Form 4: Eagle Point Credit Management LLC Reports Sale of OFS Credit Company Preferred Stock

Eagle Point Credit Management LLC, along with related entities, reported the sale of a portion of its holdings in OFS Credit Company's 6.125% Series C Term Preferred Stock due 2026.

Summary

• Eagle Point Credit Management LLC, Eagle Point CIF GP I LLC, and Eagle Point DIF GP I LLC filed a Form 4 regarding transactions in OFS Credit Company, Inc. [OCCI] securities.
• On March 27, 2024, Eagle Point Credit Management LLC disposed of 63 shares of 6.125% Series C Term Preferred Stock due 2026 at a price of $24.12 per share.
• Following the transaction, the Funds managed by Eagle Point Credit Management LLC indirectly beneficially owned 42,262 shares of the 6.125% Series C Term Preferred Stock due 2026 and 36,294 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 routine regulatory filing, indicating a neutral sentiment. It reports a sale of shares, but the amount is small and the reporting party disclaims beneficial ownership.

Negatives

• Eagle Point Credit Management LLC disposed of a small portion of its holdings in OFS Credit Company's 6.125% Series C Term Preferred Stock.

Management Comments

• The reporting persons disclaim 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 standard practice for reporting changes in beneficial ownership by insiders, providing transparency to the market regarding their transactions in the company's securities.

Stakeholder Impact

• The sale of shares by Eagle Point Credit Management LLC may have a minor impact on shareholders, but the disclosed disclaimer of beneficial ownership suggests limited direct influence.

Key Dates