Eagle Point Credit converts to Delaware Statutory Trust

Eagle Point Credit Company converted from a Delaware corporation to a Delaware Statutory Trust effective May 22, 2026.

Rhea-AI Filing Summary

Eagle Point Credit Company converted from a Delaware corporation to a Delaware Statutory Trust effective May 22, 2026. Upon effectiveness the Company changed its name to Eagle Point Credit Company and each outstanding share of common and preferred stock converted into one corresponding share of beneficial interest.

The Company’s common shares and its listed preferred series remain listed on the NYSE under the same ticker symbols. The Company is subject to the Delaware Statutory Trust Act control share acquisition statute, which restricts voting rights for ‘‘control shares’’ unless approved by a two‑thirds affirmative vote of holders voting (excluding interested shares), and the Board has not granted any exemptions.

Insights

Corporate Governance Lawyer

Conversion to a statutory trust introduces Delaware control‑share mechanics and shareholder voting tests.

The conversion effective May 22, 2026 moved the issuer into the Delaware Statutory Trust Act framework, making the Control Share Statute automatically applicable to this listed closed‑end fund. The filing states each security converted one‑for‑one into a corresponding beneficial interest.

The Control Share Statute denies voting rights for acquired "control shares" unless approved by an affirmative two‑thirds vote of votes entitled to be cast, excluding interested shares. The Board retains discretion to exempt acquisitions but has not done so. Recent court decisions create legal uncertainty under the 1940 Act.

Fund Structuring Specialist

Operationally the conversion preserves existing listings and security terms while shifting corporate form.

The supplement confirms the Company’s common shares and multiple preferred series remain listed on the NYSE under their existing tickers after conversion. Each outstanding common and preferred share converted into a like number of beneficial interests reflecting the same terms.

This structure preserves trading continuity; governance and takeover mechanics now reference statutory control‑share thresholds and Board exemption authority. Timing and cash‑flow impacts are not described in this excerpt.

Key Figures

Conversion effective date: May 22, 2026 Common ticker: ECC Series C preferred yield and maturity: 6.50% Series C Term Preferred Shares due 2031 +3 more

6 metrics

Conversion effective date May 22, 2026 Conversion from Delaware corporation to Delaware Statutory Trust

Common ticker ECC Common shares remain listed on the NYSE under this ticker

Series C preferred yield and maturity 6.50% Series C Term Preferred Shares due 2031 Preferred series listed post‑conversion

Series D preferred yield 6.75% Series D Preferred Shares Preferred series listed post‑conversion

Convertible preferred yield 7.00% Series Convertible and Perpetual Preferred Shares Listed preferred series referenced in supplement

Control Share Statute vote threshold two‑thirds affirmative vote Approval required to grant voting rights to control shares (excluding interested shares)

Key Terms

Delaware Statutory Trust, control shares, interested shares, Form N-2

4 terms

Delaware Statutory Trust regulatory

"converted from a Delaware corporation to a Delaware Statutory Trust (the "Conversion")"

A Delaware statutory trust is a legal structure created under Delaware law that holds assets—often real estate or income-producing property—and issues shares of ownership to investors. It separates the assets and liabilities of the trust from individual investors, like a shared landlord that collects rent and pays expenses, and matters to investors because it can simplify ownership, limit personal liability, and make it easier to receive steady income or trade ownership stakes without managing properties directly.

control shares regulatory

"The Control Share Statute defines "control beneficial interests" (referred to as "control shares" herein)"

interested shares regulatory

"excluding all interested shares (generally, shares held by the acquiring person and their associates and shares held by Company insiders)"

Form N-2 regulatory

"included in the Registration Statement on Form N-2 (File Nos. 333-286484 and 811-22974)"

Form N-2 is a U.S. Securities and Exchange Commission filing that investment companies use to register and describe closed-end funds and certain management companies for public investors. It lays out the fund’s purpose, fees, risks, portfolio policies and management team—like a detailed product label for a financial product—so investors can compare offerings, understand costs and risks, and make informed decisions before buying shares.

Offering Details

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Offering

Offering Type base_shelf_indeterminate

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did Eagle Point Credit Company (ECC) make on May 22, 2026?

The company converted from a Delaware corporation to a Delaware Statutory Trust on May 22, 2026, and changed its name to Eagle Point Credit Company. Each outstanding share converted into one corresponding beneficial interest under the trust structure.

Do Eagle Point’s listed securities keep trading under the same tickers?

Yes. The supplement states the Company’s common shares and specified preferred series continue to be listed on the NYSE under their existing ticker symbols, preserving the public trading identifiers after conversion.

How does the Delaware Control Share Statute affect voting rights at ECC?

The statute treats certain large acquisitions as "control shares" and denies voting rights for those shares unless approved by an affirmative two‑thirds vote of votes entitled to be cast, excluding interested shares, or unless the Board grants an exemption.

