OFS Credit Company Provides May 2024 Net Asset Value Update

Rhea-AI Summary

OFS Credit Company has released an unaudited estimate of its net asset value (NAV) per share as of May 31, 2024, which ranges between $7.35 and $7.45. This estimate does not reflect the company's complete financial condition for the period and wasn't prepared using typical quarter-end financial closing procedures. Future NAV estimates may differ due to various factors, including market volatility, elevated interest and inflation rates, geopolitical tensions, and potential U.S. government shutdowns. The preliminary data is the responsibility of OFS Credit's management and has not been audited by KPMG LLP.

Positive

• NAV per share estimated between $7.35 and $7.45, showing a specific range.
• Unaudited estimate provides shareholders with timely information.
• OFS Credit management takes responsibility for preliminary financial data.

Negative

• NAV estimate is unaudited and may change significantly.
• Estimate did not follow typical quarter-end financial closing procedures.
• External factors like geopolitical tensions and U.S. government instability could negatively impact future NAV.
• Preliminary data not reviewed or assured by KPMG LLP.
• Potential material adverse impacts on net investment income and portfolio value due to economic 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 May 31, 2024.

• Management’s unaudited estimate of the range of our NAV per share of our common stock as of May 31, 2024 is between $7.35 and $7.45. This estimate is not a comprehensive statement of our financial condition or results for the month ended May 31, 2024. This estimate did not undergo the Company’s typical quarter-end financial closing procedures. We advise you that the 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, 2024, 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 May 31, 2024 by circumstances and events that are not yet known. To the extent our portfolio investments are adversely impacted by elevated interest and inflation rates, the ongoing war between Russia and Ukraine, the escalated armed conflict in the Middle East, instability in the U.S. and international banking systems, the risk of recession or a shutdown of U.S. government services 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 primary investment objective is to generate current income, with a secondary objective to generate capital appreciation, which we seek to achieve primarily through investment in CLO equity and debt 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 elevated interest and inflation rates, the ongoing war between Russia and Ukraine, the escalated armed conflict in the Middle East, instability in the U.S. and international banking systems, the risk of recession or a shutdown of U.S government services 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/20240612072470/en/

INVESTOR RELATIONS:

OFS Credit Company, Inc.

Steve Altebrando

847-734-2085

investorrelations@ofscreditcompany.com

MEDIA RELATIONS:

Bill Mendel

212-397-1030

bill@mendelcommunications.com

Source: OFS Credit Company, Inc.

FAQ

What is the estimated NAV per share for OFS Credit as of May 31, 2024?

The estimated NAV per share for OFS Credit as of May 31, 2024, ranges between $7.35 and $7.45.

Is the NAV estimate for OFS Credit as of May 31, 2024, audited?

No, the NAV estimate as of May 31, 2024, is unaudited and was not reviewed by KPMG LLP.

What factors could impact OFS Credit's future NAV and financial condition?

Factors include market volatility, elevated interest and inflation rates, geopolitical tensions, and potential U.S. government shutdowns.

How reliable is the NAV estimate provided by OFS Credit for May 31, 2024?

The NAV estimate is preliminary and not prepared using typical quarter-end financial closing procedures, thus it may change significantly.

Who is responsible for the preliminary NAV estimate of OFS Credit?

The preliminary NAV estimate is prepared by OFS Credit's management and has not been audited by KPMG LLP.