{"id":456741,"date":"2021-03-12T08:03:32","date_gmt":"2021-03-12T13:03:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456741"},"modified":"2021-03-12T08:03:32","modified_gmt":"2021-03-12T13:03:32","slug":"ofs-credit-company-announces-first-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ofs-credit-company-announces-first-quarter-2021-financial-results\/","title":{"rendered":"OFS Credit Company Announces First Quarter 2021 Financial Results"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignc { margin-left: auto; margin-right: auto }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwdoublebottom { border-bottom: double black 2.25pt }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwpadl4 { padding-left: 20px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth100 { width: 100% }\n.bwwidth2 { width: 2% }\n.bwwidth26 { width: 26% }\n.bwwidth30 { width: 30% }\n.bwwidth36 { width: 36% }\n.bwwidth44 { width: 44% }\n.bwwidth7 { width: 7% }\n.bwwidth80 { width: 80% }\n.bwwidth87 { width: 87% }\n.bwwidth89 { width: 89% }\n.bwwidth90 { width: 90% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\">\nOFS Credit Company Announces First Quarter 2021 Financial Results\n<\/p>\n<p class=\"bwalignc\">\nNet Asset Value Increased 22% From Prior Quarter\n<\/p>\n<p>CHICAGO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nOFS Credit Company, Inc. (NASDAQ: OCCI) (\u201cOFS Credit,\u201d the \u201cCompany,\u201d \u201cwe,\u201d \u201cus\u201d or \u201cour\u201d), an investment company that primarily invests in collateralized loan obligation (\u201cCLO\u201d) equity and debt securities, today announced its financial results for the fiscal quarter ended January 31, 2021.\n<\/p>\n<p><b>HIGHLIGHTS<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nNet investment income (&#8220;NII&#8221;) of $1.1 million, or $0.29 per common share, for the fiscal quarter ended January 31, 2021.\n<\/li>\n<li>\nCore net investment income (&#8220;Core NII&#8221;)<sup>1<\/sup> of $2.6 million, or $0.72 per common share, for the fiscal quarter ended January 31, 2021.\n<\/li>\n<li>\nNet asset value of $14.14 per common share as of January 31, 2021, an approximate 22% increase from $11.58 per common share at October 31, 2020.\n<\/li>\n<li>\nOn February 8, 2021, OFS Credit&#8217;s board of directors declared a $0.53 per share quarterly distribution, an approximate 2% increase from the prior quarter, for common stockholders for the quarter ending April 30, 2021. The distribution is payable in cash or shares of our common stock on April 30, 2021, to stockholders of record as of March 23, 2021. The total amount of cash distributed to all stockholders will be limited to 20% of the total distribution, excluding any cash paid for fractional shares.\n<\/li>\n<li>\nAs of January 31, 2021, the weighted average GAAP (as defined below) effective yield of our CLO equity investments at current cost was 13.47%.\n<\/li>\n<\/ul>\n<p><b>Management Commentary<\/b><\/p>\n<p>\n\u201cOur net asset value increased approximately 22% in the quarter due to unrealized gains in fair value, which were primarily due to a continued rebound in the corporate loan market,\u201d said Bilal Rashid. \u201cWe believe that our commitment to the strong, long-term performance of OFS Credit is aligned with the interests of OFS Capital Management, LLC, our investment adviser who, together with other insiders, owns approximately 15% of the Company\u2019s common stock.\u201d\n<\/p>\n<p><b>(1)<\/b><b>Non-GAAP Financial Measure &#8211; Core NII<\/b><\/p>\n<p>\nOn a supplemental basis, we disclose Core NII, which is a financial measure calculated and presented on a basis of methodology other than in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;). Our non-GAAP measures may differ from similar measures used by other companies, even if similar terms are utilized to identify such measures. This measure is not provided as a substitute for GAAP NII, but in addition to it. Core NII represents GAAP NII adjusted for net interest cash distributions received on our CLO equity investments. OFS Capital Management, LLC, our investment adviser, uses this information in its internal analysis of results and believes that this information may be informative in determining the quality of the Company&#8217;s financial performance, estimating taxable income, identifying trends in its results and providing meaningful period-to-period comparisons.\n<\/p>\n<p>\nFor GAAP purposes, interest income from investments in the \u201cequity\u201d class securities of CLO vehicles is recognized in accordance with the effective interest method, which is based on estimated cash flows to the expected redemption of the investments, and the investments&#8217; current amortized cost. The result is an effective yield for the investments that differs from the actual cash received. The effective yield is recognized as an increase to the amortized cost of the investment, and distributions received are recognized as a reduction in the amortized cost basis. Accordingly, interest income recognized on CLO equity securities in the GAAP statement of operations differs from the cash distributions received by the Company during the period (referred to below as \u201cCLO equity adjustments\u201d).\n<\/p>\n<p>\nOur measure of Core NII utilizes the interest account waterfall distributions of the underlying CLOs, determined by the underlying CLOs\u2019 trustees in accordance with the applicable CLO indentures, in lieu of the GAAP measure of effective-yield interest income. Management believes this measure to be informative of the cash component of taxable income reported to us by the underlying CLOs. However, such taxable income may also include non-cash components\u2014such as the amortization of premium or discounts on the underlying CLOs\u2019 commercial loans investments and the amortization of deferred debt issuance costs on the underlying CLOs\u2019 debt obligations\u2014as well as realized capital gains or losses resulting from the underlying CLOs&#8217; trading activities, which are generally retained in the principal account of (i.e., not distributed by) the underlying CLOs and will be impacted by tax attribute carry-over (e.g., loss carry-forwards) within the CLO vehicles. Moreover, the taxable income we recognize may also be influenced by differences between our fiscal year end and the fiscal year end of any of the CLOs in which we invest, the legal form of the CLO vehicles, and other factors.