OFS Capital Corporation Announces Appointment of Kyle Spina as Chief Financial Officer and Treasurer

Rhea-AI Summary

OFS Capital (Nasdaq: OFS) has announced the appointment of Kyle Spina as Chief Financial Officer and Treasurer, effective March 31, 2025. Spina, who has served as Chief Accounting Officer since April 2023, will succeed Jeff Cerny, who is retiring from his CFO position but will remain on the Board of Directors.

Spina brings over 15 years of experience in public and private accounting. He joined OFS Capital Management in April 2021 as Vice President and Controller of Fund Accounting and Reporting. His previous experience includes roles at Thoma Bravo, LP and Fidus Investment , as well as serving as an Audit Manager at BDO.

OFS Capital is a business development company focusing on middle-market investments, typically providing $3 million to $20 million in financing to companies with annual EBITDA between $5 million and $50 million. The company primarily invests in privately held middle-market companies through various debt instruments and, to a lesser extent, equity securities.

Positive

• Internal promotion ensures continuity and deep understanding of company operations
• Retiring CFO remains on Board of Directors, facilitating smooth transition
• New CFO brings 15 years of relevant industry experience and CPA certification

Negative

• None.

Jeff Cerny Will Continue to Serve on the Board of Directors

CHICAGO--(BUSINESS WIRE)-- OFS Capital Corporation (Nasdaq: OFS) (“OFS Capital” or the “Company”), a business development company, announced today the appointment of Kyle Spina as Chief Financial Officer, effective March 31, 2025. Jeff Cerny announced his retirement from his role as Chief Financial Officer and Treasurer, but will continue in his role as a member of the Board of Directors of OFS Capital, and will work closely with Mr. Spina to ensure a smooth transition.

Mr. Spina has more than 15 years of experience in public and private accounting and has served as Chief Accounting Officer of OFS Capital since April 2023, a role in which he oversaw all accounting and financial reporting processes for the Company.

“As Chief Accounting Officer, Kyle has worked closely with Jeff and the Board, and we are excited to welcome him into this new role as CFO. Kyle has a deep knowledge and understanding of our company and industry, and we look forward to his contributions as we continue to build our partnerships across the middle market,” said Bilal Rashid, Chairman of the Board and Chief Executive Officer of OFS Capital. “On behalf of the Board and all of our colleagues at OFS, I want to thank Jeff for his leadership and dedication in his role as Chief Financial Officer for the past 10 years. We look forward to his continued guidance on the Board.”

Mr. Spina joined OFS Capital Management, LLC in April 2021 as Vice President and Controller of Fund Accounting and Reporting. Prior to joining OFS, he held multiple controllership roles, serving as Assistant Controller of Credit Funds for Thoma Bravo, LP and Controller and Accounting Manager for Fidus Investment Corporation (NASDAQ: FDUS) and affiliates. Mr. Spina began his career in public accounting, including serving as an Audit Manager at BDO, focusing on audits of public companies. Mr. Spina graduated from Purdue University with a Bachelor of Science degree in Accounting and Management and has been an active Certified Public Accountant since 2010.

ABOUT OFS CAPITAL

OFS Capital Corporation is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company. OFS Capital’s investment objective is to provide stockholders with both current income and capital appreciation primarily through debt investments and, to a lesser extent, equity investments. OFS Capital invests primarily in privately held middle-market companies in the United States, including lower-middle-market companies, targeting investments of $3 million to $20 million in companies with annual EBITDA between $5 million and $50 million. OFS Capital offers flexible solutions through a variety of asset classes including senior secured loans, which includes first-lien, second-lien and unitranche loans, as well as subordinated loans and, to a lesser extent, warrants and other equity securities. OFS Capital’s investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 1940ⁱ and headquartered in Chicago, Illinois, with additional offices in New York and Los Angeles.

FORWARD-LOOKING STATEMENTS

Statements in this press release regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements relating to Mr. Spina’s contributions in building OFS Capital’s partnerships across the middle market and other factors may constitute forward-looking statements for purposes of the safe harbor protection under applicable securities laws. Forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “could,” “could increase the likelihood,” “estimate,” “expect,” “intend,” “is planned,” “may,” “should,” “will,” “will enable,” “would be expected,” “look forward,” “may provide,” “would” or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in OFS Capital’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission under the section “Risk Factors,” as well as other documents that may be filed by OFS Capital from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. OFS Capital 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.

OFS® and OFS Capital® are registered trademarks of Orchard First Source Asset Management, LLC

ⁱ Registration does not imply a certain level of skill or training

View source version on businesswire.com: https://www.businesswire.com/news/home/20250129316963/en/

INVESTOR RELATIONS CONTACT:

Steve Altebrando

847-734-2084

investorrelations@ofscapital.com

Source: OFS Capital Corporation

FAQ

When will Kyle Spina assume the CFO position at OFS Capital (OFS)?

Kyle Spina will assume the position of Chief Financial Officer at OFS Capital on March 31, 2025.

What is Kyle Spina's current role at OFS Capital (OFS)?

Kyle Spina currently serves as Chief Accounting Officer of OFS Capital, a position he has held since April 2023.

What is the typical investment range for OFS Capital (OFS)?

OFS Capital typically invests between $3 million to $20 million in companies with annual EBITDA between $5 million and $50 million.

What will happen to former OFS Capital (OFS) CFO Jeff Cerny?

Jeff Cerny will retire from his role as CFO and Treasurer but will continue to serve as a member of the Board of Directors of OFS Capital.

What was Kyle Spina's role before joining OFS Capital (OFS)?

Before joining OFS Capital, Spina served as Assistant Controller of Credit Funds for Thoma Bravo, LP and Controller and Accounting Manager for Fidus Investment