OBDC to acquire OBDE in stock-for-stock merger expected to close Q1 2025

Blue Owl Capital Corp

Combined pro forma total assets $18.4B, second largest publicly traded BDC by total assets.
Exchange ratio based on NAV per share and OBDC market price; potential premium for OBDE if OBDC trades above NAV.
Expected to be accretive to NII with operational savings >$5M in first year; termination fees $57.6M (OBDE) or $179.8M (OBDC).
Requires shareholder and regulatory approvals; OBDC's advisor to reimburse up to $4.25M in expenses if closed.
OBDC's existing $150M share repurchase program remains; combined company retains OBDC ticker.

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