EAGLE POINT CREDIT CO INC. : Other Events (form 8-K)
December 01, 2021 at 04:24 pm EST
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Item 8.01. Other Events
On December 1, 2021, Eagle Point Credit Company Inc. (the "Company") notified
American Stock Transfer & Trust Company, LLC, the redemption agent (the
"Redemption Agent") for the Company's 7.75% Series B Term Preferred Stock due
2026 (the "Series B Term Preferred Stock"), of the Company's election to redeem,
in part, 1,078,383 shares of Series B Term Preferred Stock and instructed the
Redemption Agent to provide notice of such redemption to the holders of the
Series B Term Preferred Stock. The Company expects the redemption to be
completed on December 31, 2021 (the "Redemption Date"). The redemption price per
share will be $25 plus an amount equal to all unpaid dividends and distributions
on each share accumulated to, but excluding, the Redemption Date, without
interest, if any. Following the redemption, 1,078,382 shares of Series B Term
Preferred Stock will remain outstanding. This Current Report on Form 8-K does
not constitute a notice of redemption of the Series B Term Preferred Stock.
Eagle Point Credit Company Inc. is a non-diversified, closed-end management investment company. The Companyâs primary investment objective is to generate high current income with a secondary objective to generate capital appreciation. The Company seeks to achieve these objectives by investing primarily in equity and junior debt tranches of collateralized loan obligations (CLOs) and may also invest in other securities or instruments that are related investments or that are consistent with its investment objectives. The Company invests in various industries, including technology software and services; media; health care providers and services; hotels, restaurants and leisure; diversified financial services; diversified telecommunication services; commercial services & supplies; insurance; technology: hardware and equipment, and chemicals. The Company is externally managed and advised by Eagle Point Credit Management LLC.