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ECC

Eagle Point Credit Slips 4.4% After Pricing Stock Offering at 3.5% Discount

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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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