OFS Credit Company Announces Results of Stockholder Elections for the Distribution for the Fiscal Quarter Ending July 31, 2023

OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit”, the “Company”, “we”, “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced the results of stockholder elections for the $0.55 per common share distribution declared by the Company’s Board of Directors on June 1, 2023. Stockholders had until July 18, 2023, to elect whether to receive the distribution in cash (up to an aggregate maximum cash amount of 20% of the total distribution), excluding any cash paid for fractional shares, or in shares of the Company’s common stock. The distribution is payable on July 31, 2023 to common stockholders of record as of June 14, 2023.

The distribution will consist of approximately $1.2 million in cash and 571,340 shares of common stock, or approximately 4.7% of the Company’s outstanding common stock prior to the distribution. The amount of cash elected to be received was greater than the cash limit of 20% of the aggregate distribution amount, therefore resulting in the payment of a combination of cash and stock to stockholders who elected to receive cash. The number of shares of common stock comprising the stock portion was calculated based on a price of $8.33 per share, which equaled the volume weighted average trading price per share of the Company’s common stock on the Nasdaq Capital Market on July 17, 18 and 19, 2023.

Stockholders who elected to receive the distribution solely in shares of common stock and stockholders who did not make an election will receive approximately 0.066026 shares of common stock for each share of common stock they owned on the record date of June 14, 2023. Holders of approximately 37% of the Company’s common stock elected to receive only stock or did not make an election.

Stockholders electing to receive the distribution in all cash will receive cash in the amount of $0.175367 per common share, or approximately 31.9% of the $0.55 distribution, and $0.374633 shares of common stock, or approximately 68.1% of the total distribution for each share of common stock they owned on the record date of June 14, 2023. Cash in lieu of fractional shares will be issued, if applicable. Total outstanding shares of the Company’s common stock following the distribution will be approximately 12,700,830 (including shares issued under the Company’s At-the-Market offering through July 20, 2023).