OFS Credit Company Provides July 2022 Net Asset Value Update

Rhea-AI Summary

OFS Credit Company (NASDAQ: OCCI) reported a preliminary net asset value (NAV) estimate for its common stock as of July 31, 2022, ranging from $10.56 to $10.66. This estimate is unaudited and subject to change, pending the monthly N-PORT report. The Company cautioned that external factors such as the COVID-19 pandemic, interest rate fluctuations, and the Russia-Ukraine conflict may adversely impact its financial condition and future operations. The press release also emphasizes that the preliminary data has not been audited by KPMG LLP.

Positive

• Preliminary NAV estimate per share is between $10.56 and $10.66.
• Company's investment strategy focuses on CLO debt and equity securities.

Negative

• NAV estimate may differ from the final report.
• Potential adverse impacts on financial condition due to external factors.

CHICAGO--(BUSINESS WIRE)-- OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced the following net asset value (“NAV”) estimate as of July 31, 2022.

• Management’s unaudited estimate of the range of our NAV per share of our common stock as of July 31, 2022 is between $10.56 and $10.66. This estimate is not a comprehensive statement of our financial condition or results for the month ended July 31, 2022. This estimate did not undergo the Company’s typical quarter-end financial closing procedures and was not approved by the Company’s board of directors. We advise you that our NAV per share as of July 31, 2022, which will be reported in our monthly report on Form N-PORT, may differ from this estimate.

Our financial condition, including the fair value of our portfolio investments, and results of operations may be materially impacted after July 31, 2022 by circumstances and events that are not yet known. To the extent our portfolio investments are adversely impacted by the COVID-19 pandemic, changes in base interest and inflation rates, the ongoing conflict between Russia and Ukraine, or by other factors, we may experience a material adverse impact on our future net investment income, the underlying value of our investments, our financial condition and the financial condition of our portfolio investments.

The preliminary financial data included in this press release has been prepared by, and is the responsibility of, OFS Credit’s management. KPMG LLP has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, KPMG LLP does not express an opinion or any other form of assurance with respect thereto.

About OFS Credit Company, Inc.

OFS Credit is a non-diversified, externally managed closed-end management investment company. The Company’s investment objective is to generate current income, with a secondary objective to generate capital appreciation primarily through investment in CLO debt and subordinated securities. The Company's investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 1940¹, as amended, 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 may constitute forward-looking statements. 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 documents that may be filed by OFS Credit from time to time with the Securities and Exchange Commission, as well as the impact of the COVID-19 pandemic, changes in base interest and inflation rates, the ongoing conflict between Russia and Ukraine and significant market volatility on our business, our portfolio companies, our industry and the global economy. 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 Credit 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.

¹ Registration does not imply a certain level of skill or training

View source version on businesswire.com: https://www.businesswire.com/news/home/20220816005704/en/

INVESTOR RELATIONS:

OFS Credit Company, Inc.

Steve Altebrando, 646-652-8473

saltebrando@ofsmanagement.com

MEDIA RELATIONS:

Bill Mendel

212-397-1030

bill@mendelcommunications.com

Source: OFS Credit Company, Inc.

FAQ

What is the NAV estimate for OCCI as of July 31, 2022?

The NAV estimate for OCCI is between $10.56 and $10.66.

Why is OCCI's NAV estimate unaudited?

The NAV estimate has not undergone the Company's typical quarter-end financial procedures and is not audited by KPMG LLP.

What factors could negatively impact OCCI's financial condition?

OCCI may face adverse impacts from the COVID-19 pandemic, changes in interest rates, and the ongoing Russia-Ukraine conflict.

When will OCCI report its finalized NAV?

OCCI will report its finalized NAV in its monthly report on Form N-PORT.