PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Mon, October 14, 10:13 PM
| This Slide: #2 of 626 |
Slide #2. OFS Credit Company, Inc. — Preferred Stock Offering
Company:
OFS Credit Company, Inc. (NASDAQ:OCCI)
Date announced:
9/24/2024
Shares Offered:
1,040,000
Date of Pricing:
9/24/2024
Price Per Share:
$25.00
Preferred Stock Offering Details:
OFS Credit Company, Inc. (the "Company") (NASDAQ:OCCI,OCCIN,OCCIO) announced today that it plans to offer shares of its Series F 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 "OCCIM". 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. -updated 9/24- OFS Credit Company, Inc. (the "Company") (NASDAQ:OCCI,OCCIN,OCCIO) today announced the pricing of an underwritten public offering of 1,040,000 shares of 7.875% Series F Term Preferred Stock due 2029 (the "Preferred Stock") at a public offering price of $25.00 per share, raising $26.0 million in gross proceeds. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 156,000 shares of Preferred Stock on the same terms and conditions to cover overallotments, if any. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on October 2, 2024. The Company has applied to list the Preferred Stock on the Nasdaq Capital Market under the trading symbol "OCCIM". The Company expects the Preferred Stock to begin trading within 30 days from the original issue date.
OFS Credit Company is a non-diversified, externally managed, closed-end management investment company. Co.'s primary investment objective is to generate existing income, with a secondary objective to generate capital appreciation. Co. invests its assets in floating rate credit instruments and other structured credit investments, including: collateralized loan obligation debt and subordinated/residual tranche securities (Structured Finance Notes); traditional corporate credit investments, including leveraged loans and high yield bonds; opportunistic credit investments, including stressed and distressed credit situations and long/short credit investments; and other credit-related instruments.
Preferreds: OCCIO, OCCIN, OCCIM
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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