# EDGAR Filing Document

**Accession Number:** 0001860424
**File Stem:** 0000950170-23-001063
**Filing Date:** 2023-1
**Character Count:** 7065
**Document Hash:** 854ef070c592f4921e052bc663e2b3ef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-001063.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0000950170-23-001063

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230123

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Onex Falcon Direct Lending BDC Fund
- **CENTRAL INDEX KEY:** 0001860424
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01405
- **FILM NUMBER:** 23546789

**BUSINESS ADDRESS:**
- **STREET 1:** 21 CUSTOM HOUSE STREET
- **STREET 2:** 10TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** (617) 412-2700

**MAIL ADDRESS:**
- **STREET 1:** 21 CUSTOM HOUSE STREET
- **STREET 2:** 10TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Onex Falcon BDC Fund
- **DATE OF NAME CHANGE:** 20210504

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): January 23, 2023**

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**Onex Falcon Direct Lending BDC Fund**

**(Exact name of Registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **814-01405** | **86-3687484** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission**<br>**File Number)** | **(I.R.S. Employer<br>Identification No.)** |

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| | |
|:---|:---|
| **21 Custom House Street, 10th Floor**<br>**Boston, MA** | **02110** |
| **(Address of principal executive offices)** | **(Zip Code)** |

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**Registrant's telephone number, including area code: (617) 412-2700**

**Not Applicable**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange<br>on which registered** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 3.02. Unregistered Sale of Equity Securities.**

On January 3, 2023, Onex Falcon Direct Lending BDC Fund (the "**Company**") sold 44,339 unregistered common shares of beneficial interest, par value $0.001 (the "**Common Shares**") (with the final number of shares being determined on January 23, 2023) to investors, including feeder vehicles. These Common Shares were sold in a private placement in the United States under the exemption provided by Section 4(a)(2) of the Securities Act and Regulation D promulgated thereunder and Regulation S under the Securities Act (the "**Private Offering**"). The following table details the shares sold:

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| | | |
|:---|:---|:---|
| **Date of Unregistered Sale** | **Amount of <br>Common Shares** | **Consideration** |
| As of January 3, 2023 (number of shares finalized on January 23, 2023) | 44339 | $1088965 |

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**Item 7.01. Regulation FD Disclosure.**

Since inception and as of December 31, 2022, the Company has closed on 32 portfolio investments totaling over $610 million of commitments. Currently, there are 28 borrowers in the portfolio with total outstanding commitments, including unfunded loan commitments, of $560 million. At the time of original closing for these 28 borrowers, the weighted average senior leverage was approximately 4.5 times and the loan-to-value ratio was approximately 37%. Additionally, the Company has committed to two new investments that are anticipated to close in Q1 2023 that will further ramp up leverage towards the Company's target.

The information disclosed under this Item 7.01 is being "furnished" and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "**Exchange Act**"), or otherwise. The information in this Item 7.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as otherwise expressly stated in any such filing.

**Item 8.01. Other Events.**

**Net Asset Value**

The net asset value ("NAV") per share of each class of the Company as of December 31, 2022, as determined in accordance with the Company's valuation policy, is set forth below.

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| | |
|:---|:---|
|  | **NAV per share<br>as of<br>December 31, 2022** |
| Common shares of beneficial interest, par value $0.001 | $24.56 |

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As of December 31, 2022, the Company's aggregate net asset value was $305,912,779 and the fair value of its investment portfolio was $504,942,593.

**Status of Offering**

The Company has sold Common Shares as part of the Private Offering. The following table lists the Common Shares issued and total consideration for the Private Offering as of the date of this filing. The Company intends to continue selling Common Shares in the Private Offering on a quarterly basis.

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| | | |
|:---|:---|:---|
|  | **Common Shares<br>Issued** | **Total Consideration** |
| Common shares of beneficial interest, par value $0.001 | 12500062 | $321099043 |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **ONEX FALCON DIRECT LENDING BDC FUND** | **ONEX FALCON DIRECT LENDING BDC FUND** |
| Date: January 24, 2023 | By: | /s/ Tara Dempsey |
|  | Name:<br>Title: | Tara Dempsey<br>Chief Compliance Officer |

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