Eagle Point Credit (ECC) Enters $3.4M Securities Purchase Agreement

September 20, 2016 5:42 PM EDT

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Eagle Point Credit Company Inc. (NYSE: ECC) today announced that it has entered into a Securities Purchase Agreement for the sale of 201,000 shares of the Company’s common stock, par value $0.001 per share, in a direct placement to a single institutional investor at a price per share of $17.45, which will result in net proceeds to the Company of approximately $3.4 million after payment of estimated offering expenses payable by the Company.

The offering is expected to close on or about September 26, 2016, subject to customary closing conditions.

The Company plans to use the net proceeds from the offering to acquire investments in accordance with its investment objectives and strategies and for general working capital purposes.

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