SPACInsider Logo
Blue Owl Capital (OWL) Announces Results of Redemption of Warrants
by Marlena Haddad on 2022-08-24 at 5:47pm

Blue Owl (NYSE:OWL), which completed its combination with Altimar Acquisition Corp. in May 2021, announced the results of the redemption of its outstanding redeemable warrants.

Pursuant to the amended Warrant Agreement, Blue Owl redeemed its warrants for a redemption price of $0.10 per Public Warrant at 5:00 p.m. EST on August 18, 2022. The redemption was triggered due to the last sales price of the Class A Shares reaching at least $10.00 per share on each of twenty trading days within a thirty-day trading period ending on the third trading day prior to July 18, 2022.

Of the 14,159,048 warrants that were outstanding on July 18, 2022, approximately 14,553 were exercised for cash at $11.50 per share in exchange for 14,553 Class A Shares and 8,961,029 were exercised on a cashless basis in exchange for 2,141,601 Class A Shares. Blue Owl was able to generate $171,185 in total proceeds from the exercises of the public warrants. Following the redemption, the company expects to have zero public warrants, 5 million private placement warrants and 442,117,260 of Class A Shares outstanding.

Altimar originally announced its $12.1 billion combination with Owl Rock Capital Group and the Dyal Capital Partners division of Neuberger Berman Group LLC to form Blue Owl Capital Inc., an alternative asset management firm with over $45.0 billion in assets under management, in December 2020. New York-based Owl Rock Capital Group is a direct lending platform with approximately $23.7 billion of assets under management. Owl Rock’s platform consists of multiple investment funds and products including business development companies.

Blue Owl Capital Inc.’s Dyal Capital arm was recently in preliminary discussions to acquire a stake in private equity firm PAI Partners.


Recent Posts
by Kristi Marvin on 2023-01-28 at 1:59pm

Terms Tracker for the Week Ending January 27, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re coming up on the end of January, the first month of the year, and to-date no new S-1s have been filed. Additionally, the number...

by Marlena Haddad on 2023-01-27 at 11:34am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Circle spokesperson denies blaming SEC for failed deal, BuzzFeed CEO says AI-powered content will be part of core business, and FaZe Clan faces possible delisting Circle Spokesperson Denies Blaming SEC for Failed $9 Billion Deal...

by Nicholas Alan Clayton on 2023-01-27 at 10:00am

Health Sciences 2 (NASDAQ:HSAQ) announced that it closed its combination with Orchestra BioMed on January 26. HSAQ ahead of its vote pre-announced redemption figures of 1,597,888 shares equating to 67.7% redemptions, however, that’s still subject to change.  However, today it was noted that Orchestra BioMed is to receive $70 million in gross proceeds including $20...

by Kristi Marvin on 2023-01-27 at 7:33am

Carbon capture technology has long been talked about, and it is finally in operation with LanzaTech among the pioneers. Its plants are turning potential emissions into clothing, household goods and sustainable fuels. SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with...

by Nicholas Alan Clayton on 2023-01-27 at 7:30am

In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributor Anthony Sozzi. Thirty months does not sound like that long, but it’s been a...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved