PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 4:12 PM
| This Slide: #274 of 609 |
Slide #274. Eagle Point Credit Company Inc. — Preferred Stock Offering
Company:
Eagle Point Credit Company Inc. (NYSE:ECC)
Date announced:
12/12/2016
Shares Offered:
400,000
Date of Pricing:
12/12/2016
Price Per Share:
$25.00
Preferred Stock Offering Details:
Eagle Point Credit Company Inc. (the "Company") (NYSE:ECC,NYSE,ECCA,,NYSE,ECCB,NYSE,ECCZ) today announced that it has commenced an underwritten public offering of 400,000 shares of its previously designated 7.75% Series B Term Preferred Stock due 2026 (the "Preferred Stock"). In addition, the Company plans to grant the underwriters a 30-day option to purchase up to an additional 60,000 shares of Preferred Stock to cover overallotments, if any. -updated 12/12- Eagle Point Credit Company Inc. (the "Company") (NYSE:ECC,NYSE,ECCA,,NYSE,ECCB,NYSE,ECCZ) today announced that it has priced an underwritten public offering of 400,000 shares of its previously designated 7.75% Series B Term Preferred Stock due 2026 (the "Preferred Stock") at a public offering price of $25.00 per share (plus any accrued but unpaid dividends) which will result in net proceeds to the Company of approximately $9.4 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 60,000 shares of Preferred Stock to cover overallotments, if any. The Preferred Stock is listed on the New York Stock Exchange under the ticker symbol "ECCB."
Eagle Point Credit Company is registered as an externally managed, non-diversified closed-end management investment company. Co.'s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. Co. seeks to achieve its investment objectives by investing primarily in equity and junior debt tranches of collateralized loan obligations that are collateralized by a portfolio consisting primarily of below investment grade United States senior secured loans.
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Avg. Broker Rec.
 
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Buy (3.33 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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