CORRECTION: Eagle Point Credit Company Announces Underwritten Public Offering Of Series F Preferred Stock; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Eagle Point Credit Company has announced an underwritten public offering of Series F Preferred Stock, although the specific terms of the offering have not been disclosed.
January 11, 2024 | 1:58 pm
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Eagle Point Credit Company's announcement of an underwritten public offering of Series F Preferred Stock could dilute existing shareholders but may also raise capital for growth or debt reduction.
The impact of the public offering on ECC's stock price in the short term is uncertain without the terms of the offering. It could be neutral or slightly negative due to potential dilution concerns. However, the capital raised could be used for beneficial purposes such as growth or debt reduction, which might be viewed positively by investors.
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