Eagle Point Credit Company Inc. Prices Offering of Common Stock
December 08 2016 - 10:28AM
Business Wire
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC,
NYSE:ECCA, NYSE:ECCB, NYSE:ECCZ) today announced that it has priced
an underwritten public offering of 1,000,000 shares of its common
stock at a public offering price of $17.35 per share, which will
result in net proceeds to the Company of approximately $16.6
million after payment of underwriting discounts and commissions and
estimated offering expenses payable by the Company. The Company’s
investment adviser will contribute $170,000 to defray underwriting
discounts and commissions. In addition, the Company has granted the
underwriters a 30-day option to purchase up to an additional
150,000 shares of common stock to cover overallotments, if any.
The Company plans to use the net proceeds from the offering of
its common stock to acquire investments in accordance with its
investment objectives and strategies and for general working
capital purposes.
The offering is expected to close on December 13, 2016, subject
to customary closing conditions.
Keefe, Bruyette & Woods, A Stifel Company is acting as sole
book-running manager for the offering. Ladenburg Thalmann & Co.
Inc. and Wunderlich Securities, Inc. are acting as co-lead managers
for the offering. FBR Capital Markets & Co., MUFG Securities
Americas Inc. and National Securities Corporation, a wholly owned
subsidiary of National Holdings Corporation (NASDAQ:NHLD), 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 December 7, 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/20161208005738/en/
Investor Relations:Eagle Point Credit Company Inc.Kyle McGrady,
203-340-8500ir@EaglePointCredit.comwww.eaglepointcreditcompany.com
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