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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 7:27 AM

Slide #165. Eagle Point Credit Company Inc. Preferred Stock Offering

Company: Eagle Point Credit Company Inc. (NYSE:ECC)
Date announced: 5/13/2015
Security type: 7.75% Series A Term Preferred Stock due 2022 (NYSE:ECCA)
Shares Offered: 1,600,000
Date of Pricing: 5/14/2015
Price Per Share: $25
Preferred Stock Offering Details: Eagle Point Credit Company Inc. (NYSE:ECC) (the "Company") today announced that it plans to offer shares of its Series A Term Preferred Stock due 2022 (the "Preferred Stock") in an underwritten public offering. The terms of the Preferred Stock are to be determined by negotiations between the Company and the underwriters. In addition, the Company plans to grant the underwriters a 30-day option to purchase additional shares of the Preferred Stock to cover overallotments, if any. - updated 5/14 - Eagle Point Credit Company Inc. (NYSE:ECC) (the "Company") today announced that it has priced an underwritten, public offering of 1,600,000 shares of its 7.75% Series A Term Preferred Stock due 2022 (the "Preferred Stock") at a public offering price of $25 per share, resulting in gross proceeds of $40.0 million and approximately $38.1 million in net proceeds to the Company, after payment of underwriting discounts and commissions and estimated offering expenses. In addition, the Company has granted the underwriters a 30-day option to purchase up to 240,000 additional shares of the Preferred Stock to cover overallotments, if any. The offering is expected to close on May 18, 2015, subject to customary closing conditions. The Company has applied to list the Preferred Stock on the New York Stock Exchange under the ticker symbol "ECCA."

Eagle Point Credit Company is a non-diversified, externally managed closed-end management investment company. Co.'s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. Co. will seek to achieve its investment objectives by investing primarily in equity and junior debt tranches of CLOs that are collateralized by a diverse portfolio consisting primarily of below investment grade U.S. senior secured loans. As of Dec 31 2016, total assets were $448,376,026 and total investments were $410,738,291.
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Name: Eagle Point Credit Company Inc
Website: eaglepointcreditcompany.com
Sector: Investment Companies & Venture Capital

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