Eagle Point Credit Company Inc. Announces Exercise of Overallotment Option in Offering of Common Stock
December 28 2016 - 3:50PM
Business Wire
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC,
NYSE:ECCA, NYSE:ECCB, NYSE:ECCZ) today announced that it has
completed the sale of an additional 146,553 shares of its common
stock pursuant to the exercise by the underwriters of the
overallotment option granted to them in connection with the public
offering of 1,000,000 shares of its common stock, which was
completed on December 13, 2016. The exercise of the overallotment
option resulted in additional net proceeds to the Company of
approximately $2.5 million after payment of underwriting discounts
and commissions payable by the Company.
The Company plans to use the net proceeds from the offering of
its common stock to acquire investments in accordance with its
investment objectives and strategies and for general working
capital purposes.
Keefe, Bruyette & Woods, A Stifel Company acted as sole
book-running manager for the offering. Ladenburg Thalmann & Co.
Inc. and Wunderlich Securities, Inc. acted as co-lead managers for
the offering. FBR Capital Markets & Co., MUFG Securities
Americas Inc. and National Securities Corporation, a wholly owned
subsidiary of National Holdings Corporation (NASDAQ:NHLD), acted as
co-managers for the offering.
Investors should consider the Company’s investment
objectives, risks, charges and expenses carefully before investing.
The prospectus supplement dated December 8, 2016 and the
accompanying prospectus dated September 16, 2016, which have been
filed with the Securities and Exchange Commission (“SEC”), contain
this and other information about the Company and should be read
carefully before investing. The prospectus supplement, the
accompanying prospectus and this press release are not offers to
sell these securities and are not soliciting an offer to buy these
securities in any state where such offer or sale is not
permitted.
A shelf registration statement relating to these securities is
on file with and has been declared effective by the SEC. Copies
of the prospectus and related prospectus supplement may be obtained
by writing Keefe, Bruyette & Woods, Inc. at Attn: Equity
Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019,
by calling toll-free 1-800-966-1559 or by sending an e-mail to:
syndprospectus@stifel.com;
copies may also be obtained by visiting EDGAR on the SEC’s website
at http://www.sec.gov.
ABOUT EAGLE POINT CREDIT COMPANY
The Company is a non-diversified, closed-end management
investment company. The Company’s investment objectives are to
generate high current income and capital appreciation primarily
through investment in equity and junior debt tranches of
collateralized loan obligations. The Company is externally managed
and advised by Eagle Point Credit Management LLC. The
principals of Eagle Point Credit Management LLC are
Thomas P. Majewski, Daniel W. Ko and Daniel M.
Spinner.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described in the
prospectus and the Company’s other filings with the SEC. The
Company undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Source: Eagle Point Credit Company Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20161228005427/en/
Investor Relations:Eagle Point Credit Company Inc.Kyle McGrady,
203-340-8500ir@EaglePointCredit.comwww.eaglepointcreditcompany.com
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