Blue Owl Technology Income Corp. Completes $72.3 Million Share Repurchase in Strategic Buyback

The company’s recent tender offer includes repurchases of Class S, Class D, and Class I shares.

October 26, 2024

Blue Owl Technology Income Corp. Finalizes Major Share Repurchase

Blue Owl Technology Income Corp. has completed a major share repurchase totaling approximately $72.3 million through a tender offer that closed on September 30, 2024. The repurchase encompassed shares across Class S, Class D, and Class I, each bought at a net price of $10.43 per share. Through this offer, Blue Owl acquired around 6.93 million shares, providing liquidity to participating shareholders in the form of non-interest-bearing promissory notes issued by DST Systems Inc., its transfer agent.

Strategic Move in Share Buyback Program

The tender offer is part of Blue Owl’s broader strategic initiative to optimize capital structure and return value to investors. This share buyback effort allows the company to repurchase shares directly from shareholders, enhancing capital stability and providing a flexible exit option. By managing its outstanding shares, Blue Owl aims to solidify its market standing while demonstrating a strong commitment to shareholders and confidence in its business outlook.

Broader Implications and Company Outlook

The tender offer aligns with Blue Owl Technology Income Corp.'s long-term growth strategy, allowing the company to adjust its capital deployment while offering shareholders liquidity. As the company continues to refine its financial strategies, this repurchase provides a signal of Blue Owl’s ongoing confidence in its trajectory and commitment to maintaining robust financial management practices.