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OFS Capital Corporation Announces Certain Preliminary Estimates of Its Fourth Quarter 2020 Financial Results
CHICAGO--(BUSINESS WIRE)-- OFS Capital Corporation (Nasdaq: OFS) (“OFS Capital,”, “we,” “us,” or “our”) today announced certain preliminary estimates of its
About this update from Ofs Capital Corporation
[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--\nOFS Capital Corporation (Nasdaq: OFS) (“OFS Capital,”, “we,” “us,” or “our”) today announced certain preliminary estimates of its financial results for the quarter ended December 31, 2020.\n\nPRELIMINARY ESTIMATES OF CERTAIN FINANCIAL HIGHLIGHTS\n\n\nNet asset value per share was estimated to be between $11.75 and $11.85 per common share at December 31, 2020. This compares to a net asset value per common share of $11.18 at September 30, 2020.\n\n\nNet investment income was estimated to be between $0.21 and $0.23 per common share for the quarter ended December 31, 2020. This compares to net investment income of $0.20 per common share for the quarter ended September 30, 2020.\n\n\nNo additional loans were placed on non-accrual status in the quarter.\n\n\nSBA debentures were permanently reduced by $23.5 million during the quarter. They were additionally reduced by $9.8 million on January 5, 2021. Principal amounts of our outstanding borrowings were as follows (in millions):\n\n\n\n\n \n\n\n\nAs of December 31, 2020\n\n\n\n \n\n\n\nAs of September 30, 2020\n\n\n\n\n\nSecured lines of credit\n\n\n\n$\n\n\n\n32.1\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n24.7\n\n\n\n \n\n\n\n\n\nSBA debentures\n\n\n\n105.3\n\n\n\n \n\n\n\n \n\n\n\n128.8\n\n\n\n \n\n\n\n\n\nUnsecured debt\n\n\n\n177.8\n\n\n\n \n\n\n\n \n\n\n\n177.8\n\n\n\n \n\n\n\n\n\nTotal debt\n\n\n\n$\n\n\n\n315.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n331.3\n\n\n\n \n\n\n\n\n\nAt December 31, 2020, we had $37.7 million in cash and unused capacity under our credit facilities.\n\n\nThese estimates are subject to the completion of our financial closing procedures and are not a comprehensive statement of our financial position, results of operations, or cash flows for the quarter ended December 31, 2020. Final results may differ materially from these estimates as a result of the completion of our financial closing procedures, as well as subsequent events, including the discovery of information affecting fair values of our portfolio investments as of December 31, 2020, arising between now and the completion of our financial statements and the filing of our Annual Report on Form 10-K for the year then ended.\n\nThe preliminary financial estimates provided herein have been prepared by, and are the responsibility of OFS Capital's management. KPMG LLP has not audited, review...