Eagle Point Credit Company ( ECC ) said Thursday that it has priced an underwritten public offering of 1 million shares of common stock at a price of $17.35 per share, or a 3.5% discount from the stock's previous close, resulting in total expected gross proceeds of $16.6 million.
The underwriters have been granted a 30-day option to purchase up to 150,000 additional shares to cover over-allotments.
The company intends to use the net proceeds for investments and for general corporate purposes.
Shares were 4.4% lower in recent morning trade.
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