Eagle Point Credit Company Inc. Announces Offering of Preferred Stock
October 05 2016 - 10:49AM
Business Wire
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC,
NYSE:ECCA, NYSE:ECCZ) today announced that it has commenced a
public offering of 1,000,000 shares of its Series B Term Preferred
Stock (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 up to an additional 150,000 shares of Preferred Stock to
cover overallotments, if any.
The Company plans to use the net proceeds from the offering of
the Preferred Stock to acquire investments in accordance with its
investment objectives and strategies and for general working
capital purposes.
Keefe, Bruyette & Woods, A Stifel Company is acting as
Book-Running Manager for the offering. FBR Capital Markets &
Co. and Wunderlich Securities, Inc. are acting as Co-Lead Managers
for the offering. MUFG Securities Americas, Inc. and National
Securities Corporation are acting as Co-Managers for the
offering.
Investors should consider the Company’s investment
objectives, risks, charges and expenses carefully before investing.
The preliminary prospectus supplement dated October 5, 2016 and the
accompanying prospectus dated September 16, 2016, which have been
filed with the Securities and Exchange Commission (“SEC”), contain
this and other information about the Company and should be read
carefully before investing. The information in the preliminary
prospectus supplement, the accompanying prospectus and this press
release is not complete and may be changed. The preliminary
prospectus supplement, the accompanying prospectus and this press
release are not offers to sell these securities and are not
soliciting an offer to buy these securities in any state where such
offer or sale is not permitted.
A shelf registration statement relating to these securities
is on file with and has been declared effective by the SEC. The
offering may be made only by means of a prospectus and a related
prospectus supplement, copies of which may be obtained by writing
Keefe, Bruyette & Woods, Inc. at Attn: Equity Capital Markets,
787 Seventh Avenue, 4th Floor, New York, NY 10019, by calling
toll-free 1-800-966-1559 or by sending an e-mail to:
syndprospectus@stifel.com; copies may also be obtained by
visiting EDGAR on the SEC’s website at
http://www.sec.gov.
ABOUT EAGLE POINT CREDIT COMPANY
The Company is a non-diversified, closed-end management
investment company. The Company’s investment objectives are to
generate high current income and capital appreciation primarily
through investment in equity and junior debt tranches of
collateralized loan obligations. The Company is externally managed
and advised by Eagle Point Credit Management LLC. The
principals of Eagle Point Credit Management LLC are
Thomas P. Majewski, Daniel W. Ko and Daniel M.
Spinner.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance 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 in the
prospectus and the Company’s other filings with the SEC. The
Company undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Source: Eagle Point Credit Company Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20161005005973/en/
Investor Relations:Eagle Point Credit Company Inc.Kyle McGrady,
203-340-8500ir@EaglePointCredit.comwww.eaglepointcreditcompany.com
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