Source: Investing Posted 24/09/2024, 15:25
CHICAGO – OFS Credit Company, Inc. (NASDAQ: OCCI, OCCIN, OCCIO) has revealed plans for a subscribed public offering of its F-class preferred shares .The terms of the offering, including the offering price, are still under negotiation with the subscribers. The Company has commenced the process of listing the preferred shares on the Nasdaq Capital Market under the symbol “OCCIM”, expecting to commence trading within 30 days from the date of issue. The Chicago-based investment firm also intends to give subscribers a 30-day option to purchase additional preferred shares to cover any excess orders. The net proceeds from the sale will be allocated to the acquisition of investments in line with the company’s investment objectives and strategies. Lucid Capital Markets, LLC and B. Riley Securities, Inc. Janney Montgomery Scott LLC, InspereX LLC, Ladenburg Thalmann & Co. Inc. Placement management. Investors are encouraged to review the Appendix to the Initial Prospectus, dated 24 September 2024, and the accompanying Prospectus, dated 29 May 2024, to gain a detailed understanding of the investment objectives, risks, fees and expenses. These documents have been submitted to the SEC and are essential for making informed investment decisions. The announcement clarifies that this press release does not constitute an offer to sell or a solicitation to offer to purchase any securities. These securities will only be offered through a prospectus and a related prospectus supplement. Interested parties can obtain these documents from investment banks participating in the offering OFS Credit Company is a closed, non-diversified, externally managed management investment firm, primarily focused on generating current income and, to a lesser extent, on achieving Capital gain through investments in shares and bonds of syndicated loan obligations. OFS Capital Management, LLC, a registered investment advisory firm, manages the company’s investment activities. This press release contains forward-looking statements regarding the offering and the use of the proceeds. These statements are subject to various risks and uncertainties, including but not limited to economic conditions, market volatility and other factors detailed in the company’s files with SEC. The information provided is correct as of the date of publication, and the Company makes no obligation to update the information. In other recent news, OFS Credit Company, Inc. reported its estimated net asset value (NAV) per share for August 2024, which is expected to range between $7.04 and $7.14. Please note that these are preliminary figures and may differ significantly from the actual net asset value determined for the period ending October 31, 2024, which will be detailed in the Company’s next annual report on the N-CSR form .The company’s management warns that the financial position of OFS Credit may be affected by several possible factors, including interest rate fluctuations, inflation, geopolitical tensions, and uncertainties surrounding the 2024 US presidential election. It is important to note that these interim financial statements have not been reviewed or audited by the Company’s auditor, KPMG LLP. These are among the recent developments related to OFS Credit Company, Inc. OFS Credit Company, Inc. (OCCI) has positioned itself as an attractive choice for income-seeking investors, particularly due to its large dividend yield. OFS Credit Company’s dividend yield was 18.96% as of the last recorded date, indicating a strong return on investment through dividends. It is consistent that OCCI </b 183> It pays large dividends to its shareholders, which may be compelling reason for investors to consider as they evaluate the company’s upcoming F-type preferred share offering. The company’s market capitalization is $121.71 million and its P/E ratio is 10.41, which may indicate a reasonable valuation relative to its earnings. In addition, the company’s revenue has grown over the past twelve months from the third quarter of 2024, with a reported increase of 13.47%, confirming the company’s profitable performance during this period.
