Ofs Credit Company Inc Stock Price, News & Analysis

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.

OFS Credit Company (NASDAQ:OCCI) has declared a quarterly cash distribution of $0.53 per share, marking a 2% increase from the previous quarter, payable on April 30, 2021. Stockholders can choose between cash or stock, with 80% of the distribution expected to be in shares. The Company also announced cash distributions for its 6.875% Series A and 6.60% Series B Term Preferred Stocks. The preferred share distributions are set at $0.1432292 and $0.1375 respectively for several upcoming months. Management anticipates that these actions will enhance the balance sheet and position the company for future investments.