Welcome to our dedicated page for Ofs Credit news (Ticker: OCCI), a resource for investors and traders seeking the latest updates and insights on Ofs Credit stock.
OFS Credit Company, Inc. reports recurring fund updates as a non-diversified, externally managed closed-end management investment company that primarily invests in collateralized loan obligation, or CLO, equity and debt securities. Its news commonly covers monthly unaudited NAV estimate ranges, fiscal-quarter financial results, net investment income, portfolio valuation, and board-declared common stock cash distributions.
Company updates also describe the dividend reinvestment plan for common stockholders and the role of OFS Capital Management, LLC as the registered investment adviser managing the company's investment activities.
OFS Credit Company (NASDAQ: OCCI) has released its estimated net asset value (NAV) per share for November 30, 2024. The company, which primarily invests in CLO equity and debt securities, estimates its NAV per share to be between $7.03 and $7.13.
The company notes that this estimate is preliminary and has not undergone typical quarter-end financial closing procedures. Management cautions that future NAV estimates may differ materially, particularly for the period ending January 31, 2025. The company acknowledges potential impacts from various factors including interest rates, inflation, geopolitical conflicts, banking system instability, and recession risks.
OFS Credit Company (NASDAQ: OCCI) announced financial results for Q4 2024, reporting net investment income (NII) of $4.5 million ($0.24 per share), up from $3.9 million in Q3. Core net investment income reached $10.7 million ($0.57 per share), compared to $7.6 million in Q3.
The company's NAV per share decreased to $7.18 from $7.24, primarily due to distributions exceeding quarterly NII. The investment portfolio's interest income yield was 14.49%. During Q4, OCCI issued 3.85 million common shares through ATM offering, raising $27.9 million, and 1.196 million shares of 7.875% Series F Preferred Stock for $28.8 million net proceeds.
The company deployed $81.1 million in CLO equity and warehouse investments, with total portfolio fair value reaching $214.9 million across 77 issuers.
OFS Credit Company (Nasdaq: OCCI) has released its estimated net asset value (NAV) per share for October 31, 2024. The unaudited NAV estimate ranges between $7.13 and $7.23 per share. The company notes this is a preliminary estimate that hasn't undergone typical quarter-end financial closing procedures and may differ from the final NAV to be reported in their Annual Report on Form N-CSR. The company primarily invests in collateralized loan obligation (CLO) equity and debt securities. Management acknowledges potential impacts on their portfolio from factors including interest rate changes, inflation, geopolitical conflicts, banking system instability, and recession risks.
OFS Credit Company (Nasdaq: OCCI) has announced monthly cash distributions of $0.115 per share of common stock for the quarter ending January 31, 2025. The distributions will be paid to stockholders of record on November 19, December 20, 2024, and January 21, 2025, with respective payment dates of November 29, December 31, 2024, and January 31, 2025.
The company also offers a Dividend Reinvestment Plan (DRIP) that allows common stockholders to receive shares at a 5% discount to the market price on the valuation date. The DRIP shares are issued at 95% of the market price based on Nasdaq Capital Market closing prices.
OFS Credit Company (Nasdaq: OCCI) has released its estimated net asset value (NAV) per share for September 30, 2024. Management's unaudited estimate places the NAV between $6.98 and $7.08 per share. The company, which primarily invests in collateralized loan obligation (CLO) equity and debt securities, emphasizes that this estimate is not a comprehensive financial statement and did not undergo typical quarter-end financial closing procedures.
OFS Credit cautions that current NAV estimates may differ materially from future determinations, including the upcoming October 31, 2024 report in their Annual Report on Form N-CSR. The company acknowledges potential impacts on its financial condition and portfolio investments due to factors such as elevated interest and inflation rates, geopolitical conflicts, banking system instabilities, and U.S. political uncertainties. These factors could materially affect future net investment income and the value of investments.
OFS Credit Company (Nasdaq: OCCI), an investment company focused on CLO equity and debt securities, has announced monthly cash distributions for its 7.875% Series F Term Preferred Stock (Nasdaq: OCCIM) through January 31, 2025. The company's board of directors declared the following distribution schedule:
- October 2024: $0.15859375 per share (Record Date: October 21, Payment Date: October 31)
- November 2024: $0.1640625 per share (Record Date: November 19, Payment Date: November 29)
- December 2024: $0.1640625 per share (Record Date: December 20, Payment Date: December 31)
- January 2025: $0.1640625 per share (Record Date: January 21, Payment Date: January 31)
These distributions apply to preferred stockholders of record on the close of business of each specific record date.
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.
OFS Credit Company (NASDAQ: OCCI) has released its estimated net asset value (NAV) per share for August 31, 2024. The unaudited estimate ranges between $7.04 and $7.14. This estimate is preliminary and may differ from future NAV determinations, including the one for October 31, 2024, to be reported in the Annual Report on Form N-CSR.
The company primarily invests in collateralized loan obligation (CLO) equity and debt securities. Management cautions that the financial condition and results may be materially impacted by various factors, including elevated interest rates, inflation, geopolitical conflicts, and economic uncertainties. The estimate has not undergone typical quarter-end financial closing procedures and has not been reviewed or audited by KPMG LLP.
OFS Credit Company (Nasdaq: OCCI), an investment firm focusing on collateralized loan obligation (CLO) equity and debt securities, released its financial results for Q3 FY 2024, ending July 31, 2024. Key highlights include:
- Net investment income (NII) of $3.9 million, or $0.24 per common share, down from $4.5 million ($0.28 per share) in the prior quarter.
- Core NII at $7.6 million ($0.47 per share), compared to $8.4 million ($0.53 per share) in Q2.
- Net asset value (NAV) per share decreased to $7.24 from $7.34, mainly due to distributions exceeding quarterly NII.
Despite a decrease in recurring waterfall payments, the company declared a 9.5% increase in monthly cash distributions to $0.115 per common share for Q4 2024. The investment portfolio's fair value was $161.1 million, with a cash flow yield of 21.61% based on amortized cost.