OFS Credit Company, Inc. Commences Preferred Stock Offering
April 21 2021 - 7:20AM
Business Wire
OFS Credit Company, Inc. (the “Company”) (Nasdaq: OCCI, OCCIP)
announced today that it plans to offer shares of its Series C Term
Preferred Stock (the “Preferred Stock”) in an underwritten public
offering. The public offering price and other terms of the
Preferred Stock are to be determined by negotiations between the
Company and the underwriters. The Company has applied to list the
Preferred Stock on the Nasdaq Capital Market under the trading
symbol “OCCIO”. The Company expects the Preferred Stock to begin
trading within 30 days from the original issue date. In addition,
the Company plans to grant the underwriters a 30-day option to
purchase additional shares of Preferred Stock on the same terms and
conditions to cover overallotments, if any.
The Company intends to use the net proceeds of the offering to
acquire investments in accordance with its investment objectives
and strategies and for general working capital purposes. The
Company may use the net proceeds of the offering to redeem all or a
portion of its outstanding 6.875% Series A Term Preferred Stock due
2024 and 6.60% Series B Term Preferred Stock due 2023.
Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc.,
National Securities Corporation and Incapital LLC are acting as
underwriters for the offering.
Investors are advised to carefully consider the investment
objectives, risks and charges and expenses of the Company before
investing. The preliminary prospectus supplement, dated April 21,
2021, and accompanying prospectus, dated March 2, 2021, each of
which has been filed with the Securities and Exchange Commission,
contain a description of these matters and other important
information about the Company and should be read carefully before
investing.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in this offering or
any other securities nor will there be any sale of these securities
or any other securities referred to in this press release in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under
the securities laws of such state or jurisdiction.
A shelf registration statement relating to these securities is
on file with and has been declared effective by the Securities and
Exchange Commission. The proposed offering may be made only by
means of a prospectus and a related prospectus supplement, copies
of which may be obtained, when available, from the following
investment banks: Ladenburg Thalmann & Co. Inc., Attn:
Syndicate Department, 640 Fifth Ave, 4th Floor, New York, NY 10019,
or by emailing prospectus@ladenburg.com (telephone number
1-800-573-2541); B. Riley Securities, Inc., at 1300 North 17th
Street, Suite 100, Arlington, VA 22209 or by calling (703) 312‐9580
or by emailing prospectuses@brileyfin.com; National Securities
Corporation, Attention: Adrian Adderley, 200 Vesey Street, 25th
Floor, New York, New York 10281, telephone: (561) 981-1074 or by
email at prospectusrequest@nationalsecurities.com; and Incapital
LLC, Attn: Syndicate Department, 1800 N Military Trail, Suite 400,
Boca Raton, FL 33431, or by emailing
prospectus_requests@incapital.com (telephone number
1-800-327-1546); copies may also be obtained by visiting EDGAR on
the Securities and Exchange Commission Web site, at
www.sec.gov.
About OFS Credit Company, Inc.
The Company is a non-diversified, externally managed closed-end
management investment company. The Company’s investment objective
is to generate current income, with a secondary objective to
generate capital appreciation primarily through investment in
collateralized loan obligation debt and subordinated securities.
The Company’s investment activities are managed by OFS Capital
Management, LLC, an investment adviser registered under the
Investment Advisers Act of 19401, as amended, and headquartered in
Chicago, Illinois with additional offices in New York and Los
Angeles.
Forward-Looking Statements
Statements included herein may constitute “forward-looking
statements,” which relate to future events or our future
operations, performance or financial condition. Forward-looking
statements include statements regarding our intentions related to
the offering discussed in this press release, including the use of
proceeds from the offering. These statements are not guarantees of
future performance, condition or results and involve a number of
risks and uncertainties, including the impact of the global
COVID-19 pandemic and related changes in base interest rates and
significant market volatility on our business, our portfolio
companies, our industry and the global economy. Actual results and
outcomes may differ materially from those anticipated in the
forward-looking statements as a result of a variety of factors,
including those described from time to time in the Company’s
filings with the Securities and Exchange Commission or factors that
are beyond the Company’s control. The Company is providing the
information in this press release as of this date and assumes no
obligations to update the information included in this press
release or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
1 Registration does not imply a certain level of skill or
training
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INVESTOR RELATIONS: OFS Credit Company, Inc. Steve Altebrando,
646-652-8473 saltebrando@ofsmanagement.com
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