Has the Board exempted any acquisitions from the Control Share Statute?

No. The supplement states the Board has not exempted any acquisitions or classes of acquisitions for purposes of the Control Share Statute following the Conversion.

Are there legal uncertainties about applying control share statutes to closed‑end funds?

Yes. The disclosure notes recent federal and state court decisions have created uncertainty regarding whether control share provisions conflict with the Investment Company Act of 1940, as referenced in the supplement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/22/2026 - 04:33 PM Learn about SEC filing dates

Filed Pursuant to Rule 424(b)(5)

1933 Act File No. 333-286484

1940 Act File No. 811-22974

Prospectus Supplement No. 2

(To Prospectus dated April 11, 2025, Prospectus Supplement dated April 11, 2025, and Prospectus Supplement dated April 18, 2025)

EAGLE POINT CREDIT COMPANY

Common Shares

Preferred Shares

Subscription Rights

Debt Securities 

6.50% Series C Term Preferred Shares due 2031

6.75% Series D Preferred Shares

7.00% Series AA Convertible and Perpetual Preferred Shares

7.00% Series AB Convertible and Perpetual Preferred Shares

This Prospectus Supplement No. 2 (“Supplement No. 2”) supplements and amends the Prospectus Supplement dated April 11, 2025 (the “ATM Prospectus Supplement”), the Prospectus Supplement dated April 18, 2025 (the “Convertible Preferred Prospectus Supplement”), and the Prospectus dated April 11, 2025 (the “Base Prospectus”), included in the Registration Statement on Form N-2 (File Nos. 333-286484 and 811-22974), each previously filed by Eagle Point Credit Company Inc. (the “Company”) with the Securities and Exchange Commission.

On May 22, 2026, the Company converted from a Delaware corporation to a Delaware Statutory Trust (the “Conversion”). Upon effectiveness of the Conversion, (i) the Company changed its name to Eagle Point Credit Company, (ii) each outstanding share of common stock converted into one common share of beneficial interest of the Company and (iii) each outstanding share of preferred stock converted into one preferred share of beneficial interest of the Company of a corresponding series reflecting the same terms and designations as the respective series of preferred stock from which it converted.

The Company’s (i) common shares of beneficial interest continue to be listed on the New York Stock Exchange (the “NYSE”) under the ticker symbol ECC, (ii) 6.50% Series C Term Preferred Shares due 2031 continue to be listed on the NYSE under the ticker symbol ECCC and (iii) 6.75% Series D Preferred Shares continue to be listed on the NYSE under the ticker symbol ECC PRD.

The Company is subject to the control share acquisition statute (the “Control Share Statute”) contained in Subchapter III of the Delaware Statutory Trust Act (the “DSTA”), which is automatically applicable to listed closed-end funds, such as the Company.

The Control Share Statute defines “control beneficial interests” (referred to as “control shares” herein) by reference to a series of voting power thresholds and provides that a holder of control shares acquired in a control share acquisition has no voting rights under the DSTA or the Company’s governing documents with respect to the control shares acquired in the control share acquisition, except to the extent approved by the Company’s shareholders by the affirmative vote of two-thirds of all the votes entitled to be cast on the matter, excluding all interested shares (generally, shares held by the acquiring person and their associates and shares held by Company insiders), or otherwise exempted by the Board. The Control Share Statute provides for a series of voting power thresholds above which shares are considered control shares. Whether one of these thresholds of voting power is met is determined by aggregating the holdings of the acquiring person as well as those of his, her or its “associates.”

These thresholds are:

· 10% or more, but less than 15% of all voting power;

· 15% or more, but less than 20% of all voting power;

· 20% or more, but less than 25% of all voting power;

· 25% or more, but less than 30% of all voting power;

· 30% or more, but less than a majority of all voting power; or

· a majority or more of all voting power.

The Board of the Company considered the Conversion, including the application of the Control Share Statute to the Company, and determined that the Conversion is in the best interests of the Company and its shareholders.

The Control Share Statute does not provide that the Company can generally “opt out” of the application of the Control Share Statute; rather, the Board is permitted, but not obligated, to exempt acquisitions specifically, generally, or generally by type of control shares, either in advance or retroactively. The Control Share Statute further provides that the Board is under no obligation to grant any such exemptions. The Board has not exempted any acquisitions or classes of acquisitions for purposes of the Control Share Statute.

The foregoing is only a summary of certain aspects of the Control Share Statute. Some uncertainty around the application under the Investment Company Act of 1940, as amended (the “1940 Act”), of state control share statutes exists as a result of recent federal and state court decisions that have found that certain control share acquisition provisions violate the 1940 Act.

This Supplement No. 2 is not complete without, and may not be delivered or used except in connection with, the ATM Prospectus Supplement or the Convertible Preferred Prospectus Supplement and, in either case, the Base Prospectus.

The date of this Supplement No. 2 is May 22, 2026.