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CLO-focused investment company OFS Credit closes IPO

OFS Credit Co. Inc. on Oct. 10 closed an initial public offering of its common stock, resulting in net proceeds of $50 million.

OFS Credit's investment adviser OFS Capital Management LLC paid the sales load and organization, along with the offering costs associated with the IPO.

In addition, OFS Credit said that it has invested in equity tranches of 19 collateralized loan obligation vehicles, out of which 17 have a reinvestment period ending in 2022 or beyond, for a total cost of $43.6 million.