Filing Overview
Registrant: Altimar Acquisition Corporation, although the request metadata identifies Blue Owl Capital Inc.
Filing: Form 8-K, Item 8.01 (Other Events), dated March 18, 2021, reporting an event occurring March 17, 2021. Altimar is a Cayman Islands special purpose acquisition company whose securities traded on the NYSE under ATAC.U, ATAC, and ATAC.W.
Business Context and Transaction Update
Owl Rock Capital announced that shareholders of each of its four requisite business development companies approved new investment advisory agreements. The agreements are required because of the indirect change of control of the investment advisers expected to occur upon completion of the transactions contemplated by the Business Combination Agreement announced by Altimar on December 23, 2020, involving Owl Rock and Dyal.
The filing does not report operating results for Blue Owl, Owl Rock, or Altimar.
Financial Metrics and Liquidity
- Revenue, profit, margins, and cash flow: The filing does not provide financial results or margin information.
- Debt and liquidity: No debt or liquidity balances are reported. The filing notes that the amount remaining in Altimar’s trust account after any shareholder redemptions could affect the proposed transaction and its anticipated benefits.
- Other metrics: No guidance, valuation, transaction consideration, share issuance, or redemption figures are provided in the filing text.
Material Changes, Outlook, and Risks
- The reported shareholder approvals represent a condition-related development for the proposed business combination and advisory-agreement changes; they do not establish that the transaction has closed.
- Altimar stated that it had filed a Form S-4 registration statement containing a proxy statement and prospectus and expected to provide a definitive proxy statement/prospectus seeking any required Altimar shareholder approval.
- Key risks include failure to complete the transactions, failure to obtain Altimar shareholder approval, reduced trust-account funds due to redemptions, inability to realize anticipated benefits, COVID-19 and broader economic conditions, litigation, costs and delays, and failure to satisfy NYSE listing standards.
- The filing contains forward-looking statements that are subject to substantial uncertainties and does not provide quantitative financial guidance.
Investor Verification Checklist
- Verify the definitive transaction documents, including the Form S-4, proxy statement/prospectus, amendments, and required shareholder approvals.
- Confirm whether the business combination and related change-of-control transactions ultimately closed and review the final transaction structure.
- Review Altimar’s trust-account balance, shareholder redemption levels, financing sources, and resulting liquidity.
- Review the approved investment advisory agreements and their economic and governance terms.
- Assess litigation, regulatory, listing, and other closing conditions described in subsequent SEC filings.