\n<\/p>\n<p>\nFor the Company to continue to qualify as a regulated investment company for U.S. federal income tax purposes, we are required, among other things, to distribute annually at least 90% of our investment company taxable income. Thus, management monitors Core NII as an indication of our estimated taxable income for a reporting period. We can offer no assurance that these estimates will reflect the final amount or tax character of our earnings, which cannot be determined until we receive tax reports from the underlying CLOs and prepare our tax returns following the close of our fiscal year. We also note that this non-GAAP measure may not serve as a useful indicator of taxable earnings, particularly during periods of market disruption and volatility, and, as such, our taxable income may differ materially from our Core NII.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwwidth80 bwblockalignc\">\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth36\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three Months Ended January 31, 2021<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwrowaltcolor0 bwwidth36\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwrowaltcolor0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Amount<\/b><\/p>\n<\/td>\n<td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwrowaltcolor0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Per Common Share<br \/>\n<br \/>Amount<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth36\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGAAP Net investment income\n<\/p>\n<\/td>\n<td class=\"bwtablemarginb bwblockalignl bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth30 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$1,055,630\n<\/p>\n<\/td>\n<td class=\"bwtablemarginb bwblockalignl bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth30 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.29\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwrowaltcolor0 bwwidth36\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCLO equity adjustments\n<\/p>\n<\/td>\n<td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth30 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1,518,883\n<\/p>\n<\/td>\n<td class=\"bwtablemarginb bwblockalignl bwrowaltcolor0 bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwrowaltcolor0 bwwidth30 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0.43\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth36\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCore Net investment income\n<\/p>\n<\/td>\n<td class=\"bwtablemarginb bwblockalignl bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth30 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$2,574,513\n<\/p>\n<\/td>\n<td class=\"bwtablemarginb bwblockalignl bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth30 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.72\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>Distributions<\/b><\/p>\n<p>\nOn February 8, 2021, our board of directors declared the following distribution on common shares.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth90\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Record Date<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Payable Date<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Distribution Per Common Share (1)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMarch 23, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nApril 30, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.53\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwpadl0 bwpadr0 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nThe total amount of cash distributed to all stockholders will be limited to 20% of the total distribution to be paid, excluding any cash paid for fractional shares. The remainder of the distribution (approximately 80%) will be paid in the form of shares of our common stock. The exact distribution of cash and stock to any given stockholder will be dependent upon his\/her election as well as elections of other stockholders, subject to the pro-rata limitation.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nIn addition, on February 8, 2021, the board of directors declared cash distributions on shares of the Company\u2019s 6.875% Series A Term Preferred Stock and 6.60% Series B Term Preferred Stock. For the Company\u2019s 6.875% Series A Term Preferred Stock, the Board declared six monthly cash distributions of $0.1432292 per preferred share. For the Company\u2019s 6.60% Series B Term Preferred Stock, the Board declared six monthly cash distributions of $0.1375 per preferred share.