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Cox Capital Adjusts Commencement Date for Blue Owl Credit Income Corp. Tender Offer

businesswire.com
OBDC The article mentions OBDC's stock price and its discount to NAV, but it is presented as a separate entity from the tender offer concerning OCIC. The information is factual and does not express a positive or negative outlook on OBDC itself.

Cox Capital Adjusts Commencement Date for Blue Owl Credit Income Corp. Tender Offer CONSHOHOCKEN, Pa.--( BUSINESS WIRE)--Cox Capital Partners (“Cox Capital”) announced that Cox Capital Retail Secondaries Fund I, LP (the “Purchaser”), a private investment fund managed by an affiliate of Cox Capital, has revised the commencement date of its previously announced cash tender offer for Class I shares of Blue Owl Credit Income Corp. (“OCIC”) to October 23, 2026.

The commencement date adjustment does not change the economic terms of the proposed transaction.

Cox Capital provided a new notice of its offer as an accommodation to Blue Owl Credit Income Corp. The new notice resulted in a revised commencement date. “We share a common interest in making private markets more accessible and attractive to wealth advisors and their clients,” said John Cox, CEO and CIO of Cox Capital Partners. “We are committed to working cooperatively to provide a reliable secondary liquidity option that gives advisors confidence that their clients have an alternative path to liquidity.”

The commencement date adjustment does not change the economic terms of the proposed transaction. The Purchaser continues to seek up to $10 million in aggregate value of OCIC Class I shares at $7.31 per share, representing a 20% discount to the fund's reported net asset value (“NAV”) of $9.14 as of August 31, 2026. The expiration date remains unchanged at 5:00 p.m. Eastern Time on November 25, 2026, unless extended or earlier terminated.

Blue Owl Capital Corporation (NYSE: OBDC), a separate, publicly traded business development company that is managed by Blue Owl Credit Advisors LLC, closed at $10.11 per share on Friday, October 9, 2026, representing a 29.1% discount to its reported NAV of $14.26 per share as of June 30, 2026. OBDC and OCIC have different portfolios and liquidity terms.

Prior to its October 5 tender offer announcement, the Purchaser notified Blue Owl of its intention to pursue a tender offer for up to 33 million Class I shares of OCIC, roughly $240 million at the offer price, reflecting the firm's available investment capital and potential co-investment capacity. The Purchaser subsequently announced its offer to purchase $10 million of OCIC shares, while reserving the right, but not the obligation, to purchase up to an additional 2% of the fund's outstanding Class I shares, as permitted under applicable tender offer rules and subject to the offer's terms. At the announced purchase price, that additional capacity represents approximately $196 million of additional OCIC shares.

Following the tender offer announcement, Blue Owl informed the Purchaser that it believed the $10 million initial purchase amount was materially different from the amount specified in the original notice and requested a new notice. OCIC’s charter provides for notice at least 10 business days before commencement of a tender offer. Cox Capital maintains that its September 21 notice to Blue Owl encompassed the subsequently announced purchase amount and satisfied the applicable notice requirements. Nevertheless, in the interest of cooperation, the Purchaser provided a new notice on October 7 with an October 23 commencement date. Blue Owl confirmed receipt on October 8 and informed the Purchaser that it would process offer materials with the dates in the new notice.

“Our original notice reflected the significant capital we have available to support secondary liquidity for retail private markets investors, and we continue to believe it satisfied the applicable notification requirements,” Cox added. “We accommodated the request because we want to be good partners to fund sponsors and keep the process moving for advisors and their clients.”

Cox Capital developed its tender offer program to provide investors with an alternative source of cash liquidity when a fund’s own repurchase program does not satisfy their full redemption requests. In its October 2, 2026 shareholder update, OCIC reported preliminary third-quarter repurchase requests totaling approximately $3.1 billion, representing 16.8% of shares outstanding as of June 30, 2026, against its 5% quarterly repurchase offer. OCIC stated that these preliminary figures were subject to adjustment.

How to Participate

Following commencement of the offer, Class I shareholders and financial professionals can review the applicable tender materials, obtain fund-specific instructions and submit documentation through CoxCapitalPortal.com. Shares held through a broker or custodian may require a countersignature and may be subject to separate platform requirements or earlier internal deadlines.

Shareholders with questions or who would like to request copies of the applicable materials may contact the Purchaser at (484) 840-5281 or service@coxcp.com.

Important Information

This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities. The proposed tender offer will be made solely pursuant to the applicable Offer to Purchase and Assignment Form, as amended or supplemented. Shareholders should read those documents carefully before deciding whether to tender their shares. If this press release conflicts with an offer document, the offer document controls.

The proposed purchase price is below OCIC's reported net asset value, and no independent person has been retained to evaluate or render an opinion on the fairness of the price.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any interest in Cox Capital Retail Secondaries Fund I, LP or any other private investment vehicle managed by Cox Capital or any of its affiliates. No such interests are offered through this release or CoxCapitalPortal.com.

The tender offer has not been approved or disapproved by the U.S. Securities and Exchange Commission or any state securities commission, and no commission has passed upon the fairness or merits of the offer or the accuracy or adequacy of the offer materials. Any representation to the contrary is unlawful.

Cox Capital and the Purchaser are not affiliated with OCIC or its advisers. Tendering is voluntary, and shareholders should consult their financial, tax and legal advisers before making any decision. The proposed offer will not be made in any jurisdiction in which it would be unlawful.

Forward-Looking Statements

This release contains forward-looking statements regarding the anticipated commencement, timing, terms and potential benefits of the proposed tender offer. Actual events and results may differ materially from those expressed or implied. The proposed transaction remains subject to applicable legal requirements and the terms and conditions of the definitive offer documents. Cox Capital undertakes no obligation to update these statements except as required by law.

About Cox Capital Partners

Cox Capital Partners is a Conshohocken, Pennsylvania-based private investment firm focused on secondary-liquidity solutions for holders of non-traded and other illiquid alternative investments. Information about Cox Capital's tender offers is available through CoxCapitalPortal.com. Additional information about the firm is available at coxcp.com.