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OFS Credit Company, 6.875% Series A Term Preferred Stock Due 3/31/2024
Ticker Symbol: OCCIP* CUSIP: 67111Q206 Exchange: NCM
* NOTE: This security is no longer trading as of 12/10/2021
Security has been Called for: Friday, December 10, 2021
QUANTUMONLINE.COM SECURITY DESCRIPTION: OFS Credit Company, Inc., 6.875% Series A Term Preferred Stock liquidation preference $25 per share, redeemable at the issuer's option on or after 3/31/2021 at $25 per share plus accrued and unpaid dividends and with a stated maturity of 3/31/2024. Cumulative distributions of 6.875% per annum ($1.71875 per annum or $0.4296875 per quarter) will be paid monthly on to holders of record on the record date fixed by the board, not more than 20 days or less than 7 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). If the Company fails to maintain asset coverage of at least 200% as of the close of business on the last business day of any calendar quarter and such failure is not cured by the close of business on the date that is 30 days following the filing date of our Asset Coverage Cure Date, then the Company will be required to redeem, within 90 days of the Asset Coverage Cure Date, shares of preferred stock, including Series A Term Preferred Stock, at least equal to the lesser of (1) the minimum number of shares of preferred stock that will result in us having asset coverage of at least 200% and (2) the maximum number of shares of preferred stock that can be redeemed out of funds legally available for such redemption. (see prospectus for further information) Dividends paid by preferreds issued by closed-end funds can be 0% to 100% eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and can also be 0% to 100% eligible for the dividends received deduction for corporate holders (see page 18 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (OCCI)
IPO - 3/20/2019 - 800,000 Shares @ $25.00 /share.
Link to IPO Prospectus
Market Value $20.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 10 S. Wacker Drive, Suite 2500, Chicago, IL 60606 |
Main Phone Number |
847-734-2000 |
Fax Number |
Not Available |
Investor Relations
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646-652-8473
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CEO - Bilal Rashid |
CFO - Jeffrey A. Cerny |
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