\n<\/p>\n<p>\nThe following schedule applies to the 6.875% Series A Term Preferred Stock distributions for Series A preferred stockholders of record on the close of business of each specific Record Date:\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth90\">\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Record Date<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Payable Date<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Distribution Per Share<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFebruary 19, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFebruary 26, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1432292\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMarch 24, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMarch 31, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1432292\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nApril 23, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nApril 30, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1432292\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMay 24, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMay 31, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1432292\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 23, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 30, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1432292\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJuly 23, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJuly 30, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1432292\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe following schedule applies to the 6.60% Series B Term Preferred Stock distributions for Series B preferred stockholders of record on the close of business of each specific Record Date:\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth90\">\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Record Date<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Payable Date<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Distribution Per Share<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFebruary 19, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFebruary 26, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1375\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMarch 24, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMarch 31, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1375\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nApril 23, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nApril 30, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1375\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMay 24, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nMay 31, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1375\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 23, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 30, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1375\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJuly 23, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignc bwwidth26\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJuly 30, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth44\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.1375\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>RESULTS OF OPERATIONS<\/b><\/p>\n<p><b><i>Portfolio Composition<\/i><\/b><\/p>\n<p>\nThe total fair value of our investment portfolio was $71.4 million at January 31, 2021, which was equal to approximately 87% of amortized cost. During the quarter ended January 31, 2021, we purchased two subordinated notes in new CLOs for $6.0 million, increasing our portfolio exposure to 24 separate collateral managers.\n<\/p>\n<p><b><i>Interest Income<\/i><\/b><\/p>\n<p>\nInterest income remained stable at $2.75 million for the three months ended January 31, 2021 compared to $2.74 million in the prior quarter.\n<\/p>\n<p><b><i>Expenses<\/i><\/b><\/p>\n<p>\nTotal expenses for the three months ended January 31, 2021 increased approximately $153,000 compared to the prior quarter.\n<\/p>\n<p>\nInterest expense for the three months ended January 31, 2021 increased approximately $46,000 compared to the prior quarter due to the issuance of the 6.60% Series B Term Preferred Stock in November 2020.\n<\/p>\n<p>\nManagement fee expense for the three months ended January 31, 2021 increased approximately $60,000 over the prior quarter, primarily due to an increase in the fair value of the investment portfolio.\n<\/p>\n<p>\nIncentive fee expense for the three months ended January 31, 2021 decreased approximately $36,000 over the prior quarter, primarily due to an decrease in net investment income.\n<\/p>\n<p>\nAdministrative fee expense for the three months ended January 31, 2021 increased approximately $88,000 over the prior quarter, primarily due to an increase in our allocable portion of personnel and software costs of our administrator, OFS Capital Services, LLC.\n<\/p>\n<p><b><i>Net Gain<\/i><\/b><\/p>\n<p>\nInvestments appreciated approximately $10.0 million during the three months ended January 31, 2021, primarily due to the increase in loan prices in the broadly syndicated loan market, which loans underlie our CLO investments.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td colspan=\"6\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\"><b>OFS Credit Company, Inc.<\/b><\/p>\n<p class=\"bwcellpmargin bwalignl\"><b>Statement of Assets and Liabilities <\/b><\/p>\n<p class=\"bwcellpmargin bwalignl\"><b>January 31, 2021<\/b><\/p>\n<p class=\"bwcellpmargin bwalignl\"><b>(unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Assets:<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInvestments at fair value (amortized cost of $82,238,242)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth7\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n71,373,059\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,739,697\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther assets\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n226,917\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total assets<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n77,339,673\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Liabilities:<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPreferred Stock (net of deferred debt issuance costs of $622,735)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n23,693,765\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPayable to adviser and affiliates\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,222,465\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccrued professional fees\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n64,375\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther