OFS Credit Company Announces Second Quarter 2019 Financial Results - Seite 2

During the six months ended April 30, 2019, OFS Credit closed ten new investments, totaling $27.5 million, as well as two follow-on investments, totaling $1.7 million, in CLO equity securities. OFS Credit's portfolio currently has exposure to twenty-nine separate collateral managers.

Interest income increased $344,000 for the three months ended April 30, 2019, due to the deployment of $20.4 million in offering proceeds from our Series A Term Preferred Stock. The preferred stock transaction closed on March 25, 2019, and therefore the Company did not realize the full benefit of these investments in the quarter ended April 30, 2019 since the offering occurred in the second half of the quarter.

The $344,000 increase in interest investment income for the three months ended April 30, 2019 was offset by a $402,000 increase in net operating expenses over the prior fiscal quarter principally related to a $220,000 voluntary waiver of management fees in the prior quarter. Additionally, the Company incurred $166,000 in interest expense for the three months ended April 30, 2019 related to its Series A Term Preferred Stock. As with investment income, the Company did not incur this expense for the full fiscal quarter.

Investments appreciated $631,000 during the three months ended April 30, 2019, as markets recovered from the downturn that occurred during December of 2018.

Statement of Assets and Liabilities
April 30, 2019
(unaudited)

Assets:
Investments at fair value (cost of $66,883,042)				$	64,870,172
Cash				4,299,692
Prepaid expenses and other assets				29,648
Total assets				69,199,512
Liabilities:
6.875% Series A Term Preferred Stock (net of deferred debt issuance costs of $817,416)				20,499,084
Payable to adviser and affiliates				1,071,938
Accrued professional fees				116,975
Other liabilities				32,713
Total liabilities				21,720,710
Commitments and contingencies
Net assets				$	47,478,802
Net assets consists of:
Common stock, par value of $0.001 per share; 90,000,000 shares authorized and 2,505,044 shares issued and outstanding as of April 30, 2019				$	2,505
Paid-in capital in excess of par				49,964,646
Total distributable earnings				(2,488,349		)
Total net assets				47,478,802
Total liabilities and net assets				$	69,199,512
Net asset value per share				$	18.95

Statement of Operations