1 unchanged sentence
Market Information
−Removed: There is not currently, and until an Exchange Listing we do not expect there to be, a public market for our shares, nor can we give any assurance that one will develop.
−Removed: Our shares may not be sold, transferred, assigned, pledged or otherwise disposed of unless (i) our Adviser consents to such transfer and (ii) the shares are registered under applicable securities laws or specifically exempted from registration (in which case the shareholder may, at our option, be required to provide us with a legal opinion, in form and substance satisfactory to us, that registration is not required).
−Removed: Accordingly, an investor must be willing to bear the economic risk of investment in the shares until we are liquidated.
−Removed: No sale, transfer, assignment, pledge or other disposition, whether voluntary or involuntary, of the shares may be made except by registration of the transfer on our books.
−Removed: Each transferee will be required to execute an instrument agreeing to be bound by these restrictions and the other restrictions imposed on our shares and to execute such other instruments or certifications as we may reasonably require.
+Added: Our common stock is traded on the NYSE under the symbol “BXSL.” Our common stock has historically traded at prices above our net asset value per share since our common stock began trading on the NYSE on October 28, 2021.
+Added: It is not possible to predict whether our common stock will trade at a price per share at, above or below net asset value per share.
+Added: On February 25, 2022, the last reported closing sales price of our common stock on the NYSE was $29.00 per share, which represented a premium of approximately 10.39% to net asset value per share reported by us as of December 31, 2021.
As of February 25, 2022, there were 11,681 holders of record of our shares.
4 unchanged sentences
Date Declared Record Date Payment Date Per Share Amount Total Amount
−Removed: January 29, 2020 January 29, 2020 May 15, 2020 $ 0.1593 $ 10,241
February 24, 2021 March 31, 2021 May 14, 2021 $ 0.5000 $ 65,052
−Removed: April 7, 2020 April 7, 2020 August 14, 2020 0.0385 3,129
June 7, 2021 June 7, 2021 August 13, 2021 0.3736 48,734
−Removed: July 14, 2020 July 14, 2020 November 13, 2020 0.0761 7,330
−Removed: July 27, 2020 July 27, 2020 November 13, 2020 0.0707 7,185
−Removed: August 26, 2020 September 30, 2020 November 13, 2020 0.3532 36,021
−Removed: November 5, 2020 November 5, 2020 January 29, 2021 0.1957 19,958
−Removed: December 14, 2020 December 14, 2020 January 29, 2021 0.2120 22,654
−Removed: December 14, 2020 December 14, 2020 January 29, 2021 0.3000 32,057 (1)
−Removed: December 14, 2020 December 31, 2020 January 29, 2021 0.0923 11,968
+Added: June 7, 2021 June 30, 2021 August 13, 2021 0.1264 18,241
+Added: September 7, 2021 September 7, 2021 November 12, 2021 0.3750 54,250
+Added: September 7, 2021 September 30, 2021 November 12, 2021 0.1250 19,800
+Added: October 18, 2021 December 31, 2021 January 31, 2022 0.5300 89,715
Total distributions $ 2.0300 $ 295,792
−Removed: (1) Represents a special distribution
+Added: On October 18, 2021, the Board also declared the following special distributions:
+Added: Record Date Payment Date Amount Per Share
+Added: January 18, 2022 May 13, 2022 $ 0.1000
+Added: March 16, 2022 May 13, 2022 0.1500
+Added: May 16, 2022 August 12, 2022 0.2000
+Added: July 18, 2022 November 14, 2022 0.2000
+Added: Total distributions $ 0.6500
Pursuant to our dividend reinvestment plan, the following table summarizes the amounts received and shares issued to shareholders who have not opted out of our dividend reinvestment plan during the year ended December 31, 2021 (dollars in thousands except share amounts):
4 unchanged sentences
November 12, 2021 9,944 327,082
−Removed: Total $ 18,745 784,781
−Removed: All of the dividends declared during the year ended December 31, 2020 were derived from ordinary income, determined on a tax basis.
−Removed: Recent Sales of Unregistered Securities and Use of Proceeds
−Removed: Except as previously reported by the Company on its current reports on Form 8-K, we did not sell any securities during the period covered by this Annual Report that were not registered under the Securities Act.
+Added: Total distributions $ 38,939 1,462,775
+Added: Share Repurchase Plan
+Added: There were no repurchases under the 10b5-1 plan during the year ended December 31, 2021.
+Added: Price Range of Common Stock
+Added: Our common stock is traded on the NYSE under the symbol “BXSL.” Our common stock has historically traded at prices above our net asset value per share since our common stock began trading on the NYSE on October 28, 2021.
+Added: It is not possible to predict whether our common stock will trade at a price per share at, above or below net asset value per share.
+Added: The following table sets forth the net asset value per share of our common stock, the range of high and low closing sales prices of our common stock reported on the NYSE, the closing sales price as a premium (discount) to net asset value and the dividends declared by us in each fiscal quarter since we began trading on the NYSE.
+Added: On February 25, 2022, the last reported closing sales price of our common stock on the NYSE was $29.00 per share, which represented a premium of approximately 10.39% to the net asset value per share reported by us as of December 31, 2021.
+Added: Period Net Asset Value (1)
+Added: High Low High Sales Price Premium (Discount) to Net Asset Value (2)
+Added: Low Sales Price Premium (Discount) to Net Asset Value (2)
+Added: Cash Dividend Per Share (3)
+Added: Year End December 31, 2021
+Added: Fourth Quarter $ 26.27 $37.64 $27.63 43.3 % N/A $ 0.53
+Added: (1) Net asset value per share is determined as of the last day in the relevant quarter and therefore may not reflect the net asset value per share on the date of the high and low closing sales prices.
+Added: The net asset values shown are based on outstanding shares at the end of the relevant quarter.
+Added: (2) Calculated as the respective high or low closing sales price less net asset value (in each case, as of the applicable quarter).
+Added: (3) Represents the dividend or distribution declared in the relevant quarter.
+Added: Stock Performance Graph
+Added: This graph compares the stockholder return on our common stock from October 28, 2021 (the date our common stock commenced trading on the NYSE) to December 31, 2021 with that of the Standard & Poor’s 500 Stock Index, Standard & Poor’s BDC Index and Standard & Poor’s LSTA Leveraged Loan Stock Index.
+Added: This graph assumes that on October 28, 2021, $100 was invested in our common stock, the Standard & Poor’s BDC Index, the Standard & Poor’s 500 Stock Index and the Standard & Poor’s LSTA Leveraged Loan Stock Index.
+Added: The graph also assumes the reinvestment of all cash dividends prior to any tax effect.
+Added: The graph and other information furnished under this Part II Item 5 of this Annual Report on Form 10-K shall not be deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C under, or to the liabilities of Section 18 of, the Exchange Act.
+Added: The stock price performance included in the below graph is not necessarily indicative of future stock performance.
+Added: COMPARISON OF CUMULATIVE TOTAL RETURN AMONG BLACKSTONE SECURED LENDING FUND STANDARD & POOR’S 500 INDEX, STANDARD & POOR’S BDC INDEX AND STANDARD & POOR’S LSTA LEVERAGED LOAN INDEX
The selected financial data previously required by Item 301 of Regulation S-K has been omitted in reliance on SEC Release No.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.