Cox Capital Launches Tender Offer for Blue Owl Credit Class I Shares, Up to $206M
OWL is trading near its 52-week low of $7.95 (13% above the low).
Summary
Cox Capital is expanding its liquidity program for retail private markets investors with a tender offer for Class I shares of Blue Owl Credit Income Corp. The offer is capped at $10 million, with an option to accept an additional 2% of shares representing about $196 million more. This provides a liquidity avenue for OCIC shareholders, which is notable given the elevated redemption requests disclosed in Blue Owl's Q2 10-Q. The tender offer could support the share price by absorbing selling pressure and signaling demand for the non-traded BDC's shares.
At the time of this announcement, OWL was trading at $8.97 on NYSE in the Finance sector, with a market capitalization of approximately $14B. The 52-week trading range was $7.95 to $17.33. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.