Owl Rock Capital Corporation II, a non-traded business development company, reported to the Securities and Exchange Commission its cumulative total return since inception and new offering price.
The company indicated that the cumulative total return for the period April 4, 2017 to June 30, 2020 was 21.4 percent without upfront sales load and 15.3 percent with maximum upfront sales load.
Owl Rock Capital Corporation II also increased its public offering price from $9.14 per share to $9.16 per share. The increase in the public offering price will be effective as of the company’s August 19, 2020 weekly closing and first applied to subscriptions in good order from August 13, 2020 through August 19, 2020.
The company determined that an increase in the public offering price per share was warranted following an increase in its net asset value per share to $8.70 as of August 19, 2020. As a result of the increase in the company’s public offering price, the maximum sales load and net proceeds per share will be approximately $0.46 per share and $8.70 per share, respectively.
Owl Rock Capital Corporation II focuses primarily on originating and making loans to, and making debt and equity investments in, U.S. middle market companies. The company invests in senior secured or unsecured loans, subordinated loans or mezzanine loans and, to a lesser extent, equity-related securities which includes common and preferred stock, securities convertible into common stock, and warrants.
The BDC raised approximately $1.2 billion in investor equity, as of June 30, 2020. This includes $900 in seed capital contributed by its adviser, Owl Rock Capital Advisors LLC, in September 2016 and approximately $10 million raised in a private placement from individuals and entities affiliated with the adviser. As of the second quarter of 2020, the company’s investments had a fair value of $1.7 billion.