OFS Credit Company (OCCI) has priced the previously announced term preferred stock.
Note that the ‘official’ SEC FWP (free writing prospectus) has not been posted on the SEC website, but we have company press releases with some details.
The issue priced at 6.125%. 800,000 shares have been sold with another 120,000 available for over allotment.
The company press release is here.
No further details are available as of 8 pm (central) Wednesday evening, but I will post them as soon as they are known.
5 thoughts on “OFS Credit Company Prices Term Preferred”
Five year maturity is King. This issuer has no history of profits with a market cap of $ 70M that is issuing up to $25 M of pfd.
They also just raised $14M through a common share offering in March. Its a very opaque company with lots of debt holdings issued in the Cayman Islands. Someone’s dirty laundry is getting washed.
Wow, they must have looked at how strong XFLT-A has traded and priced based on that.
5 year term I’m hearing.
Yep–that is correct.