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OFS Capital Corp . (NASDAQ:OFS), a company currently trading at $8.46 with a market capitalization of $113.6 million and an impressive dividend yield of 16.1%, announced Friday that it will redeem a portion of its 4.75% Notes due 2026. InvestingPro data shows the company has maintained dividend payments for 13 consecutive years, demonstrating strong financial discipline. According to a statement based on a filing with the Securities and Exchange Commission, the company has notified holders of these notes that it will exercise its option to redeem $25 million in aggregate principal amount out of the $125 million currently outstanding. With a healthy current ratio of 2.23, InvestingPro analysis indicates the company’s liquid assets comfortably exceed its short-term obligations.
The redemption will take place on August 11, 2025. The notes to be redeemed (CUSIP No. 67103B AA8) will be repurchased at the greater of 100% of the principal amount or the sum of the present value of the remaining scheduled payments of principal and interest, discounted to the redemption date using the applicable Treasury Rate plus 50 basis points. The calculation excludes accrued and unpaid interest up to the redemption date.
This partial redemption is being conducted under the terms outlined in the Indenture dated April 16, 2018, and the Fifth Supplemental Indenture dated February 10, 2021, between OFS Capital and U.S. Bank Trust Company, National Association, as trustee.
OFS Capital’s common stock and certain notes are listed on the Nasdaq Global Select Market under the symbols OFS and OFSSH, respectively.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, OFS Capital Corp reported its first-quarter 2025 earnings, revealing a shortfall in both earnings per share (EPS) and revenue compared to analyst forecasts. The company announced an EPS of $0.26, missing the projected $0.30, and reported revenue of $10.3 million, which fell below the anticipated $11.32 million. Despite these challenges, OFS Capital maintained its quarterly distribution at $0.34 per share. The company emphasized a cautious approach to capital deployment due to ongoing economic uncertainties. Additionally, OFS Capital held its 2025 Annual Meeting of Stockholders, where Elaine E. Healy was elected as a Class I Director for a three-year term. The ratification of KPMG LLP as the independent auditor for the fiscal year ending December 31, 2025, was also confirmed. This series of developments reflects OFS Capital’s ongoing efforts to navigate a challenging economic environment while maintaining shareholder value.
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