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OFS Capital Corporation Announces Certain Preliminary Estimates of Its Third Quarter 2021 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 September 30, 2021.\n\nPRELIMINARY ESTIMATES OF CERTAIN FINANCIAL HIGHLIGHTS\n\n\nNet asset value per share was estimated to be between $14.11 and $14.21 per common share at September 30, 2021. This compares to a net asset value per common share of $13.42 at June 30, 2021.\n\n\nNet investment income was estimated to be between $0.23 and $0.25 per common share for the quarter ended September 30, 2021. This compares to net investment income of $0.24 per common share for the quarter ended June 30, 2021.\n\n\nAdjusted net investment income(1) was estimated to be between $0.24 and $0.26 per common share for the quarter ended September 30, 2021.\n\n\nNo additional loans were placed on non-accrual status in the quarter.\n\n\nSBA debentures were permanently reduced by $25.6 million during the quarter. Principal amounts of our outstanding borrowings were as follows (in millions):\n\n\n\n\n \n\n\n\nAs of September 30, 2021\n\n\n\n \n\n\n\nAs of June 30, 2021\n\n\n\n\n\nSecured lines of credit\n\n\n\n$\n\n\n\n45.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n24.1\n\n\n\n \n\n\n\n\n\nSBA debentures\n\n\n\n69.9\n\n\n\n \n\n\n\n \n\n\n\n95.5\n\n\n\n \n\n\n\n\n\nUnsecured debt*\n\n\n\n204.3\n\n\n\n \n\n\n\n \n\n\n\n204.3\n\n\n\n \n\n\n\n\n\nTotal debt\n\n\n\n$\n\n\n\n320.1\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n323.9\n\n\n\n \n\n\n\n\n\n\n*On October 1, 2021, we caused notices to be issued to the holders of OFS Capital's 6.25% unsecured notes due September 2023 regarding our exercise of our option to redeem on November 1, 2021 all $25.0 million in aggregate principal amount of the issued and outstanding 6.25% unsecured notes due September 2023 plus accrued and unpaid interest.\n\n\n\n\n\nAt September 30, 2021, we had $7.0 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 September 30, 2021. The fair values of our portfolio investments are yet to be approved by our board of directors, and management's review of subsequent events, including disc...