Eagle Point Credit Co. Inc. Announces Special Meeting for Stockholder Vote

TL;DR

<b>Eagle Point Credit Company Inc. is convening a Special Meeting on February 13, 2024, to seek stockholder approval for an increase in authorized common stock shares.</b>

AI Summary

Eagle Point Credit Co Inc. (ECCW) filed a Proxy Statement (DEF 14A) with the SEC on January 8, 2024. Eagle Point Credit Company Inc. is holding a Special Meeting of Stockholders on February 13, 2024, at 8:00 a.m. ET in Greenwich, CT. The primary purpose of the meeting is to vote on a proposal to increase the number of authorized shares of the Company's common stock. Stockholders of common and preferred stock will vote together as a single class, and common stockholders will also vote separately. Proxy materials, including the Proxy Statement and the Annual Report for the fiscal year ended December 31, 2022, are available online. The company will provide additional copies of its most recent annual and semi-annual reports upon request, free of charge.

Why It Matters

For investors and stakeholders tracking Eagle Point Credit Co Inc., this filing contains several important signals. The proposed increase in authorized shares is crucial for the company's future flexibility in capital raising and strategic initiatives. Shareholder participation is vital, as the vote requires representation from both common and preferred stockholders, voting as a single class, and a separate vote for common stockholders.

Risk Assessment

Risk Level: — Eagle Point Credit Co Inc. shows moderate risk based on this filing. The filing is a routine proxy statement for a shareholder meeting, with no immediate financial or operational risks disclosed.

Analyst Insight

Stockholders should review the proxy materials and vote on the proposed increase in authorized shares to ensure their interests are represented.

Key Numbers

• February 13, 2024 — Meeting Date (Special Meeting of Stockholders date.)
• 8:00 a.m. ET — Meeting Time (Time of the Special Meeting of Stockholders.)
• 20240108 — Filing Date (Date the DEF 14A was filed.)

Key Players & Entities

• Eagle Point Credit Company Inc. (company) — Registrant and filer of the proxy statement.
• February 13, 2024 (date) — Date of the Special Meeting of Stockholders.
• Thomas P. Majewski (person) — Chief Executive Officer of Eagle Point Credit Company Inc.
• Greenwich, CT (location) — Location of the Special Meeting and company's business address.
• 20240108 (date) — Filing date of the DEF 14A.

FAQ

Industry Context

Eagle Point Credit Company Inc. is a non-diversified closed-end management investment company. This filing pertains to corporate governance and shareholder voting.

Regulatory Implications

The filing is made under Schedule 14A of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

What Investors Should Do

1. Review the proxy statement and accompanying materials for the Special Meeting.
2. Vote on the proposal to increase the number of authorized shares of common stock.
3. Ensure proxy card is completed, dated, signed, and returned promptly if unable to attend the meeting.

Key Dates

• 2024-02-13: Special Meeting of Stockholders — Vote on increasing authorized common stock shares.
• 2024-01-08: Filing Date — DEF 14A filing date.

Year-Over-Year Comparison

This is a DEF 14A filing for a special meeting, distinct from regular periodic filings like 10-K or 10-Q.

Key Financial Figures

• $0.001 — f the Company's common stock, par value $0.001 per share (the "Common Stock"), were is
• $15,000 — timated that it would pay approximately $15,000 for such services. If the Company engag
• $1,000,000,000 — rities with an aggregate value of up to $1,000,000,000. The Company is currently engaged in an
• $225,000,000 — tly engaged in an ATM offering of up to $225,000,000 of shares of Common Stock pursuant to t
• $8.3 billion — in of its affiliates, had approximately $8.3 billion of assets under management for investme

Filing Documents

• tm242378d1_def14a.htm (DEF 14A) — 117KB
• tm242378d1_def14aimg001.jpg (GRAPHIC) — 128KB
• tm242378d1_def14aimg002.jpg (GRAPHIC) — 78KB
• tm242378d1_def14aimg003.jpg (GRAPHIC) — 129KB
• tm242378d1_def14aimg004.jpg (GRAPHIC) — 76KB
• tm242378d1_def14aimg005.jpg (GRAPHIC) — 128KB
• tm242378d1_def14aimg006.jpg (GRAPHIC) — 78KB
• 0001104659-24-002314.txt (&nbsp;) — 962KB

Security Ownership of Certain Beneficial

Security Ownership of Certain Beneficial The following table sets forth, as of the Record Date, certain information regarding the beneficial ownership of Common Stock and Preferred Stock by each current Director (including the nominees), the Company's officers and each person known to us to beneficially own 5% or more of the outstanding shares of Common Stock or Preferred Stock, as applicable. Common Stock Beneficially Owned (2) Preferred Stock Beneficially Owned (2) Name and Address (1) Number % (3) Number % (3) 5% Owners Trident ECC Aggregator LP (4) 5,822,728 7.6 % &mdash; &mdash; Karpus Investment Management (5) &mdash; &mdash; 210,676 6.3 % Interested Directors Thomas P. Majewski 62,000 * &mdash; * James R. Matthews &mdash; &mdash; &mdash; &mdash; Independent Directors Scott W. Appleby 20,158 * &mdash; &mdash; Kevin F. McDonald 14,321 * &mdash; * Paul E. Tramontano 30,187 * &mdash; * Jeffrey L. Weiss 12,500 * &mdash; * Officers Kenneth P. Onorio 41,527 * &mdash; &mdash; Nauman S. Malik 1,500 * &mdash; &mdash; Courtney B. Fandrick 70 * &mdash; &mdash; All Directors and officers as a group (9 persons) 182,263 * &mdash; * * Represents less than 1.0% (1) The address for each officer and Director is c/o Eagle Point Credit Company Inc., 600 Steamboat Road, Suite 202, Greenwich, CT 06830. (2) Beneficial ownership is determined in accordance with the rules of the SEC and includes voting or investment power with respect to the securities. Ownership information for those persons who beneficially own 5% or more of our shares of Common Stock or Preferred Stock is based upon filings by such persons with the SEC and other information obtained from such persons, if available. (3) Based on 76,948,138 shares of Common Stock and 3,328,948 shares of Preferred Stock issued and outstanding as of the Record Date. (4) Trident ECC Aggregator LP is the sole re

View Full Filing

View this DEF 14A filing on SEC EDGAR