Eagle Point Income Co. Upsizes Credit Facility to $150M
Ticker: EICC · Form: 8-K · Filed: Jun 12, 2024 · CIK: 1754836
| Field | Detail |
|---|---|
| Company | Eagle Point Income Co Inc. (EICC) |
| Form Type | 8-K |
| Filed Date | Jun 12, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $15.34 |
| Sentiment | neutral |
Sentiment: neutral
Topics: credit-facility, financing
TL;DR
Eagle Point Income Co. just boosted its credit line from $100M to $150M. More cash flexibility!
AI Summary
Eagle Point Income Company Inc. announced on June 11, 2024, that it has entered into an amendment to its revolving credit facility. The amendment increases the borrowing capacity under the facility from $100 million to $150 million. This move is intended to provide additional financial flexibility for the company.
Why It Matters
This expansion of the credit facility provides Eagle Point Income Company Inc. with greater financial resources, potentially enabling it to pursue new investment opportunities or manage existing obligations more effectively.
Risk Assessment
Risk Level: low — The filing reports on a routine credit facility amendment, which is a common financial maneuver and does not inherently indicate significant new risks.
Key Numbers
- $150M — Upsized Credit Facility (Increased borrowing capacity from $100M)
- $100M — Previous Credit Facility (Original borrowing capacity before amendment)
Key Players & Entities
- Eagle Point Income Company Inc. (company) — Registrant
- June 11, 2024 (date) — Date of earliest event reported
- $100 million (dollar_amount) — Previous borrowing capacity
- $150 million (dollar_amount) — New borrowing capacity
FAQ
What is the primary purpose of the amendment to the revolving credit facility?
The amendment increases the borrowing capacity under the revolving credit facility from $100 million to $150 million, providing additional financial flexibility.
What was the previous borrowing capacity of the credit facility?
The previous borrowing capacity was $100 million.
What is the new total borrowing capacity after the amendment?
The new total borrowing capacity is $150 million.
On what date was this event reported?
The date of the earliest event reported is June 11, 2024.
What type of filing is this report?
This is a Form 8-K, a current report filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 429 words · 2 min read · ~1 pages · Grade level 9.2 · Accepted 2024-06-11 18:56:57
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share EIC New York Stock Exchan
- $15.34 — on stock as of May 31, 2024 was between $15.34 and $ 15.44. SIGNATURE Pursuant to
Filing Documents
- tm2417019d1_8k.htm (8-K) — 34KB
- 0001104659-24-070513.txt ( ) — 259KB
- eic-20240611.xsd (EX-101.SCH) — 4KB
- eic-20240611_def.xml (EX-101.DEF) — 27KB
- eic-20240611_lab.xml (EX-101.LAB) — 37KB
- eic-20240611_pre.xml (EX-101.PRE) — 26KB
- tm2417019d1_8k_htm.xml (XML) — 8KB
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 $15.34 and $ 15.44. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, Eagle Point Income Company Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Eagle Point Income Company Inc. Date: June 11, 2024 By: /s/ Kenneth P. Onorio Kenneth P. Onorio Chief Financial Officer and Chief Operating Officer