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OFS Credit Company (Nasdaq: OCCI) has priced an underwritten public offering of 1,040,000 shares of 7.875% Series F Term Preferred Stock due 2029 at $25.00 per share, raising $26.0 million in gross proceeds. The company granted underwriters a 30-day option to purchase up to 156,000 additional shares. Expected net proceeds are approximately $25.0 million, or $28.8 million if the overallotment option is fully exercised.
The Preferred Stock is expected to trade on Nasdaq Capital Market under the symbol 'OCCIM' within 30 days from the issue date. OFS Credit Company plans to use the net proceeds to acquire investments aligned with its objectives and strategies. The offering is expected to close on October 2, 2024, subject to customary conditions.
OFS Credit Company, Inc. (Nasdaq: OCCI, OCCIN, OCCIO) has announced plans to offer shares of its Series F Term Preferred Stock in an underwritten public offering. The company has applied to list the Preferred Stock on the Nasdaq Capital Market under the symbol "OCCIM", with trading expected to begin within 30 days from the original issue date.
The company intends to use the net proceeds to acquire investments aligned with its objectives and strategies. Lucid Capital Markets, B. Riley Securities, Janney Montgomery Scott, and InspereX are acting as joint bookrunners, with Ladenburg Thalmann as co-manager. Investors are advised to carefully review the preliminary prospectus supplement and accompanying prospectus for detailed information.
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