Ofs Credit Company Inc Stock Price, News & Analysis

OFS Credit Company, Inc. (NASDAQ: OCCI) reported its financial results for the fourth fiscal quarter and the year ending October 31, 2021. The Company achieved a net asset value per share of $14.00 and a net investment income of $2.8 million, or $0.38 per share, marking an increase from the prior quarter. Core net investment income rose to $5.1 million, or $0.69 per share. A quarterly dividend of $0.55 per share was declared, payable on January 31, 2022. Additionally, the investment portfolio's fair value stood at $149.7 million, reflecting robust performance.

OFS Credit Company (NASDAQ: OCCI) announced monthly cash distributions for its preferred stock series, effective through July 31, 2022. The distributions include $0.1375 per share for the 6.60% Series B, $0.1276042 for the 6.125% Series C, $0.125 for the 6.00% Series D, and $0.109375 for the 5.25% Series E, payable on specified dates. The company focuses on generating income and capital appreciation through investments in CLO equity and debt securities, managed by OFS Capital Management.

OFS Credit Company (NASDAQ: OCCI) announced a quarterly distribution of $0.55 per share for common stockholders, declared on December 1, 2021, and payable on January 31, 2022. The distribution will be primarily in shares, with cash limited to 20% of the total. This move aims to strengthen its balance sheet, allowing the company to seize future investment opportunities. Stockholders must submit election forms by January 18, 2022 to determine their distribution preferences.

OFS Credit Company announced a public offering of 1,220,000 shares of 5.25% Series E Term Preferred Stock due 2026, priced at $25.00 per share, raising $30.5 million in gross proceeds. With a 30-day underwriter option for an additional 180,000 shares, the net proceeds are expected to be approximately $29.3 million. The Company plans to use the funds for investment acquisitions and potential redemption of its outstanding 6.875% Series A Term Preferred Stock. The new shares are set to be listed on the Nasdaq under the symbol 'OCCIN'.

OFS Credit Company, Inc. (NASDAQ: OCCI, OCCIP, OCCIO) announced plans for an underwritten public offering of its Series E Term Preferred Stock, expected to trade on Nasdaq under the symbol 'OCCIN'. The offering price and terms will be determined through negotiations with underwriters. Proceeds will be utilized to acquire investments in line with the company's strategies and may also be used to redeem outstanding Series A Term Preferred Stock maturing in 2024. The underwriters include Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc., and InspereX LLC.

OFS Credit Company, Inc. (NASDAQ: OCCI) has announced preliminary financial estimates for Q4 and the fiscal year ending October 31, 2021. Net asset value is projected between $13.95 and $14.05 per share. Net investment income is expected to be between $0.37 and $0.39 per share, an increase from $0.26 in Q3. Core net investment income is estimated to range from $0.68 to $0.70 per share. As of October 31, the company had $15.0 million in cash available.

OFS Credit Company (NASDAQ: OCCI) released an unaudited estimated NAV per share ranging from $13.95 to $14.05 for its common stock as of October 31, 2021. This estimate has not been approved by the board and may differ in the upcoming Annual Report on Form N-CSR. The company warns that the ongoing COVID-19 pandemic may materially impact its investments and financial condition. KPMG LLP did not audit the preliminary data provided in the release, indicating that it should not be regarded as conclusive.

OFS Credit Company, Inc. (NASDAQ: OCCI) announced an estimated net asset value (NAV) per share of $13.68 to $13.78 for September 30, 2021. This figure is unaudited and subject to change, with the official NAV to be reported in the upcoming Annual Report. The company cautioned that the COVID-19 pandemic poses significant risks, potentially impacting the value of its investments and future income. KPMG LLP did not audit the preliminary data, thereby not providing any assurance regarding its accuracy.