OFS Credit (OCCI) lifts ATM to $200,000,000 and gives NAV range

Rhea-AI Filing Summary

OFS Credit Company, Inc. updates its at-the-market common stock offering program with an aggregate offering price of $200,000,000 under an existing equity distribution agreement with Lucid Capital Markets LLC and Ladenburg Thalmann & Co. Inc. including all shares previously sold. From January 24, 2020 to January 14, 2026, the company sold 18,208,315 shares at a weighted average price of $8.38 per share, generating approximately $150.9 million in net proceeds after commissions and fees. The company notes that its adviser may, at its discretion, pay some or all commissions or make supplemental payments so that sale prices are not below current net asset value per share.

The company also provides a December 2025 financial update, estimating unaudited net asset value per share as of December 31, 2025 in a range between $4.82 and $4.92. This NAV estimate is preliminary, has not gone through normal quarter-end closing procedures, and has not been audited, reviewed, or otherwise assured by KPMG LLP. The company highlights that future NAV and results could be materially affected by macroeconomic and geopolitical factors, including interest and inflation changes, regional conflicts, trade disputes, and potential recession risks.

Insights

Closed-end fund and BDC analyst

OFS Credit expands ATM capacity and gives a preliminary NAV range.

OFS Credit Company, Inc. reconfirms and expands its at-the-market common stock issuance capacity to an aggregate $200,000,000, covering all shares sold since 2020 under its equity distribution agreement. To date it has sold 18,208,315 shares at a weighted average $8.38, raising approximately $150.9 million in net proceeds, which reflects meaningful use of the program for balance sheet funding.

The filing also provides a preliminary, unaudited net asset value range of $4.82 to $4.92 per share as of December 31, 2025. Management stresses this is an estimate that did not follow full quarter-end procedures and carries no audit or review assurance from KPMG LLP. The company lists a broad set of macro and geopolitical factors that could materially affect future NAV, income, and portfolio valuations, underscoring sensitivity to interest rates, credit conditions, and global instability.

Overall, the information is descriptive rather than transformative, so the directional impact is neutral. Actual implications for investors will depend on how aggressively the remaining at-the-market capacity is used and how the disclosed risk factors play out in subsequent periods as more finalized financial data becomes available.

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

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Accepted by SEC EDGAR 01/15/2026 - 05:04 PM Learn about SEC filing dates

FAQ

What does OFS Credit Company, Inc. disclose about its at-the-market offering size?

OFS Credit Company, Inc. states that, pursuant to Amendment No. 7 to its equity distribution agreement, the aggregate offering price of its at-the-market common stock offering is up to $200,000,000, which amount includes all shares previously sold under the agreement.

How many shares has OFS Credit (OCCI) sold so far under the at-the-market program?

The company reports that from January 24, 2020 to January 14, 2026, it sold a total of 18,208,315 shares of common stock at a weighted average price of $8.38 per share under the equity distribution agreement, generating approximately $150.9 million in net proceeds after commissions and fees.

What is the preliminary net asset value per share disclosed by OFS Credit for December 31, 2025?

OFS Credit provides management’s unaudited estimate that its net asset value per share of common stock as of December 31, 2025 is between $4.82 and $4.92. This is described as an estimate, not a comprehensive statement of financial condition or results.

Has the December 31, 2025 NAV estimate for OFS Credit been audited or reviewed?

No. The company notes that the December 31, 2025 net asset value estimate did not undergo its typical quarter-end financial closing procedures. It also states that KPMG LLP has not audited, reviewed, compiled, or applied agreed-upon procedures to this preliminary financial data and therefore does not express any opinion or assurance on it.

What risks could materially affect OFS Credit’s future NAV and portfolio values?

The company indicates that its future net asset value, net investment income, and the fair value of its portfolio may be materially impacted by factors such as interest and inflation rate changes, the war between Russia and Ukraine, armed conflict and tensions in the Middle East, activity in South America, U.S. policy including tariffs and tax changes, trade disputes, instability in U.S. and international banking systems, recession risk, and prolonged shutdowns of U.S. government services.

Can OFS Credit’s investment adviser affect the commissions paid in the at-the-market sales?

Yes. OFS Credit states that its investment adviser, OFS Capital Management, LLC, may, from time to time and in its sole discretion, pay some or all commissions payable under the equity distribution agreement or make supplemental payments to ensure that sale prices per share in the at-the-market offering are not less than current net asset value per share. These payments will not be reimbursed by the company.

