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OFS Credit Company Inc (OCCI) provides investors with specialized insights through its focused approach to structured credit markets. This news hub delivers timely updates on the company's strategic moves in floating rate instruments, CLO investments, and risk-managed credit portfolios.
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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.
OFS Credit Company (NASDAQ: OCCI) announced an estimated net asset value (NAV) per share of $13.44 to $13.54 as of December 31, 2020. This figure is unaudited and may significantly differ from future reports. The ongoing COVID-19 pandemic poses considerable risks, potentially impacting investment valuations and future net investment income. Management is responsible for the preliminary data, which has not been audited by KPMG LLP, and the company risks material adverse effects from the pandemic on its financial health.
OFS Credit Company (NASDAQ: OCCI) announced its unaudited net asset value (NAV) estimate as of November 30, 2020, ranging from $13.12 to $13.22. This figure is provisional and may not reflect the company's actual financial condition upon full reporting. The COVID-19 pandemic poses ongoing risks and uncertainties that could materially impact the valuation of the company’s investments and overall financial performance. The preliminary data has not been audited, and there could be substantial differences in the NAV reported in future filings.
OFS Credit Company (NASDAQ: OCCI) reported its financial results for the fiscal quarter ending October 31, 2020, with a net investment income of $1.2 million, or $0.35 per share. Core net investment income rose to $2.8 million, reflecting strong cash flow from CLOs due to low LIBOR rates. The company declared a distribution of $0.52 per share for Q1 2021, with an annualized rate of $2.08. The net asset value increased to $11.58 per share, up from $10.94. Total expenses increased slightly, while investments appreciated by approximately $3.1 million, mainly due to rising loan prices.
OFS Credit Company (NASDAQ: OCCI) announced an estimated net asset value (NAV) of $11.53 to $11.63 per share as of October 31, 2020. The company raised approximately $2.9 million by issuing 120,000 shares of its 6.60% Series B Term Preferred Stock due November 19, 2023. The proceeds will be directed towards new investments and general working capital. The ongoing COVID-19 pandemic poses significant risks and uncertainties which may adversely affect the company's financial performance and the valuation of its investments.
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