Eagle Point Credit Discloses 485,460 Shares of OFS Credit Preferred Stock

TL;DR

**Eagle Point just bought a big chunk of OFS Credit preferred stock, signaling institutional confidence.**

AI Summary

Eagle Point Credit Management LLC, a Delaware-based investment firm, reported on January 24, 2024, that it beneficially owns 485,460 shares of Preferred Stock in OFS Credit Company, Inc. This represents a significant stake, giving Eagle Point sole voting and dispositive power over these shares. For investors, this indicates a notable institutional endorsement of OFS Credit Company's preferred stock, potentially signaling confidence in its stability and income-generating potential.

Why It Matters

This filing shows a major institutional investor, Eagle Point Credit Management, has taken a substantial position in OFS Credit Company's preferred stock, which can be seen as a vote of confidence.

Risk Assessment

Risk Level: low — This filing indicates an institutional investment, which generally reduces risk by showing professional interest and due diligence.

Analyst Insight

A smart investor would research OFS Credit Company's preferred stock, considering this significant institutional investment as a positive signal, and evaluate its dividend yield and stability.

Key Numbers

• 485,460 shares — Shares Beneficially Owned (Represents the total number of preferred shares of OFS Credit Company, Inc. held by Eagle Point Credit Management LLC, indicating a significant stake.)

Key Players & Entities

• Eagle Point Credit Management LLC (company) — reporting person, beneficial owner of shares
• OFS Credit Company, Inc. (company) — subject company, issuer of securities
• 485,460 shares (dollar_amount) — aggregate amount beneficially owned
• January 24, 2024 (date) — date of event requiring filing
• Delaware (company) — place of organization for Eagle Point Credit Management LLC

Forward-Looking Statements

• OFS Credit Company's preferred stock may see increased investor interest due to this institutional endorsement. (OFS Credit Company, Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $25 — Stock due 2026, Liquidation Preference $25 per Share) 67111Q404 (5.25% Series E

Filing Documents

• tm244094d1_sc13g.htm (SC 13G) — 88KB
• 0001104659-24-006366.txt ( ) — 89KB

(a)

Item 1(a). Name of Issuer: OFS Credit Company, Inc

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices: 10 South Wacker Drive, Suite 2500 Chicago, IL 60606

(a)

Item 2(a). Name of Person(s) Filing: Eagle Point Credit Management LLC (“EPCM”) Eagle Point CIF GP I LLC (“CIF GP”) This Schedule 13G is jointly filed by the above Reporting Persons pursuant to a Joint Filing Agreement attached hereto as Exhibit A.

(b)

Item 2(b). Address of Principal Business Office or, if none, Residence: 600 Steamboat Road, Suite 202 Greenwich, CT 06830

(c)

Item 2(c). Citizenship: EPCM: organized in the State of Delaware CIF GP: organized in the State of Delaware

(d)

Item 2(d). Title of Class of Securities: Preferred Stock (series identified below in response to Item 2(e))

(e)

Item 2(e). CUSIP Number(s): 67111Q305 (6.125% Series C Term Preferred Stock due 2026, Liquidation Preference $25 per Share) 67111Q404 (5.25% Series E Term Preferred Stock due 2026, Liquidation Preference $25 per Share) Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: Not applicable. Item 4. (a) Amount beneficially owned: See response to Item 9 on each cover page. (b) Percent of Class: See response to Item 11 on each cover page. The percentages reflected in this statement are calculated based upon 2,440,000 Preferred Shares outstanding as of November 19, 2023 as disclosed by the Issuer in Form N-CSR filed with the SEC on December 11, 2023. CUSIP Nos. 67111Q305 67111Q404 (c) Number of shares as to which the Reporting Person has: (i) Sole power to vote or to direct the vote: See response to Item 5 on each cover page. (ii) Shared power to vote or to direct the vote: See response to Item 6 on each cover page. (iii) Sole power to dispose or to direct the disposition of: See response to Item 7 on each cover page. (iv) Shared power to dispose or to direct the disposition of: See response to Item 8 on each cover page. EPCM acts as investment manager to certain accounts (collectively, the “Accounts”), which directly hold the Preferred Shares described in this report. Pursuant to an investment management agreement between EPCM and each Account, EPCM has discretionary investment authority and voting power with respect to the Preferred Shares directly held by the Accounts. As such, EPCM could be deemed to beneficially own the Preferred Shares directly held by the Accounts. Eagle Point CIF GP I LLC (“CIF GP”), as general partner to an Account, has the authority to exercise voting or dispositive power with respect to the shares held by such Account. Thus, CIF GP could be deemed to share the power to vote and dispose or dir

View Full Filing

View this SC 13G filing on SEC EDGAR