OFS Credit Company Provides June 2023 Net Asset Value Update

Rhea-AI Summary

OFS Credit Company, Inc. (NASDAQ: OCCI) announced an unaudited estimate of the range of their net asset value (NAV) per share as of June 30, 2023, which is between $7.64 and $7.74. The estimate is not a comprehensive statement of their financial condition and may differ from future NAV estimates. Various factors, such as interest rates, inflation rates, geopolitical tensions, and market volatility, could impact their financial condition and portfolio investments.

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 June 30, 2023.

• Management’s unaudited estimate of the range of our NAV per share of our common stock as of June 30, 2023 is between $7.64 and $7.74. This estimate is not a comprehensive statement of our financial condition or results for the month ended June 30, 2023. This estimate did not undergo the Company’s typical quarter-end financial closing procedures. We advise you that current estimates of our NAV per share may differ materially from future NAV estimates or determinations, including the determination for the period ending July 31, 2023, which will be reported in our monthly report on Form N-PORT.

Our financial condition, including the fair value of our portfolio investments, and results of operations may be materially impacted after June 30, 2023 by circumstances and events that are not yet known. To the extent our portfolio investments are adversely impacted by rising interest rates and elevated inflation rates, the ongoing war between Russia and Ukraine, instability in the U.S. and international banking systems, the risk of recession and related market volatility, 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 rising interest rates and elevated inflation rates, the ongoing war between Russia and Ukraine, instability in the U.S. and international banking systems, the risk of recession and related 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/20230714768180/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 net asset value (NAV) estimate of OFS Credit Company, Inc. as of June 30, 2023?

The unaudited estimate of the range of their NAV per share is between $7.64 and $7.74.

Is the estimate a comprehensive statement of their financial condition?

No, the estimate is not a comprehensive statement of their financial condition.

Could future NAV estimates differ from the current estimate?

Yes, future NAV estimates may differ materially from the current estimate.

What factors could impact OFS Credit's financial condition and portfolio investments?

Factors such as rising interest rates, elevated inflation rates, geopolitical tensions, market volatility, and other unknown circumstances and events could impact their financial condition and portfolio investments.

Has the preliminary financial data been audited by KPMG LLP?

No, KPMG LLP has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial data.