Eagle Point greenshoe exercised, lifts 6.5% preferreds to $30 million

By Devika Patel

Knoxville, Tenn., June 21 – Underwriters for Eagle Point Credit Co. Inc.’s 6.5% $25-par series C term preferred stock due 2031 (Eagan-Jones: BBB) exercised their $3.5 million greenshoe in full, lifting the total deal size to $30 million, according to an 8-K filed with the Securities and Exchange Commission.

As previously reported, Eagle Point previously priced $26.5 million of the preferreds on June 10.

Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc., Oppenheimer & Co. Inc., Incapital LLC and Wedbush Securities Inc. were the bookrunners.

The preferreds now trade on the New York Stock Exchange under the symbol “ECCC.”

Proceeds will be used to acquire investments and for general working capital purposes.

Eagle Point is a Greenwich, Conn.-based externally managed, non-diversified closed-end management investment company.

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