OFS Credit to price $25-par series C term preferred stock

By Marisa Wong

Los Angeles, April 21 – OFS Credit Co., Inc. plans to issue shares of its $25-par series C term preferred stock in an underwritten public offering, according to a news release and a 424B5 filing with the Securities and Exchange Commission.

Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc., National Securities Corp. and Incapital LLC are acting as underwriters for the offering, which has a 30-day over-allotment option.

The company has applied to list the preferred stock on the Nasdaq Capital Market under the trading symbol “OCCIO.”

The company said it intends to use proceeds to acquire investments according to its investment objectives and strategies and for general working capital purposes.

The company said it may also use proceeds to redeem all or a portion of its outstanding 6.875% series A term preferred stock due 2024 and 6.6% series B term preferred stock due 2023.

OFS Credit is a non-diversified, externally managed closed-end management investment company based in Chicago.

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