Eagle Point Credit Co. Announces Preferred Stock Offering

TL;DR

Eagle Point Credit Co. is selling more preferred stock and notes.

AI Summary

Eagle Point Credit Company Inc. announced on June 11, 2024, that it has entered into an underwriting agreement for the sale of its 6.50% Series C Term Preferred Stock due 2031. The company also disclosed information regarding its 6.75% Series D Preferred Stock, 8.00% Series F Term Preferred Stock due 2029, 6.6875% Notes due 2028, 6.75% Notes due 2031, and 5.375% Notes due 2029.

Why It Matters

This filing indicates Eagle Point Credit Company Inc. is raising capital through a new preferred stock offering, which could impact its financial structure and future investment capacity.

Risk Assessment

Risk Level: medium — The filing details a new preferred stock offering and various debt instruments, suggesting potential changes in the company's capital structure and leverage.

Key Numbers

• 6.50% — Series C Preferred Stock Rate (Interest rate on the newly offered preferred stock.)
• 2031 — Series C Preferred Stock Maturity (Maturity year for the Series C preferred stock.)
• 2028 — Notes Maturity (Maturity year for the 6.6875% Notes.)
• 2029 — Notes Maturity (Maturity year for the 5.375% Notes.)

Key Players & Entities

• Eagle Point Credit Company Inc. (company) — Registrant
• June 11, 2024 (date) — Report Date
• 6.50% Series C Term Preferred Stock due 2031 (security) — Offering
• 6.75% Series D Preferred Stock (security) — Disclosure
• 8.00% Series F Term Preferred Stock due 2029 (security) — Disclosure
• 6.6875% Notes due 2028 (security) — Disclosure
• 6.75% Notes due 2031 (security) — Disclosure
• 5.375% Notes due 2029 (security) — Disclosure

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share ECC New York Stock Exchan
• $9.00 — on stock as of May 31, 2024 was between $9.00 and $9.10. SIGNATURE Pursuant to the
• $9.10 — s of May 31, 2024 was between $9.00 and $9.10. SIGNATURE Pursuant to the requireme

Filing Documents

• tm2417016d1_8k.htm (8-K) — 38KB
• 0001104659-24-070483.txt ( ) — 281KB
• ecc-20240611.xsd (EX-101.SCH) — 5KB
• ecc-20240611_def.xml (EX-101.DEF) — 28KB
• ecc-20240611_lab.xml (EX-101.LAB) — 39KB
• ecc-20240611_pre.xml (EX-101.PRE) — 27KB
• tm2417016d1_8k_htm.xml (XML) — 11KB

01

Item 8.01. Other Events. Management's unaudited estimate of the range of the net asset value per share of our common stock as of May 31, 2024 was between $9.00 and $9.10. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, Eagle Point Credit Company Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Eagle Point Credit Company Inc. Date: June 11, 2024 By: /s/ Kenneth P. Onorio Kenneth P. Onorio Chief Financial Officer and Chief Operating Officer

View Full Filing

View this 8-K filing on SEC EDGAR