Eagle Point Credit Company Inc. (NYSE:ECC) (the “Company”) today
announced the closing of its previously announced initial public
offering of 5,155,301 shares of common stock at a public offering price
of $20.00 per share, for gross proceeds to the Company of approximately
$103.1 million. In addition, the Company has granted the underwriters a
45-day option to purchase up to an additional 773,295 shares of common
stock to cover overallotments, if any.
The Company is a newly organized, non-diversified, closed-end management
investment company. The Company’s investment objective is 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.
Deutsche Bank Securities Inc. and Keefe, Bruyette & Woods, Inc. served
as the joint book-running managers for the offering. Wunderlich
Securities, Inc., JMP Securities LLC, National Securities Corporation,
Mitsubishi UFJ Securities (USA), Inc., Sterne, Agee & Leach, Inc. and
Compass Point Research & Trading, LLC acted as lead managers.
GreensLedge Capital Markets LLC and Guggenheim Securities, LLC acted as
co-managers.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy nor will there be any sale of the shares
of common stock referred to in this press release in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
such state or jurisdiction.
Investors should consider the Company’s investment objectives, risks,
charges and expenses carefully before investing. The prospectus, which
contains this and other information about the Company, should be read
carefully before investing. Copies of the final prospectus may be
obtained by writing Deutsche Bank Securities Inc., Attn: Prospectus
Group, 60 Wall Street, New York, NY 10005-2836, by calling toll-free
1-800-503-4611 or by sending an e-mail to: prospectus.CPDG@db.com
or by writing Keefe, Bruyette & Woods, Inc., Attn: Equity Capital
Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019 or by calling
toll-free 1-800-966-1559. Copies may also be obtained by visiting EDGAR
on the U.S. Securities and Exchange Commission website at www.sec.gov.
A registration statement relating to the Company’s common stock has been
filed with, and declared effective by, the U.S. Securities and Exchange
Commission.
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
Copyright Business Wire 2014