M&A
confidence high
sentiment positive
materiality 0.85
Blue Owl Technology Finance Corp. and OTF II sign merger at 0.9305 exchange ratio
Blue Owl Technology Finance Corp.
- Merger of OTF and OTF II with OTF surviving; expected close Q2 2025.
- Exchange ratio based on NAV: illustrative 0.9305 OTF shares per OTF II share; pro forma ownership 45.3% OTF / 54.7% OTF II.
- Combined pro forma total assets ~$15.8B as of Sept 30, 2024; 84% investment overlap.
- Expected annual cost savings: >$4M first year, $15M long-term from lower financing; adviser reimbursement cap $4.75M.
- Combined portfolio: 77% first lien, <0.1% non-accrual; 93% in top two internal ratings.