OFS Capital Prices Public Offering Of $60 Mln Of Its 7.50% Notes Due 2028

OFS Capital

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(RTTNews) - OFS Capital Corp. (OFS) announced the pricing of a registered public offering of $60 million aggregate principal amount of its 7.50% notes due 2028. The offering is expected to result in net proceeds of approximately $58.50 million to the Company—or approximately $67.32 million if the underwriters fully exercise the overallotment option—based on a public offering price of 100% of the aggregate principal amount of the notes. These proceeds are calculated after deducting underwriting discounts, commissions, and estimated offering expenses of $300,000 payable by the Company.

According to the company, the Notes will mature on July 31, 2028 and may be redeemed in whole or in part at any time, or from time to time, at the Company's option on or after July 31, 2026. The Notes will bear interest at a rate of 7.50% per year, payable quarterly on January 31, April 30, July 31, and October 31 of each year, beginning on October 31, 2025.

The company has also granted the underwriters a 30-day option to purchase an additional $9 million aggregate principal amount of Notes to cover overallotments, if any.

The offering is expected to close on July 23, 2025.

The company has submitted an application for the Notes to be listed and trade on The Nasdaq Global Select Market under the trading symbol "OFSSO". If approved for listing, the company expects the Notes to begin trading within 30 days from the original issue date.

The company plans to use the net proceeds from this offering to partially redeem its 4.75% Notes due 2026, which mature on February 10, 2026. As of July 14, 2025, the Company had approximately $125.0 million aggregate principal amount outstanding of its 4.75% Notes due 2026.

On July 11, 2025, the company issued notices to the holders of the 4.75% Notes due 2026 regarding the exercise of its option to redeem a portion of the issued and outstanding amount of such notes. On August 11, 2025, the Company will redeem $25.0 million in aggregate principal amount of its 4.75% Notes due 2026, plus accrued interest and any required make-whole premium payment.