Welcome to our dedicated page for OFS Credit Company news (Ticker: OCCI), a resource for investors and traders seeking the latest updates and insights on OFS Credit Company stock.
OFS Credit Company, Inc. Common Stock (symbol: OCCI) is a non-diversified, closed-end management investment company with a primary objective of generating current income and a secondary objective of capital appreciation. The company strategically invests in a variety of credit instruments, with a special focus on floating rate credit and structured credit investments.
OCCI's investment portfolio includes:
- Collateralized Loan Obligation (CLO) debt: These are securities backed by a pool of loans, typically leveraged, which provide a dependable source of income.
- Subordinated securities: Also known as residual or equity securities, these offer higher yields due to their junior status in the capital structure.
- Traditional corporate credit investments: This category covers leveraged loans and high yield bonds, enhancing the portfolio's income generation capacity.
- Opportunistic credit investments: These include stressed and distressed credit situations, providing opportunities for capital appreciation through market mispricing.
- Long/short credit investments: These strategies aim to profit from both rising and falling credit markets by taking long and short positions.
- Other credit-related instruments: A diversified approach to credit, including various innovative and structured products.
OFS Credit Company, Inc. is committed to maintaining a robust and diversified portfolio that balances income generation with capital appreciation. The company’s strategic approach to investment and risk management has positioned it as a significant player in the credit investment landscape. With a focus on floating rate instruments, OCCI mitigates interest rate risk, making it an attractive option for income-seeking investors.
Recent achievements and ongoing projects reflect OCCI’s dedication to growth and stable returns. The company's partnerships and expert management team work hand in hand to continuously explore and capitalize on new investment opportunities, ensuring the portfolio remains dynamic and well-balanced.
OFS Credit Company (Nasdaq: OCCI) has released its estimated net asset value (NAV) per share for October 31, 2024. The unaudited NAV estimate ranges between $7.13 and $7.23 per share. The company notes this is a preliminary estimate that hasn't undergone typical quarter-end financial closing procedures and may differ from the final NAV to be reported in their Annual Report on Form N-CSR. The company primarily invests in collateralized loan obligation (CLO) equity and debt securities. Management acknowledges potential impacts on their portfolio from factors including interest rate changes, inflation, geopolitical conflicts, banking system instability, and recession risks.
OFS Credit Company (Nasdaq: OCCI) has announced monthly cash distributions of $0.115 per share of common stock for the quarter ending January 31, 2025. The distributions will be paid to stockholders of record on November 19, December 20, 2024, and January 21, 2025, with respective payment dates of November 29, December 31, 2024, and January 31, 2025.
The company also offers a Dividend Reinvestment Plan (DRIP) that allows common stockholders to receive shares at a 5% discount to the market price on the valuation date. The DRIP shares are issued at 95% of the market price based on Nasdaq Capital Market closing prices.
OFS Credit Company (Nasdaq: OCCI) has released its estimated net asset value (NAV) per share for September 30, 2024. Management's unaudited estimate places the NAV between $6.98 and $7.08 per share. The company, which primarily invests in collateralized loan obligation (CLO) equity and debt securities, emphasizes that this estimate is not a comprehensive financial statement and did not undergo typical quarter-end financial closing procedures.
OFS Credit cautions that current NAV estimates may differ materially from future determinations, including the upcoming October 31, 2024 report in their Annual Report on Form N-CSR. The company acknowledges potential impacts on its financial condition and portfolio investments due to factors such as elevated interest and inflation rates, geopolitical conflicts, banking system instabilities, and U.S. political uncertainties. These factors could materially affect future net investment income and the value of investments.
OFS Credit Company (Nasdaq: OCCI), an investment company focused on CLO equity and debt securities, has announced monthly cash distributions for its 7.875% Series F Term Preferred Stock (Nasdaq: OCCIM) through January 31, 2025. The company's board of directors declared the following distribution schedule:
- October 2024: $0.15859375 per share (Record Date: October 21, Payment Date: October 31)
- November 2024: $0.1640625 per share (Record Date: November 19, Payment Date: November 29)
- December 2024: $0.1640625 per share (Record Date: December 20, Payment Date: December 31)
- January 2025: $0.1640625 per share (Record Date: January 21, Payment Date: January 31)
These distributions apply to preferred stockholders of record on the close of business of each specific record date.
