Eagle Point entities sell OFS Credit Company shares worth $158,917 By Investing.com

In recent trading activity, Eagle Point Credit Management LLC, along with related entities Eagle Point CIF GP I LLC and Eagle Point DIF GP I LLC, have sold a combined total of shares in OFS Credit Company, Inc. (NASDAQ:) valued at approximately $158,917. The transactions occurred over a series of days, with prices for the shares ranging between $23.29 and $24.16.

The sales were executed in multiple transactions, with the 5.25% Series E Term Preferred Stock due 2026 being sold at a weighted average price per share. Specifically, 707 shares were sold at an average price of $23.29 on May 13, and another 801 shares were sold at the same average price on May 14. Furthermore, 5124 shares of the 6.125% Series C Term Preferred Stock due 2026 were sold at an average price of $24.16 on May 15.

Footnotes in the report indicate that the shares are directly held by private investment funds managed by Eagle Point Credit Management LLC. The two other reporting entities, Eagle Point CIF GP I LLC and Eagle Point DIF GP I LLC, serve as general partners to certain funds that hold the securities. All entities have disclaimed beneficial ownership of the securities reported, as per the footnotes, which state that the inclusion of these securities in this report should not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.

Eagle Point Credit Management LLC and the other reporting entities could be considered to have an “indirect pecuniary interest” in the securities sold, as outlined in the footnotes. The report also offers to provide full information regarding the number of shares sold at each separate price within the stated ranges upon request by the Securities and Exchange Commission, the issuer, or any security holder of the issuer.

The sales were signed off by Kenneth P. Onorio, Chief Financial Officer of the respective Eagle Point entities, on May 15, 2024.

InvestingPro Insights

As OFS Credit Company, Inc. (NASDAQ:OCCI) experiences significant trading activity, insights from InvestingPro provide a deeper understanding of the company’s financial status. With a market capitalization of $121.53 million and a P/E ratio of 16.64, OCCI stands out in its market segment. The company has also reported a robust revenue growth of 15.8% over the last twelve months as of Q1 2024, signaling a positive uptrend in its financial performance.

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