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) released its unaudited net asset value (NAV) estimate for common stock as of June 30, 2021, ranging from $13.74 to $13.84. This preliminary estimate is not exhaustive and may change by the next report on Form N-PORT. Additionally, the company expressed concerns regarding the ongoing impacts of the COVID-19 pandemic, which could materially affect its investment portfolio's value and future net income. The data has not been audited by KPMG LLP, and potential risks are highlighted related to market volatility.
OFS Credit Company, Inc. (NASDAQ: OCCI) has updated its net asset value (NAV) estimate, reporting a range of $14.19 to $14.29 per share as of May 31, 2021. The company raised approximately $2.9 million through the issuance of 120,000 shares of 6.0% Series D Term Preferred Stock, priced at $24.50 each. The proceeds will be used for investments and general working capital. The press release highlights potential adverse impacts from the COVID-19 pandemic on the company's investments and financial condition, which could affect future NAV.
OFS Credit Company (NASDAQ: OCCI) reported a fiscal Q2 2021 net investment income of $1.0 million ($0.25 per share) and core net investment income of $2.9 million ($0.69 per share). The company announced a quarterly distribution of $0.54 per share, a 2% increase from the previous quarter, payable on July 30, 2021. As of April 30, 2021, the investment portfolio had a fair value of $100.4 million. Despite a slight increase in total expenses, the company benefited from a 105% total return over the past year, aided by effective CLO management and increased equity financing totaling $23.4 million.
OFS Credit Company (NASDAQ:OCCI) has declared a quarterly distribution of $0.54 per share, marking a 2% increase from the previous quarter for the period ending July 31, 2021. The distribution will consist of 20% cash and 80% stock, allowing stockholders to choose their preferred option. The record date is June 14, 2021, with a payment date set for July 30, 2021. OFS Credit aims to strengthen its balance sheet through this distribution, positioning itself for future investment opportunities.
OFS Credit Company (NASDAQ: OCCI) has announced its unaudited net asset value (NAV) estimate for April 30, 2021, projecting a range of $13.91 to $14.01 per share. This estimate is preliminary and may differ from the upcoming Semi-Annual Report. Additionally, the company acknowledges that the ongoing COVID-19 pandemic poses significant uncertainties affecting its financial performance and investment valuations. The management is responsible for this preliminary data, which has not been reviewed by KPMG LLP.
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.
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