Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 666

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 666
---
 of underwriting fees, the Company received cash proceeds, before offering expenses, of $174.1 million. On August 18, 2023, the underwriters exercised, in full, their option to purchase an additional 975,000 shares of Common Shares, which resulted in cash proceeds, before offering expenses, of $26.1 million. The Company incurred offering expenses of $0.4 million in connection with the follow-on offering.As of December 31, 2024, the Company is party to eight separate equity distribution agreements with sales agents (“Equity Distribution Agreements”), pursuant to which the Company may sell, from time to time, up to an aggregate sales price of $500.0 million of its Common Shares. Sales of Common Shares made pursuant to the Equity Distribution Agreements may be made in negotiated transactions or transactions that are deemed to be “at-the-market” offerings as defined in Rule 415(a)(5) under the Securities Act of 1933, as amended. Actual sales depend on a variety of factors including market conditions, the trading price of the Company’s Common Shares, the Company’s capital needs, and the Company’s determination of the appropriate sources of funding to meet such needs. As of December 31, 2024, Common Shares with an aggregate sales price of $112.0 million remained available for issuance under the Equity Distribution Agreements.The following table summarizes the total Common Shares issued and proceeds received, for the year ended December 31, 2024, through the “at-the-market” offering program:Issuances of Common SharesNumber of Common Shares IssuedGross ProceedsPlacement Fees/Offering ExpensesNet Proceeds (2)Average Share Price (1)“At-the-market” Offering35,385,159 $1,047,683 $6,226 $1,041,457 $29.43 (1)Represents the net offering price per share after deducting placement fees and commissions and offering expenses.(2)The Company received $4.4 million of proceeds subsequent to December 31, 2024 on January 2, 2025. The amount was recorded as Receivable for shares sold in the Consolidated Statement of Assets and Liabilities.

224

Table of ContentsBlackstone Secured Lending FundNotes to Consolidated Financial Statements(in thousands, except share amounts, per share data, percentages and as otherwise noted)

The following table summarizes the total Common Shares issued and proceeds received, for the year ended December