Blue Owl Capital Co. III Declares Special Dividend and Provides Merger Update

Blue Owl Capital Corporation III (NYSE: OBDE) made significant announcements in its recent 8-K filing on December 16, 2024. The company declared a special dividend of $0.52 per share, as disclosed in Exhibit 99.1 attached to the filing. This dividend will be distributed in cash to shareholders of record on or before January 31, 2025, with expectations for an earlier payout if the proposed merger with Blue Owl Capital Corporation (NYSE: OBDC) closes before that date.

The special dividend is directly tied to OBDE’s remaining undistributed taxable income at the merger’s closure, encompassing any previously unpaid special dividends outlined during OBDE’s listing in January 2024. Craig W. Packer, Chief Executive Officer at OBDE, emphasized the company’s commitment to shareholder value through this special dividend, reflecting the company’s robust performance and expected post-merger benefits.

Blue Owl Capital Corporation III, specializing in lending to U.S. middle-market companies, had investments in 185 portfolio companies with a combined fair value of $4.2 billion as of September 30, 2024. External management is provided by Blue Owl’s Credit platform affiliate, Blue Owl Diversified Credit Advisors LLC, a Securities and Exchange Commission-registered investment adviser.

However, the 8-K filing also highlighted forward-looking statements with potential risks and uncertainties. Factors such as the timing and likelihood of the mergers closing, synergies, shareholder approval, economic conditions, and geopolitical events could influence the merger outcomes, impacting OBDC, OBDE, and their combined prospects post-merger.

In conjunction with the merger and dividend declarations, additional documents will be filed and distributed to shareholders by OBDC and OBDE. Shareholders are encouraged to carefully review the Joint Proxy Statement and Registration Statement, containing critical details about the merger and related matters.

For further information, individuals can access the SEC’s website for documentation filed by OBDC and OBDE. Participants in the solicitation of proxies include directors, executive officers, and employees of OBDC, OBDE, and their affiliated entities, as detailed in the proxy statements for their 2024 Annual Meeting of Shareholders.

Contact Information:
Investor Relations: BDC Investor Relations – Michael Mosticchio – [email protected]
Media Relations: Prosek Partners – Josh Clarkson – [email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Blue Owl Capital Co. III’s 8K filing here.

About Blue Owl Capital Co. III

Blue Owl Capital Corporation is a specialty finance company focused on lending to U.S. middle-market companies. Blue Owl Capital Corporation is based in NEW YORK.