OFS Credit Company, Inc. (NasdaqCM:OCCI) will look for investments. OFS reported that it plans to offer shares of its Series C Term Preferred Stock in an underwritten public offering. OFS intends to use the net proceeds of the offering to acquire investments in accordance with its investment objectives and strategies and for general working capital purposes.
OFS Credit Company, Inc. is a non-diversified, closed-end management investment company. The Company's primary investment objective is to generate current income, with a secondary objective to generate capital appreciation. The Company seeks to invest approximately 80% of its assets, or net assets plus borrowings, in floating rate credit-based instruments and other structured credit investments, including collateralized loan obligation (CLO) debt and subordinated i.e., residual or equity securities traditional corporate credit investments, including leveraged loans and high yield bonds; opportunistic credit investments, including stressed and distressed credit situations and long/short credit investments, and other credit-related instruments. The CLOs in which it invests are collateralized by portfolios consisting primarily of below investment grade United States senior secured loans. Investment adviser of the Company is OFS Capital Management, LLC.