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), an investment company focused on CLO equity and debt securities, has released its estimated Net Asset Value (NAV) per share for January 31, 2025. Management estimates the NAV to be between $6.95 and $7.05 per share.
The company notes that this is a preliminary estimate that hasn't undergone typical quarter-end financial closing procedures. The final NAV determination, to be reported in their Form N-PORT, may differ from this estimate. The company acknowledges potential impacts on their portfolio from various factors, including interest rate changes, inflation, the Russia-Ukraine conflict, U.S. banking system instability, and recession risks.
OFS Credit Company (NASDAQ: OCCI) 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 roles include Assistant Controller at Thoma Bravo, LP and Controller at Fidus Investment He began his career in public accounting at BDO as an Audit Manager.
The incoming CFO holds a Bachelor of Science degree in Accounting and Management from Purdue University and has been a Certified Public Accountant since 2010. The company, which primarily invests in CLO equity and debt securities, emphasized Spina's deep understanding of the company and industry.
OFS Credit Company (Nasdaq: OCCI), an investment company focused on CLO equity and debt securities, has released its estimated Net Asset Value (NAV) per share for December 31, 2024. Management estimates the NAV to be between $6.98 and $7.08 per share.
The company emphasizes that this estimate is preliminary and has not undergone typical quarter-end financial closing procedures. The actual NAV could differ materially from these estimates, particularly for the period ending January 31, 2025. The company acknowledges potential impacts on its portfolio from various factors, including interest rate changes, inflation, geopolitical conflicts in Ukraine and the Middle East, U.S. banking system instability, and recession risks.
OFS Credit Company (NASDAQ: OCCI) has released its estimated net asset value (NAV) per share for November 30, 2024. The company, which primarily invests in CLO equity and debt securities, estimates its NAV per share to be between $7.03 and $7.13.
The company notes that this estimate is preliminary and has not undergone typical quarter-end financial closing procedures. Management cautions that future NAV estimates may differ materially, particularly for the period ending January 31, 2025. The company acknowledges potential impacts from various factors including interest rates, inflation, geopolitical conflicts, banking system instability, and recession risks.
OFS Credit Company (NASDAQ: OCCI) announced financial results for Q4 2024, reporting net investment income (NII) of $4.5 million ($0.24 per share), up from $3.9 million in Q3. Core net investment income reached $10.7 million ($0.57 per share), compared to $7.6 million in Q3.
The company's NAV per share decreased to $7.18 from $7.24, primarily due to distributions exceeding quarterly NII. The investment portfolio's interest income yield was 14.49%. During Q4, OCCI issued 3.85 million common shares through ATM offering, raising $27.9 million, and 1.196 million shares of 7.875% Series F Preferred Stock for $28.8 million net proceeds.
The company deployed $81.1 million in CLO equity and warehouse investments, with total portfolio fair value reaching $214.9 million across 77 issuers.
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.
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