ONEX CORP 4

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.