Increased ATM Capacity:: OFS Credit has expanded its ATM offering to $200 million, allowing for the sale of shares over time.
Prior Share Sales:: As of May 14, 2026, the company had sold 18,663,757 shares at a weighted average price of $8.30, generating approximately $153.1 million in net proceeds.
Preliminary Financial Estimates:: For the quarter ended April 30, 2026, management estimates NAV per share between $3.67 and $3.77 and net investment income per share between $0.13 and $0.17.
Monthly Cash Distributions:: The board declared monthly cash distributions of $0.05 per share for May, June, and July 2026.
Term Preferred Stock:: As of April 30, 2026, OFS Credit had $89.9 million of term preferred stock outstanding.
OFS Credit Company Inc. (OCCI) has updated its equity distribution agreement to increase its at-the-market (ATM) offering to $200 million. This allows the company to issue and sell shares of its common stock over time, providing flexibility in raising capital. The prospectus supplement, filed pursuant to Rule 424(b)(3), details the amended agreement with Lucid Capital Markets LLC and Ladenburg Thalmann & Co. Inc.
From January 24, 2020, to May 14, 2026, OFS Credit sold 18,663,757 shares at a weighted average price of $8.30, resulting in net proceeds of approximately $153.1 million. The company's investment adviser may, at its discretion, supplement commission payments to ensure the sales price per share is not less than the current net asset value per share.
Management's preliminary estimates for the quarter ending April 30, 2026, include an NAV per share range of $3.67 to $3.77 and net investment income per share between $0.13 and $0.17. As of the same date, the company had $89.9 million of term preferred stock outstanding.
The board has declared monthly cash distributions of $0.05 per share for May, June, and July 2026, payable to stockholders of record on specific dates each month.
What is the size of OFS Credit's (OCCI) updated at-the-market offering?
The at-the-market offering capacity is $200,000,000, inclusive of shares previously sold under the Equity Distribution Agreement.
How many shares has OFS Credit sold under its ATM program to date?
From January 24, 2020, to May 14, 2026, OFS Credit sold 18,663,757 shares at a weighted average price of $8.30, netting about $153.1 million after commissions and fees.
What preliminary NAV and net investment income did OFS Credit report for April 30, 2026?
Management estimated NAV per share between $3.67 and $3.77 and net investment income per share for the quarter between $0.13 and $0.17. These figures are unaudited and subject to quarter-end adjustments and review.
Did OFS Credit declare dividends for common shareholders in the filing?
Yes, the board declared monthly cash distributions of $0.05 per share for May, June, and July 2026, with specific record and payment dates shown for each month.
What outstanding preferred obligations does OFS Credit report as of April 30, 2026?
The filing discloses $89.9 million of term preferred stock outstanding as of April 30, 2026.
OFS Credit has increased its ATM offering capacity to $200 million, providing financial flexibility.
The company has already sold a significant number of shares under the ATM program, generating substantial net proceeds.
Preliminary financial estimates for Q2 2026 show a positive outlook, with NAV per share between $3.67 and $3.77.
Monthly cash distributions of $0.05 per share have been declared for May, June, and July 2026.
Investors should monitor the company's filings and announcements for further updates on its financial performance.
Do you think this ATM offering will benefit OFS Credit in the long term? Share your thoughts in the comments below!
Share this article with others who need to stay ahead of this trend!
⚠ Disclaimer: Yanuki provides article summaries and links for reference only. Yanuki does not endorse, verify, or guarantee the accuracy of third-party sources. Please review original sources and verify information independently. Managed by the Yanuki Data Engine. Full Disclaimer