ONEX CORP 4
4 · Onex Direct Lending BDC Fund · Filed Feb 10, 2026
Research Summary
AI-generated summary of this filing
Onex Direct Lending BDC Fund: Onex Corp (10% Owner) Sells Shares
What Happened
- Onex Corporation (reported as a 10% owner) sold 46,389.816 common shares of Onex Direct Lending BDC Fund at $23.42 per share, for a total reported value of $1,086,449. The sale was made to the issuer pursuant to an issuer tender offer (per filing footnote).
Key Details
- Transaction date: 2024-11-08; Price: $23.42; Shares sold: 46,389.816; Total value: $1,086,449.
- Transaction type: Sale to the issuer via tender offer (listed as S).
- Shares owned after transaction: Not specified in the Form 4 provided.
- Relevant footnotes:
- F1: Sale was to the issuer under an issuer tender offer.
- F2: Reflects shares held directly by Onex Credit Holdings LLC.
- F3: Onex Corp may be deemed to beneficially own the shares held by Onex Credit Holdings LLC; Mr. Gerald W. Schwartz may be deemed to beneficially own shares of Onex Corp but disclaims ownership except for pecuniary interest.
- F4: Notes a reorganization (Feb 6, 2026) affecting group status with Convex entities.
- Filing timeliness: The Form 4 was filed on 2026-02-10 for a 2024-11-08 transaction (filed late). Late filings can delay public disclosure of insider activity but do not by themselves indicate misconduct.
Context
- This filing reports institutional-level selling by a 10% owner (Onex Corp/Onex Credit Holdings LLC), not an individual executive trade. Sales by large holders can be routine (e.g., participation in issuer tender offers) rather than a signal about company fundamentals. No options, gifts, or 10b5-1 plans were reported here.
Insider Transaction Report
Form 4Exit
ONEX CORP
10% Owner
Transactions
- Sale
Common Shares
[F1][F2][F3][F4]2024-11-08$23.42/sh−46,389.816$1,086,449→ 609,508.33 total(indirect: See footnotes)
Footnotes (4)
- [F1]Represents a sale by Onex Corporation of common shares of beneficial interest par value $0.001 per share ("Common Shares") to the Issuer pursuant to an Issuer tender offer.
- [F2]Reflects Common Shares held directly by Onex Credit Holdings LLC.
- [F3]Onex Corporation may be deemed to beneficially own the Common Shares held by Onex Credit Holdings LLC, through its ownership of all of the equity of Onex Credit Holdings LLC. Mr. Gerald W. Schwartz, the Chairman and Founder of Onex Corporation, indirectly owns shares representing a majority of the voting rights of the shares of Onex Corporation and as such may be deemed to beneficially own all of the Common Shares beneficially owned by Onex Corporation. Mr. Schwartz disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.
- [F4]Convex Re Limited, which is wholly owned by Convex Group Limited, separately beneficially owns shares of the Issuer and makes Section 16 filings. Following a reorganization on February 6, 2026, the reporting persons may no longer be deemed to be a group with Convex Re Limited and Convex Group Limited.