Blue Owl Capital Corporation (OBDC) Earnings Call Transcript & Summary

Good day, everyone, and welcome to the Owl Rock Capital Corporation Special Meeting of Stockholders. At this time, I'd like to turn the conference call over to Ed D’Alelio. Sir, please go ahead.

Good morning, ladies and gentlemen, and welcome to the special meeting of the shareholders of Owl Rock Capital Corp. Herein referred to as the company. Today's meeting is a virtual-only, live video webcast. I am Ed D’Alelio, Chairman of the Board of Directors of the company, and will be acting as chairman of this meeting. Neena Reddy, Secretary of the company, has been appointed to act as secretary of this meeting. Present via telephone are Craig Packer, Chief Executive Officer, President and Director of the company; and Alan Kirshenbaum, Chief Operating Officer, Chief Financial Officer and a Director of the company. Before we begin the business of the meeting, let me explain the mechanics of conducting this virtual shareholder meeting. We have made available the rules of conduct of the meeting online through the virtual meeting website, we will conduct this meeting in accordance with those rules. Please note, no audio or visual recordings may be made of this live video webcast. Christopher Woods, representative of American Electric Services, has been appointed to serve as inspector of election, to count the ballots and report the results of the voting upon the closing of the polls at this meeting. Will the inspector please file the oath required?

I confirm that I have sent the oath to the secretary of the meeting.

Thank you. A copy of the inspector's oath has been received and will be filed -- sorry what was that?

Ready.

What was that?

Did you ask me something?

No.

Let me proceed. Thank you. A copy of inspector's oath has been received and will be filed with the records of the company. Ms. Reddy, please report on the mailing of the proxy.

January 15, 2021, is the record date for the purposes of this meeting. I have received a list of the company's shareholders as of the record date, which has been prepared in accordance with Maryland Law. I also have copies of the notice of this meeting, the proxy statement and the proxy card, each in the form mailed to each shareholder shown on such list, together with the affidavit of Broadridge Financial Solutions, Inc., the company's mailing and tabulation agent, certifying the mailing of such proxy materials to all shareholders of record on the record date. Copies of each of these documents are available for inspection by shareholders during the course of the meeting online under the Meeting Materials section of the virtual meeting screen.

Thank you, Mr. Reddy. Please file the list of shareholders, copies of the notice of the meeting, the proxy statement and the proxy card and the affidavit of mailing with the records of the company. The inspector has informed me that a quorum is present today for the conduct of business. So I now declare this meeting duly convened, properly organized and confident to transaction. I will now open the floor to the consideration proposals described in the notice of the special meeting. First order of business is a proposal to approve the company's entry into an amended and restated investment advisory agreement between the company, Owl Rock Capital Advisors, LLC, its investment adviser, pursuant to which the adviser will continue to provide investment advisory management services to the company following the change of control in adviser with no changes to terms. We will refer to this proposal as the new advisory agreement proposal. The second order of business on our agenda is to approve the adjournment of this meeting, if necessary or appropriate, to solicit additional proxies [ within our consideration ]. To approve the new advisory agreement, we will refer to this proposal as the adjournment proposal. At this time, I'll be happy to answer any questions concerning the company or the proposals which were set forth in more detail in the company's proxy statement. [Operator Instructions]

Thank you, Ed. There are no questions at this time.

Thank you, Neena. I declare the polls are now, at 9:05 a.m. on March 17, 2021, open for all shareholders of voting on proposal. The proxies will vote in accordance with instructions on the proxy card. All shareholders of the company entitled to vote at this meeting have the ability to do so online. If you are a shareholder entitled to vote and have not yet voted or if you want to change your previously cast vote, please do so via the website used to access this meeting. Please remember that if you have already voted by proxy, it is not necessary to vote again. [Voting]

The polls are now closed at 9:06 a.m. on March 17, 2021. I now ask the inspector of election to count all ballots and proxies. We will take an informal recess during which the inspector of election will count the votes and prepare a certificate of inspection.

Mr. Chairman, we can proceed.

Thank you. I understand the certificate of inspection is complete. Will the inspector please submit the report?

I submit the certificate of the inspector of election, which sets forth the preliminary voting results for the new advisory agreement proposal and the adjournment proposal. All proposals have passed.

Thank you. The final results of the voting will be reported at the current report on Form 8-K that will be filed by the company with the Securities and Exchange Commission within 4 business days. The secretary will file the certificate of the inspector of election with the records of the company. There being no further official business, I declare that the special meeting of shareholders of Owl Rock Capital Corporation is hereby adjourned. I would like to thank you for attending this meeting and for your continued support of the company.

Ladies and gentlemen, that does conclude today's conference. We do thank you for joining. You may now disconnect your lines.