liabilities\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n111,347\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n25,091,952\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCommitments and contingencies\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net assets<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth7\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n52,247,721\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net assets consists of:<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCommon stock, par value of $0.001 per share; 90,000,000 shares authorized and 3,695,652 shares issued and outstanding as of January 31, 2021\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth7\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,696\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPaid-in capital in excess of par\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n54,835,065\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal distributable losses\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,591,040\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total net assets<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth7\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n52,247,721\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth89\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet asset value per share\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth7\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14.14\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td colspan=\"5\" class=\"bwvertalignb bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\"><b>Statement of Operations<\/b><\/p>\n<p class=\"bwcellpmargin bwalignl\"><b>Three Months Ended January 31, 2021<\/b><\/p>\n<p class=\"bwcellpmargin bwalignl\"><b>(unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Investment income:<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwvertalignb bwpadl0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest income\n<\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,750,756\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwvertalignb bwpadl0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Operating expenses:<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest expense\n<\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n453,890\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nManagement fees\n<\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n334,942\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncentive fees\n<\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n264,020\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdministration fees\n<\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n329,190\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nProfessional fees\n<\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n173,122\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBoard of directors fees\n<\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n45,000\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther expenses\n<\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n94,962\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth87 bwpadl4\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total operating expenses<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,695,126\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwvertalignb bwpadl0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth87 bwpadl4\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net investment income <\/b><\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,055,630\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwvertalignb bwpadl0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net realized and unrealized gain (loss) on investments:<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwvertalignb bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet unrealized appreciation on investments\n<\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10,048,045\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth87 bwpadl4\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net gain on investments<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10,048,045\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth87 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwwidth2 bwrowaltcolor0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwvertalignb bwpadl0 bwrowaltcolor0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth87 bwpadl4\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net increase in net assets resulting from operations<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth7\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,103,675\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>About OFS Credit Company, Inc.<\/b><\/p>\n<p>\nOFS Credit is a non-diversified, externally managed closed-end management investment company. The Company\u2019s investment objective is to generate current income, with a secondary objective to generate capital appreciation primarily through investment in CLO debt and subordinated securities. The Company&#8217;s investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 1940<sup>1<\/sup>, as amended, and headquartered in Chicago, Illinois with additional offices in New York and Los Angeles.