Blue Owl Capital Inc. Announces Redemption of Public Warrants

NEW YORK, July 18, 2022 /PRNewswire/ — Blue Owl Capital Inc. (NYSE: OWL) (“Blue Owl” or the “Company”) today announced that the Company will redeem all outstanding redeemable warrants (the “Public Warrants ”) to purchase shares of the Class A common shares of the Company, par value $0.0001 per share (the “Class A Shares”), pursuant to the Amended and Restated Warrant Agreement, dated May 19, 2021 (the “Warrant Agreement”), by and between the Company and Computershare Inc. and its wholly owned subsidiary, Computershare Trust Company, NA, as warrant agent (the “Warrant Agent Subscription”), for a redemption price of $0.10 by Public Warrant (the “Redemption Price”), which remain in circulation at 5:00 p.m. New York City It’s time August 18, 2022 (the “Redemption Date”).

Pursuant to the warrant agreement, the Company has the right to redeem all outstanding public warrants if the last sale price of the Class A Shares was at least $10.00 per share on the trading day preceding the date on which notice of redemption is given. This share price performance target has been met. At the request of the Company, the Warrant Agent will deliver a redemption notice to each of the registered holders of the outstanding Public Warrants. Certain warrants to purchase Class A Shares which have been issued pursuant to a private placement (the “Private Placement Warrants” and, together with the Public Warrants, the “Private Placement Warrants” ”) are not subject to redemption under the Warrant Agreement and may remain outstanding after redemption. After the redemption date, the warrants are expected to be delisted from the New York Stock Exchange.

Pursuant to the Warrant Agreement, upon delivery of notice of redemption, the public warrants may be exercised either in cash or cashless. Accordingly, holders may continue to exercise Public Warrants and receive Class A Shares in exchange for cash payment of $11.50 by exercise price of the warrants. Alternatively, a holder may surrender public warrants for such number of Class A Shares (the fraction determined by reference to the Warrant Agreement and described in the Redemption Notice) that such holder would have been entitled to receive on a cash exercise of a Garantir public warrant. Holders of Public Warrants who elect a cashless “compensatory” exercise of the Public Warrants will receive 0.239 Class A Shares for each Public Warrant tendered for exercise. The procedures for exercising are further described in the Redemption Notice and Purchase Election included therein.

The number of Class A Shares each Warrantholder who exercises will receive pursuant to the cashless exercise (in lieu of paying the $11.50 cash exercise price per share) was calculated in accordance with the terms of the Warrant Agreement based on the fair market value of the Class A Shares and the applicable term to expiration of the Public Warrants . If a holder of Public Warrants were, after taking into account all of his or her Public Warrants exercised at the same time, to be entitled to receive a fractional interest in a Class A Share, the number of shares which the holder will have the right to receive will be rounded to the nearest whole number of shares.

None of Blue Owl, its board of directors or its employees has made or makes any representation or recommendation to any holder of public warrants as to the advisability of exercising, whether in cash or without cash, or refrain from exercising public warrants.

Termination of public office rights

All unexercised public warrants at 5:00 p.m. New York City on the redemption date will be void and non-exercisable and the holders will have no rights in respect of such public warrants except to receive the redemption price.

How to trade

The issuance of the Class A Shares underlying the Public Warrants has been registered by Blue Owl under the Securities Act of 1933, as amended, and is covered by a registration statement filed on Form S-4 with and declared effective by the Securities and Exchange Exchange. Commission (registration number 333-251866). The exercise of public warrants held in “street name” must be directed through the warrant holder’s broker. In addition to the broker, questions can also be directed to Computershare Trust Company, NA, 150 Royall Street Suite 1600, Canton, Massachusetts 02021 (for next day delivery) or PO Box 43011, Providence, RI 02940-3011 (for regular delivery), or by phone at (866) 690-8162 (for toll free) or +1 (781) 575-4019 (for international). Questions may also be directed to the Company Information Agent, Georgeson LLC, by mail at 1290 Avenue of the Americas, 9th Floor, New York, NY10104, or by phone at 800-561-3947.

Additional information is available in the Investor Resources section of Blue Owl’s website at www.blueowl.com.

About Blue Owl Capital Inc.

Blue Owl is a global alternative asset manager with $102.0 billion of assets under management at March 31, 2022. Anchored by a strong permanent capital base, the firm deploys private capital in direct lending, GP Capital Solutions and real estate strategies on behalf of institutional and private clients. Blue Owl’s flexible and consultative approach helps position the company as a partner of choice for businesses seeking capital solutions to support their sustained growth. The firm’s management team is comprised of seasoned investment professionals with over 25 years of experience building alternative investment businesses. Blue Owl employs over 400 people in 10 offices around the world.

No offer or solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, and there will be no sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

Forward-looking statements

Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that relate to future events or the future performance or financial condition of the Company. When used in this press release, the words “estimates”, “plans”, “expects”, “anticipates”, “expects”, “plans”, “intends”, “believes “, “seek”, “may”, “will”, “should”, “should”, “future”, “propose”, “target”, “goal”, “objective”, “perspective” and variations of these similar words or phrases (or negative versions of such words or phrases) are intended to identify forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks, assumptions and uncertainties. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date of this press release. Blue Owl undertakes no obligation to update any forward-looking statements made herein.

Contact Investor
Ann Dai
Head of Investor Relations
[email protected]

Media Contact
Prosek Partners
David Wells / Nick Theccanat
[email protected]

SOURCE Blue Owl Capital