds received.
- The remaining unfunded capital commitments following the drawdown.
- The effect of the capital raise on the Fund’s investment capacity, leverage, and liquidity.
- Any subsequent filing reporting amendments, closing details, or related issuance terms.