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nStatements in this press release regarding management&#8217;s future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements relating to: the Company&#8217;s results of operations, including NII, Core NII and net asset value and the factors that may affect such results; the Company&#8217;s commitment to strong, long-term performance and the alignment of that performance to the ownership of the Company&#8217;s common stock by affiliated parties; and other factors may constitute forward-looking statements. Forward-looking statements can be identified by terminology such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccould,\u201d \u201ccould increase the likelihood,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cis planned,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwill enable,\u201d \u201cwould be expected,\u201d \u201clook forward,\u201d \u201cmay provide,\u201d \u201cwould\u201d or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in documents that may be filed by OFS Credit from time to time with the Securities and Exchange Commission, as well as the impact of the global COVID-19 pandemic and related changes in base interest rates and significant market volatility on our business, our portfolio companies, our industry and the global economy. As a result of such risks, uncertainties and factors, actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. OFS Credit is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.\n<\/p>\n<p><sup>1<\/sup> Registration does not imply a certain level of skill or training\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210312005080r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210312005080\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210312005080\/en\/<\/a><\/span><\/p>\n<p>\nINVESTOR RELATIONS:<br \/>\n<br \/>OFS Credit Company, Inc.<br \/>\n<br \/>Steve Altebrando, 646-652-8473<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:saltebrando@ofsmanagement.com\">saltebrando@ofsmanagement.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Illinois<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210312005080\/en\/777430\/3\/OFSCreditLogo_rgb-01.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>OFS Credit Company Announces First Quarter 2021 Financial Results Net Asset Value Increased 22% From Prior Quarter CHICAGO&#8211;(BUSINESS WIRE)&#8211; OFS Credit Company, Inc. (NASDAQ: OCCI) (\u201cOFS Credit,\u201d the \u201cCompany,\u201d \u201cwe,\u201d \u201cus\u201d or \u201cour\u201d), an investment company that primarily invests in collateralized loan obligation (\u201cCLO\u201d) equity and debt securities, today announced its financial results for the fiscal quarter ended January 31, 2021. HIGHLIGHTS Net investment income (&#8220;NII&#8221;) of $1.1 million, or $0.29 per common share, for the fiscal quarter ended January 31, 2021. Core net investment income (&#8220;Core NII&#8221;)1 of $2.6 million, or $0.72 per common share, for the fiscal quarter ended January 31, 2021. Net asset value of $14.14 per common share as of January 31, 2021, an approximate 22% &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ofs-credit-company-announces-first-quarter-2021-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;OFS Credit Company Announces First Quarter 2021 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-456741","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>OFS Credit Company Announces First Quarter 2021 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ofs-credit-company-announces-first-quarter-2021-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OFS Credit Company Announces First Quarter 2021 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"OFS Credit Company Announces First Quarter 2021 Financial Results Net Asset Value Increased 22% From Prior Quarter CHICAGO&#8211;(BUSINESS WIRE)&#8211; OFS Credit Company, Inc. (NASDAQ: OCCI) (\u201cOFS Credit,\u201d the \u201cCompany,\u201d \u201cwe,\u201d \u201cus\u201d or \u201cour\u201d), an investment company that primarily invests in collateralized loan obligation (\u201cCLO\u201d) equity and debt securities, today announced its financial results for the fiscal quarter ended January 31, 2021. HIGHLIGHTS Net investment income (&#8220;NII&#8221;) of $1.1 million, or $0.29 per common share, for the fiscal quarter ended January 31, 2021. Core net investment income (&#8220;Core NII&#8221;)1 of $2.6 million, or $0.72 per common share, for the fiscal quarter ended January 31, 2021. Net asset value of $14.14 per common share as of January 31, 2021, an approximate 22% &hellip; Continue reading &quot;OFS Credit Company Announces First Quarter 2021 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ofs-credit-company-announces-first-quarter-2021-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-12T13:03:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210312005080r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ofs-credit-company-announces-first-quarter-2021-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ofs-credit-company-announces-first-quarter-2021-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"OFS Credit Company Announces First Quarter 2021 Financial Results\",\"datePublished\":\"2021-03-12T13:03:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ofs-credit-company-announces-first-quarter-2021-financial-results\\\/\"},\"wordCount\":1937,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ofs-credit-company-announces-first-quarter-2021-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210312005080r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ofs-credit-company-announces-first-quarter-2021-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ofs-credit-company-announces-first-quarter-2021-financial-results\\\/\",\"name\":\"OFS Credit Company Announces First Quarter 2021 Financial Results - 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(NASDAQ: OCCI) (\u201cOFS Credit,\u201d the \u201cCompany,\u201d \u201cwe,\u201d \u201cus\u201d or \u201cour\u201d), an investment company that primarily invests in collateralized loan obligation (\u201cCLO\u201d) equity and debt securities, today announced its financial results for the fiscal quarter ended January 31, 2021. HIGHLIGHTS Net investment income (&#8220;NII&#8221;) of $1.1 million, or $0.29 per common share, for the fiscal quarter ended January 31, 2021. Core net investment income (&#8220;Core NII&#8221;)1 of $2.6 million, or $0.72 per common share, for the fiscal quarter ended January 31, 2021. 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