secwatch.observer — SEC 8-K summary
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Issuer:     Blue Owl Capital Corp (OBDC)
CIK:        0001655888
Form:       8-K
Filed at:   2025-11-05T23:59:59+00:00
Accession:  0001193125-25-267102
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Owl Capital to merge with OBDC II; creates second-largest public BDC with ~$18.9B in assets
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- OBDC to acquire OBDC II in all-stock merger; exchange ratio based on NAV and OBDC market price before close.
- Pro forma portfolio ~$18.9B at fair value across 239 companies; 80% senior secured, 1.3% non-accrual.
- Expects ~$5M annual cost synergies; adviser to reimburse up to $3M of deal expenses if merger closes.
- Merger expected to close in Q1 2026 subject to OBDC II shareholder vote and regulatory approvals.
- OBDC board approved new $200M share repurchase program valid for 18 months; prior $150M program ends Nov 7, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1655888/000119312525267102/0001193125-25-267102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1655888/000119312525267102/d93879d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-267102

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