OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit”, the “Company”, “we”, “us” or “our”), an investment company that invests primarily in secured loan bonds ( “CLO”) equities and debt securities, today announced the following estimate of the net asset value (“NAV”) as at October 31, 2021.
Management’s unaudited estimate of the range of our net asset value per share of our common shares as of October 31, 2021 is between $ 13.95 and $ 14.05. This estimate is not a complete statement of our financial position or results for the month ended October 31, 2021. This estimate has not been subject to the Company’s customary quarter-end financial close procedures and has not has not been approved by the Board of Directors of the Company. We inform you that our NAV per share at October 31, 2021, which will be published in our annual report on form N-CSR, may differ significantly from this estimate.
We believe that the COVID-19 pandemic presents significant uncertainty and risks regarding the underlying value of the Company’s investments, financial condition, results of operations and cash flow. To the extent that the Company’s portfolio investments are negatively affected by the effects of the COVID-19 pandemic, the Company may experience a material adverse impact on its future net investment income, the fair value of its portfolio investments, its financial position and the financial position of its portfolio investments.
The preliminary financial data included in this press release has been prepared and is the responsibility of the management of OFS Credit. KPMG LLP has not audited, reviewed, compiled or applied agreed procedures relating to preliminary financial data. Therefore, KPMG LLP expresses no opinion or any other form of assurance in this regard.
About OFS Credit Company, Inc.
OFS Credit is an externally managed, non-diversified, fixed-capital investment company. The investment objective of the Company is to generate current income, with a secondary objective of generating capital appreciation primarily by investing in CLO debt securities and subordinated securities. The investment activities of the Company are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 19401, as amended, and headquartered in Chicago, Illinois, with additional offices in New York and Los Angeles.
Statements in this press release concerning management’s expectations, beliefs, intentions, objectives, strategies, plans or future prospects may constitute forward-looking statements. Forward-looking statements may be identified by words such as “anticipate”, “believe”, “could”, “could increase the probability”, “estimate”, “expect”, “intend”, “ is expected ”,“ could, “should”, “will”, “will”, “would be expected”, “look ahead”, “may 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 mentioned in documents which may be filed by OFS Credit from time to time with the Securities and Exchange Commission, as well as the impact of the global COVID-19 pandemic and related changes in base interest rates, inflation rates and significant market volatility on our business, portfolio companies, industry and Mondial economy. As a result of these risks, uncertainties and factors, actual results may differ materially from future results, performance or achievements discussed or suggested by forward-looking statements contained in this document. OFS Credit provides the information contained in this press release as of that date and assumes no obligation to update the information included in this press release or to revise 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