OFS Credit Company, Inc. Announces Results of Rights Offering

Aug 28, 2019

CHICAGO--(BUSINESS WIRE)--Aug. 28, 2019-- OFS Credit Company, Inc. (the “Company”) announced today the results of its non-transferable rights offering, which expired on August 27, 2019 (the “Offering”). The Offering is expected to result in the issuance of 556,033 additional shares of the Company’s common stock. The foregoing results are based upon the subscriptions for shares received, and remain subject to receipt of final payment for such shares in accordance with the terms and conditions of the Offering.

Affiliates of OFS Capital Management, LLC, investment adviser to the Company, owned approximately 13.1% of the Company’s common stock prior to the Offering and fully exercised all rights issued to them in connection with the Offering.

Estimated net proceeds after payment of dealer manager fees are expected to be approximately $8.9 million, before expenses. The Company plans to use the net proceeds from this Offering to acquire investments in accordance with its investment objectives and strategies and for general working capital purposes. The subscription price for the Offering was $16.50 per share.

The Company issued to its stockholders of record as of July 31, 2019 non-transferable rights to subscribe for up to 1,254,000 shares of the Company’s common stock. Record date stockholders received one non-transferable right for each outstanding share of common stock owned on the record date. The rights, which entitled holders to purchase one new share of common stock for every two rights held, were not listed for trading on the Nasdaq Capital Market or any other stock exchange.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS), was selected by the Company to act as the dealer manager for the Offering.

Investors should consider the Company’s investment objectives, risks, charges and expenses carefully before investing, including the dilutive effect this offering will have on the Company’s net asset value per share and the dividends per share the Company will be able to distribute subsequent to completion of the Offering. This information can be found in the Company’s prospectus dated August 5, 2019 (the “Prospectus”). An investor should carefully read the Company’s Prospectus before investing.

A registration statement relating to the above-referenced securities has been filed with the Securities and Exchange Commission (“SEC”) and has been declared effective.

The Offering may be made only by means of the Prospectus, copies of which may be obtained by writing Ladenburg Thalmann & Co. Inc., 277 Park Avenue, 26th Floor, New York, New York 10172, or: 1-800-573-2541, or: prospectus@ladenburg.com; copies may also be obtained, when available, by visiting EDGAR on the SEC’s website, at www.sec.gov.

The information in this press release is not complete and may be changed.This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About OFS Credit Company, Inc.

The Company is a non-diversified, closed-end management investment company. The Company’s investment objective is to generate current income, with a secondary objective to generate capital appreciation primarily through investment in collateralized loan obligation equity and debt securities. The Company's investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 19401 and headquartered in Chicago, Illinois, with additional offices in New York and Los Angeles.

Forward-Looking Statements

Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the SEC. The Company undertakes no duty to update any forward-looking statements made herein.

1 Registration does not imply a certain level of skill or training

Source: OFS Credit Company, Inc.

D.F. King & Co., Inc.
48 Wall Street, 22nd Floor
New York, NY 10005
Toll-free: (866) 416-0553

Steve Altebrando

Bill Mendel

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