Filed pursuant to Rule 424(b)(3)

File No. 333-277773

PROSPECTUS SUPPLEMENT
(To Prospectus dated May 29, 2024) January 15, 2026

OFS Credit Company, Inc.

$200,000,000

Common Stock

This prospectus supplement supplements the prospectus dated May 29, 2024, as amended and supplemented to date (the “Prospectus”), which relate to the sale of shares of common stock of OFS Credit Company, Inc. in an “at the market offering” pursuant to an equity distribution agreement, dated January 24, 2020, as amended by Amendment No. 1 thereto, dated March 16, 2021, Amendment No. 2 thereto, dated April 22, 2021, Amendment No. 3 thereto, dated June 8, 2021, Amendment No. 4 thereto, dated December 7, 2021, Amendment No. 5 thereto, dated August 15, 2023, Amendment No. 6 thereto, dated June 12, 2024 and Amendment No. 7 thereto, dated March 14, 2025, with Lucid Capital Markets LLC and Ladenburg Thalmann & Co. Inc. (the “Equity Distribution Agreement”). The disclosure in this prospectus supplement supersedes disclosure elsewhere in the Prospectus to the extent such disclosure is inconsistent with the disclosure herein.

You should carefully read the entire Prospectus before investing in our common stock. You should also review the information set forth under the “Risk Factors” section beginning on page 22 of the Base Prospectus.

The terms “OFS Credit,” the “Company,” “we,” “us” and “our” generally refer to OFS Credit Company, Inc.

PRIOR SALES PURSUANT TO THE “AT THE MARKET” OFFERING

From January 24, 2020 to January 14, 2026, we sold a total of 18,208,315 shares of common stock at a weighted average price of $8.38 per share under the Equity Distribution Agreement (the “At-the-Market Offering”). The net proceeds as a result of these sales of common stock were approximately $150.9 million after deducting commissions and fees.

Pursuant to Amendment No. 2 to the Equity Distribution Agreement, the aggregate offering price of the At-the-Market Offering was increased to up to $50.0 million. Pursuant to Amendment No. 4 to the Equity Distribution Agreement, the aggregate offering price of the At-the-Market offering was increased to up to $70.0 million. Pursuant to Amendment No. 5 to the Equity Distribution Agreement, the aggregate offering price of the At-the-Market offering was increased to up to $130.0 million. Pursuant to Amendment No. 6 to the Equity Distribution Agreement, the aggregate offering price of the At-the-Market offering was increased to up to $150.0 million. Pursuant to Amendment No. 7 to the Equity Distribution Agreement, the aggregate offering price of the At-the-Market offering was increased to up to $200.0 million (which amount includes all of the shares previously sold pursuant to the Equity Distribution Agreement to date). OFS Capital Management, LLC, our investment adviser, may, from time to time and in its sole discretion, pay some or all of the commissions payable under the Equity Distribution Agreement or make additional supplemental payments to ensure that the sales price per share of our common stock in connection with the At-the-Market Offering made hereunder will not be less than our current net asset value per share. Any such payments made by the investment adviser will not be subject to reimbursement by us.

RECENT DEVELOPMENTS

December 2025 Financial Update

On January 15, 2026, we announced that management’s unaudited estimate of the range of our net asset value (“NAV”) per share of our common stock as of December 31, 2025 is between $4.82 and $4.92. This estimate is not a comprehensive statement of our financial condition or results for the month ended December 31, 2025. This estimate did not undergo the Company’s typical quarter-end financial closing procedures. We advise you that current estimates of our NAV per share may differ materially from future NAV estimates or determinations, including the determination for the period ending January 31, 2026, which will be reported in our monthly report on Form N-PORT.

Our financial condition, including the fair value of our portfolio investments, and results of operations may be materially impacted after December 31, 2025 by circumstances and events that are not yet known. To the extent our portfolio investments are adversely impacted by interest rate and inflation rate changes, the ongoing war between Russia and Ukraine, the escalated armed conflict and heightened regional tensions in the Middle East, activity in South America, the agenda of the U.S. Presidential administration, including the impact of tariff enactment and tax reductions, trade disputes with other countries, instability in the U.S. and international banking systems, the risk of recession or the impact of the prolonged shutdown of U.S. government services and related market volatility, or by other factors, we may experience a material adverse impact on our future NAV, net investment income, the underlying value of our investments, our financial condition and the financial condition of our portfolio investments.

The preliminary financial data included in this December 2025 Financial Update has been prepared by, and is the responsibility of, OFS Credit’s management. KPMG LLP has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, KPMG LLP does not express an opinion or any other form of assurance with respect thereto.