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.
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 corporate purposes.
Deutsche Bank Securities Inc. and Keefe, Bruyette & Woods, Inc. are
acting as joint book-running managers for the offering. Wunderlich
Securities, Inc., Mitsubishi UFJ Securities (USA), Inc., Compass Point
Research & Trading, LLC and Incapital LLC are acting as lead managers
for the offering.
Investors should consider the Company’s investment objectives, risks,
charges and expenses carefully before investing. The preliminary
prospectus, which contains this and other information about the Company,
should be read carefully before investing. The information in the
preliminary prospectus and in this press release is not complete and may
be changed. The Company may not sell these securities until the
registration statement filed with the Securities and Exchange Commission
(the “SEC”) relating to the securities described herein is effective.
This press release is not an offer to sell these securities and is not
soliciting an offer to buy these securities in any state where the offer
or sale is not permitted.
Copies of the preliminary prospectus (and the final prospectus, when
available) 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 SEC’s website at www.sec.gov.
ABOUT EAGLE POINT CREDIT COMPANY
The Company is a 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.
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
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