Blue Owl Technology Income Corp. 8-K

What Happened

• Blue Owl Technology Income Corp. filed an 8‑K (Dec 23, 2025) disclosing a private (unregistered) sale of Class I common stock and the board’s declaration of monthly distributions. As of Dec. 1, 2025 (shares finalized Dec. 22, 2025), the Company sold 1,361,048 Class I shares for $14,154,895 to feeder vehicles in a Section 4(a)(2)/Regulation S private offering.
• The board declared monthly distributions on Nov. 4, 2025 payable on or before Jan. 31, 2026 and Feb. 28, 2026 to holders of record on Dec. 31, 2025 and Jan. 30, 2026. Gross distribution per share for all classes is $0.074775; net distributions after servicing fees are: Class S $0.067253, Class D $0.072563, Class I $0.074775.
• The filing also reports the status of the public Offering and Private Offering: total shares issued across offerings are 384,979,125 for aggregate consideration of $3,950,554,785. The Private Offering alone comprised 246,887,446 Class I shares for $2,526,039,789. NAV per share (Nov. 30, 2025) for Class S/D/I is $10.40.

Key Details

• Unregistered sale: 1,361,048 Class I shares for $14,154,895 (finalized Dec. 22, 2025).
• Monthly distributions: gross $0.074775 per share; net per share — Class S $0.067253, Class D $0.072563, Class I $0.074775.
• Offering totals: 384,979,125 shares issued, $3.9506 billion in proceeds (includes $2.5260B from Private Offering).
• Balance sheet & portfolio highlights (as of Nov. 30, 2025): portfolio in 173 companies with aggregate par ≈ $6.0B; 90.4% first‑lien debt; 98.3% of debt investments floating‑rate; average debt‑to‑equity leverage 0.79x. Committed debt capacity $3.745B with $3.172294B outstanding; SPV Asset Facility IV increased from $350M to $750M (effective Dec. 1, 2025).

Why It Matters

• Capital and liquidity: the Company continues to raise capital through its continuous public offering and large private placements (Private Offering accounted for $2.526B), bringing total proceeds across offerings to about $3.95B — a key input to its lending/investment activities.
• Income to shareholders: the declared monthly distributions give shareholders a near‑term cash return (payable Jan 31 and Feb 28, 2026), with net amounts varying by share class due to servicing fees.
• Interest rate exposure and leverage: most drawn debt is floating‑rate (≈96.7% of drawn capacity) and the portfolio’s debt investments are largely floating‑rate (98.3%), so interest rate movements and the Company’s 0.79x average leverage are relevant for future income and NAV sensitivity.
• Portfolio composition: concentration in tech-related sectors (top three by par: Application Software ≈ $937M, Systems Software ≈ $773M, Health Care Technology ≈ $723M) and a predominance of first‑lien positions shape risk/return characteristics for investors.

Note: figures are based on the Company’s preliminary estimates; amounts are unaudited and subject to change.