Form 4: Eagle Point Credit Management LLC Reduces Stake in OFS Credit Company, Inc.

Eagle Point Credit Management LLC, along with Eagle Point DIF GP I LLC, reported a series of transactions involving the sale of OFS Credit Company's 6.125% Series C Term Preferred Stock due 2026, while maintaining indirect beneficial ownership of preferred stock.

Summary

• Eagle Point Credit Management LLC, along with Eagle Point DIF GP I LLC, filed a Form 4 detailing changes in beneficial ownership of OFS Credit Company, Inc. securities.
• The transactions involved the sale of 6.125% Series C Term Preferred Stock due 2026 on August 19, 2024, August 20, 2024 and August 21, 2024.
• On August 19, 2024, 1,742 shares were sold at $24.37 per share.
• On August 20, 2024, 182 shares were sold at $24.40 per share.
• On August 21, 2024, 68 shares were sold at $24.40 per share.
• Following these transactions, Eagle Point Credit Management LLC indirectly beneficially owns 15,185 shares of the 6.125% Series C Term Preferred Stock due 2026 and 32,482 shares of the 5.25% Series E Term Preferred Stock due 2026.
• The reporting persons disclaim beneficial ownership of the reported securities.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing transactions by a major shareholder. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Negatives

• Eagle Point Credit Management LLC reduced its holdings in OFS Credit Company's 6.125% Series C Term Preferred Stock due 2026.

Management Comments

• Each of the Reporting Persons hereby disclaims beneficial ownership of the securities described in this report pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934 and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of any of the reported securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders and major shareholders.

Stakeholder Impact

• The reduction in holdings by Eagle Point Credit Management LLC could be perceived negatively by some shareholders, potentially leading to a slight decrease in investor confidence.

Key Dates