Eagle Point Reports 408,921 Preferred Shares of OFS Credit (OCCIO)
Rhea-AI Filing Summary
OFS Credit Company, Inc. preferred stock ownership disclosure shows Eagle Point Credit Management LLC beneficially owns 408,921 shares, representing 8.8% of the class. The filing reports Eagle Point has sole voting and sole dispositive power over all shares reported.
The statement clarifies these securities were not acquired to change or influence control of the issuer and that the disclosure is made under the Schedule 13G framework. The filing identifies the securities class as Preferred Stock and lists the reporting person as Eagle Point Credit Management LLC organized in Delaware.
Positive
- Material institutional stake disclosed: Eagle Point beneficially owns 408,921 preferred shares representing 8.8% of the class
- Sole voting and dispositive power reported for all shares, providing clear ownership and control over how these shares are voted and disposed
Negative
- None.
Insights
TL;DR: Eagle Point holds a material minority stake (8.8%) in OFS Credit preferred stock with sole voting and dispositive power.
The disclosure is a routine Schedule 13G amendment reporting beneficial ownership of 408,921 preferred shares, equal to 8.8% of the class. For investors, an institutional holder with sole voting and dispositive power at this magnitude signals concentrated ownership but not control. There is no indication in the filing of intent to influence corporate control, which keeps the filing in the informational category rather than an activist signal.
TL;DR: Ownership concentration is notable but the filer certifies no intent to influence control, so governance risk appears limited.
The filing documents sole voting authority for all reported shares, which means the holder can unilaterally vote these preferred shares though they remain a minority position at 8.8%. The certification that the securities were not acquired to change control reduces immediate governance concern. Absence of shared voting arrangements or a group designation indicates this position is held individually by Eagle Point Credit Management LLC.