By Wendy Van Sickle
Columbus, Ohio, April 21 – OFS Capital Corp. priced a $20 million offering of 6.125% series C term preferred shares at par of $25.00 apiece, according to a press release.
There is a $3 million greenshoe.
Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc., National Securities Corp. and Incapital LLC are the bookrunners.
Starting April 30, 2023, the shares can be redeemed at the option of the issuer at par plus any unpaid dividends.
OFS plans to use the proceeds to fund investments in debt and equity securities in accordance with its investment objective and for other general corporate purposes. Proceeds may be used to redeem all or a portion of the company’s outstanding 6.875% series A term preferred stock due 2024 and 6.6% series B term preferred stock due 2023.
The company plans to list the shares on the Nasdaq under the symbol “OCCIO.”
OFS is a Chicago-based non-diversified management investment company.
| Issuer: | OFS Capital Corp.
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| Description: | Series C term preferred shares
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| Amount: | $20 million, 800,000 shares
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| Greenshoe: | $3 million, 120,000 shares
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| Maturity: | Sept. 20, 2023
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| Bookrunners: | Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc., National Securities Corp. and Incapital LLC
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| Dividend: | 6.125%
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| Price: | Par of $25.00
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| Yield: | 6.125%
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| Call option: | Starting April 30, 2023, at par plus unpaid dividends
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| Pricing date: | April 21
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| Settlement date: | April 28
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| Distribution: | SEC registered
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| Listing: | Nasdaq: OCCIO
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