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Investing.com -- Carlyle Credit Income Fund (NYSE:CCIF) stock dropped 2.1% in after-hours trading Thursday following the announcement of a public offering of preferred shares.
The company has priced an underwritten public offering of 1.2 million shares of its 7.375% Series D Preferred Shares due 2028 at $25 per share. The offering is expected to generate approximately $29.4 million in net proceeds after underwriting discounts, commissions, and estimated offering expenses.
The preferred shares have received a ’BBB+’ rating from Egan-Jones Ratings Company and are expected to be listed on the New York Stock Exchange under the symbol "CCID" within 30 days of issuance.
Carlyle Credit Income Fund has granted the underwriters a 30-day option to purchase up to an additional 180,000 preferred shares. The offering is expected to close on October 30, 2025, subject to customary closing conditions.
Lucid Capital Markets, LLC is serving as the lead book-running manager for the offering, with B. Riley Securities, Inc. and Piper Sandler & Co. acting as joint book-running managers. A.G.P. / Alliance Global Partners is the lead manager, while Clear Street LLC and InspereX LLC are co-managers for the transaction.
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