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Eagle Point Credit sells additional shares in overallotment

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Eagle Point Credit sells additional shares in overallotment

Underwriters for Eagle Point Credit Co. Inc.'s December common stock offering have purchased an additional 146,553 shares as part of the offering's overallotment option, yielding additional net proceeds to Eagle Point of about $2.5 million after underwriting discounts and commissions.

The company plans to use the net proceeds to acquire new investments and for general working capital. The full offering of 1.0 million shares was priced on Dec. 8, resulting in net proceeds of about $16.6 million.

Keefe Bruyette & Woods acted as sole book-running manager for the offering. Ladenburg Thalmann & Co. Inc. and Wunderlich Securities Inc. acted as co-lead managers. FBR Capital Markets & Co., MUFG Securities Americas Inc. and National Holdings Corp. unit National Securities Corp. were co-managers.