OFS Credit Company (Nasdaq: OCCI) has priced an underwritten public offering of 1,040,000 shares of 7.875% Series F Term Preferred Stock due 2029 at $25.00 per share, raising $26.0 million in gross proceeds. The company granted underwriters a 30-day option to purchase up to 156,000 additional shares. Expected net proceeds are approximately $25.0 million, or $28.8 million if the overallotment option is fully exercised.
The Preferred Stock is expected to trade on Nasdaq Capital Market under the symbol 'OCCIM' within 30 days from the issue date. OFS Credit Company plans to use the net proceeds to acquire investments aligned with its objectives and strategies. The offering is expected to close on October 2, 2024, subject to customary conditions.
OFS Credit Company, Inc. (Nasdaq: OCCI, OCCIN, OCCIO) has announced plans to offer shares of its Series F Term Preferred Stock in an underwritten public offering. The company has applied to list the Preferred Stock on the Nasdaq Capital Market under the symbol "OCCIM", with trading expected to begin within 30 days from the original issue date.
The company intends to use the net proceeds to acquire investments aligned with its objectives and strategies. Lucid Capital Markets, B. Riley Securities, Janney Montgomery Scott, and InspereX are acting as joint bookrunners, with Ladenburg Thalmann as co-manager. Investors are advised to carefully review the preliminary prospectus supplement and accompanying prospectus for detailed information.
OFS Credit Company (NASDAQ: OCCI) has released its estimated net asset value (NAV) per share for August 31, 2024. The unaudited estimate ranges between $7.04 and $7.14. This estimate is preliminary and may differ from future NAV determinations, including the one for October 31, 2024, to be reported in the Annual Report on Form N-CSR.
The company primarily invests in collateralized loan obligation (CLO) equity and debt securities. Management cautions that the financial condition and results may be materially impacted by various factors, including elevated interest rates, inflation, geopolitical conflicts, and economic uncertainties. The estimate has not undergone typical quarter-end financial closing procedures and has not been reviewed or audited by KPMG LLP.
OFS Credit Company (Nasdaq: OCCI), an investment firm focusing on collateralized loan obligation (CLO) equity and debt securities, released its financial results for Q3 FY 2024, ending July 31, 2024. Key highlights include:
- Net investment income (NII) of $3.9 million, or $0.24 per common share, down from $4.5 million ($0.28 per share) in the prior quarter.
- Core NII at $7.6 million ($0.47 per share), compared to $8.4 million ($0.53 per share) in Q2.
- Net asset value (NAV) per share decreased to $7.24 from $7.34, mainly due to distributions exceeding quarterly NII.
Despite a decrease in recurring waterfall payments, the company declared a 9.5% increase in monthly cash distributions to $0.115 per common share for Q4 2024. The investment portfolio's fair value was $161.1 million, with a cash flow yield of 21.61% based on amortized cost.
OFS Credit Company (NASDAQ: OCCI), an investment firm focusing on CLO equity and debt securities, has released an unaudited net asset value (NAV) estimate for July 31, 2024. The estimated NAV per share of common stock ranges between $7.19 and $7.29. This estimate is preliminary and subject to change, as it hasn't undergone typical quarter-end financial closing procedures.
The company cautions that its final NAV, to be reported in the monthly Form N-PORT, may differ from this estimate. OFS Credit also acknowledges potential impacts on its financial condition and portfolio investments from factors such as elevated interest rates, inflation, geopolitical conflicts, banking system instability, and the upcoming U.S. presidential election. The management-prepared financial data has not been audited or reviewed by KPMG LLP.
OFS Credit Company (NASDAQ: OCCI) has announced significant changes to its distribution policy. The company's board of directors has increased monthly cash distributions for common stockholders by 9.5%, from $0.105 to $0.115 per share for the quarter ending October 31, 2024. This increase applies to August, September, and October 2024 distributions.
Additionally, OFS Credit has declared monthly cash distributions for its preferred stock series through January 31, 2025. The 6.125% Series C, 6.00% Series D, and 5.25% Series E Term Preferred Stocks will receive their respective monthly distributions as scheduled.
The company also highlighted its Dividend Reinvestment Plan (DRIP), which offers common stockholders the opportunity to receive distributions in shares at a 5% discount to the market price on the valuation date.
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