Owl Rock Capital Issues Drawdown Notice to Investors
September 20, 2017 | Luke Schmidt | Blue Vault
On September 15, 2017, Owl Rock Capital Corporation delivered a capital drawdown notice to its investors relating to the sale of approximately 9,842,519.80 shares of the Company’s common stock, par value $0.01 per share for an aggregate offering price of $150 million ($15.24 per share). The sale is expected to close on or around September 28, 2017. Owl Rock Capital Corporation’s Q2 2017 10-Q showed a net asset value per common share of $15.15. The Company conducts private offerings of its common shares to accredited investors.
The sale of Common Stock is being made pursuant to subscription agreements entered into by Owl Rock and its investors. Under the terms of the subscription agreements, investors are required to fund drawdowns to purchase shares of common stock up to the amount of their respective capital commitments on an as-needed basis with a minimum of 10 business days’ prior notice to investors.
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