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 announced monthly cash distributions for its 6.125% Series C Term Preferred Stock through July 2021. The Board declared distributions for stockholders of record on specified dates, with payments ranging from $0.0127604 to $0.1276042 per share. Key payment dates include April 30, May 31, June 30, and July 30, 2021. OFS Credit aims to generate current income and capital appreciation primarily via CLO equity and debt investments. The company is externally managed by OFS Capital Management, LLC, based in Chicago.
OFS Credit Company (Nasdaq: OCCI, OCCIP) has priced an underwritten public offering of 800,000 shares of its 6.125% Series C Term Preferred Stock due 2026 at $25.00 per share, raising $20.0 million in gross proceeds. The underwriters have a 30-day option to purchase an additional 120,000 shares. Net proceeds are estimated at $19.2 million, intended for investment acquisition and working capital, including potential redemption of Series A and B Preferred Stock. The shares are expected to trade on Nasdaq under symbol “OCCIO” starting within 30 days.
OFS Credit Company plans to offer shares of its Series C Term Preferred Stock in an underwritten public offering, with terms to be negotiated. The preferred stock is expected to trade on Nasdaq under the symbol 'OCCIO' within 30 days. Proceeds will be used for investments and general working capital, including the potential redemption of existing Series A and B preferred stocks. Underwriters include Ladenburg Thalmann, B. Riley Securities, National Securities, and Incapital. Investors should review the preliminary prospectus for detailed information and risks before investing.
OFS Credit Company (NASDAQ: OCCI) announced its estimated net asset value (NAV) per share of common stock as of March 31, 2021, is between $13.39 and $13.49. This estimate is unaudited and may differ from the final NAV reported on April 30, 2021. The company highlighted that the ongoing COVID-19 pandemic poses significant risks that might adversely affect its investments and overall financial condition. Management bears full responsibility for the preliminary financial data, which has not undergone independent review.
OFS Credit Company has priced its public offering of 1,025,000 shares of common stock at $14.67 per share, with an option for underwriters to purchase an additional 153,750 shares. The offering is expected to close on March 30, 2021, with net proceeds estimated at approximately $14.1 million, potentially increasing to $16.3 million if the over-allotment option is exercised. Funds will be used for investments, redeeming preferred stock, and general working capital. Joint book-running managers include National Securities Corporation and B. Riley Securities.
OFS Credit Company has initiated an underwritten public offering of its common stock, with the potential to grant underwriters an option for an additional 15% of shares sold. Proceeds from this offering will be utilized for investments, redeeming preferred stock, and general working capital. The actual terms will depend on market conditions, and the completion of the offering is not assured. National Securities Corporation and B. Riley Securities are among the joint book-running managers.
OFS Credit Company (NASDAQ: OCCI) released an unaudited net asset value (NAV) estimate for its common stock, ranging from $14.03 to $14.13 as of February 28, 2021. This estimate is subject to significant revisions in the upcoming Form N-CSR due to potential impacts from the COVID-19 pandemic. The company warns that the pandemic poses significant risks affecting investment valuations and future net income. The financial data is preliminary and has not been audited by KPMG LLP, indicating a lack of assurance regarding these figures.
OFS Credit Company reported financial results for the quarter ended January 31, 2021, revealing a net investment income of $1.1 million ($0.29 per share) and a core net investment income of $2.6 million ($0.72 per share). The company's net asset value rose 22% to $14.14 per share. A quarterly distribution of $0.53 per share was declared, reflecting a 2% increase from the previous quarter. As of January 31, 2021, the total fair value of investments stood at $71.4 million, with a stable interest income of $2.75 million. The company experienced a net gain of approximately $10 million from investments during the quarter.
OFS Credit Company (NASDAQ: OCCI) has announced its unaudited net asset value (NAV) estimate for January 31, 2021, ranging from $14.09 to $14.19 per share. This estimate is preliminary and has not been audited, indicating potential deviations when reported officially. The company warns that the ongoing COVID-19 pandemic may significantly affect its financial condition and the valuation of its investments, leading to potential adverse impacts on future income and overall financial health.
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