CHICAGO–(BUSINESS WIRE)–OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit”, the “Company”, “we”, “us” or “our”), an investment company that invests primarily in bonds of Collateralized Loan (“CLO”), Equity and Debt Securities, today announced the following estimate of Net Asset Value (“NAV”) as of August 31, 2020.
Management’s unaudited estimate of the range of our net asset value per share of our common stock as of August 31, 2020 is between $10.70 and $10.80. This estimate is not a complete statement of our financial position or results for the month ended August 31, 2020. This estimate has not been subject to the Company’s typical quarter-end financial closing procedures and does not has not been approved by the Company’s Board of Directors. We advise you that our net asset value per share for the quarter ended October 31, 2020, which will be reported on our Form N-CSR, may differ materially from this estimate.
We believe that the COVID-19 pandemic presents significant uncertainty and risks to the underlying value of the Company’s investments, financial condition, results of operations and cash flows. In addition, the operational and financial performance of the Company has been, and may continue to be, significantly affected by the COVID-19 pandemic, which in turn has, and may continue to have, an impact on the valuation of investments of the society. Accordingly, the fair value of the Company’s portfolio investments could be materially affected after August 31, 2020 by circumstances and events that are not yet known. To the extent that the Company’s portfolio investments are further impacted by the effects of the COVID-19 pandemic, the Company could experience a material adverse effect on its future net investment income, the fair value of its portfolio investments , its financial situation and its financial situation. the state of its portfolio investments.
The preliminary financial data included in this press release has been prepared by and is the responsibility of the management of OFS Credit. KPMG LLP has not audited, reviewed, compiled or applied agreed procedures with respect to preliminary financial data. Accordingly, KPMG LLP expresses no opinion or other form of assurance in this regard.
About OFS Credit Company, Inc.
OFS Credit is an externally managed, non-diversified, closed-end investment company. The investment objective of the Company is to generate current income, with a secondary objective of generating capital appreciation primarily through investment in CLO debt and subordinated securities. The Company’s investment activities are managed by OFS Capital Management, LLC, a registered investment adviser under the Investment Advisers Act of 1940.1as amended, and headquartered in Chicago, Illinois, with additional offices in New York and Los Angeles.
Statements in this press release regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects may constitute forward-looking statements. Forward-looking statements may be identified by words such as “anticipate”, “believe”, “could”, “could increase the likelihood”, “estimate”, “expect”, “intend”, ” is expected”, “may”, “should”, “should”, “will”, “would be expected”, “looks forward to”, “could provide”, “would” or similar terms, variations of these terms or the negative of these terms. These forward-looking statements involve known and unknown risks, uncertainties and other factors, including the risks, uncertainties and factors discussed in documents which may be filed by OFS Credit from time to time with the Securities and Exchange Commission, as well as as the impact of the global COVID-19 pandemic and significant market volatility on our business, our portfolio companies, our industry and the global economy. Due to these risks, uncertainties and factors, actual results may differ materially from any future results, performance or achievements discussed or implied by the forward-looking statements contained herein. OFS Credit is providing the information in this press release as of this date and assumes no obligation to update the information in this press release or to revise any forward-looking statements, whether as a result of new information, future events or otherwise.
1 Registration does not imply a certain level of skill or training