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PHILADELPHIA—Bethel Keith, a director at FS Credit Opportunities Corp. (NASDAQ:FSCO), made a recent acquisition of company stock, according to a filing with the Securities and Exchange Commission. The purchase comes as FSCO trades near its 52-week high of $7.12, with the stock showing impressive momentum through a 32% return over the past year. On February 13, Keith purchased 5,000 shares of common stock at a price of $6.96 per share, amounting to a total transaction value of $34,800. Following this purchase, Keith now holds 20,000 shares directly in the $1.38 billion market cap company, which currently offers an attractive 11.14% dividend yield. InvestingPro analysis reveals additional insights about insider trading patterns and dividend sustainability.
In addition to these direct holdings, Keith's indirect ownership includes 2,500 shares held through a spouse's IRA account. This acquisition reflects Keith's continued investment in FS Credit Opportunities Corp., a company known for its focus on credit opportunities and its track record of raising dividends for three consecutive years.
In other recent news, FS Credit Opportunities Corp. has announced a potential $150 million at-the-market offering in collaboration with ALPS Distributors, Inc. The distribution agreement, effective from January 15, 2025, will permit FS Credit Opportunities Corp. to sell its common shares directly on the market, according to a prospectus supplement. The shares will not be sold below their current net asset value, excluding any commission or discount. A sub-placement agreement has also been established with UBS Securities LLC, which will be compensated up to 0.80% of the gross sales proceeds from shares sold through them. This strategic move allows FS Credit Opportunities Corp. to flexibly finance its operations by selling shares in response to market conditions and capital needs. It's important to note that these are recent developments and investors are encouraged to review the full text of the distribution agreement and sub-placement agent agreement, which are filed with the SEC.
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