Preferred Stock Offering Details: |
Eagle Point Credit Company Inc. (the "Company") (NYSE:ECC,ECCC,ECCPRD,ECCV,ECCW,ECCX) today announced that it has commenced an underwritten public offering of its Series F Term Preferred Stock (the "Preferred Stock"). The public offering price and other terms of the Preferred Stock are to be determined by negotiations between the Company and the underwriters. The Preferred Stock is rated `BBB' by Egan-Jones Ratings Company, an independent rating agency. In addition, the Company plans to grant the underwriters a 30-day option to purchase additional shares of Preferred Stock on the same terms and conditions. The Preferred Stock is expected to be listed on the New York Stock Exchange and to trade thereon within 30 days of the original issue date under the symbol "ECCF." -updated 1/12- Eagle Point Credit Company Inc. (the "Company") (NYSE:ECC,ECCC,ECCPRD,ECCV,ECCW,ECCX) today announced that it has priced an underwritten public offering of 1,400,000 shares of its 8.00% Series F Term Preferred Stock due 2029 (the "Preferred Stock") at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $33.6 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Preferred Stock is rated `BBB' by Egan-Jones Ratings Company, an independent rating agency. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 210,000 shares of Preferred Stock on the same terms and conditions. The Preferred Stock offering is expected to close on January 18, 2024, subject to customary closing conditions. The Company intends to list the Preferred Stock on the New York Stock Exchange within 30 days of the original issue date under the symbol "ECCF." |