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.
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...