CHICAGO–(Enterprise WIRE)–OFS Cash Company (Nasdaq: OFS) (“OFS Funds,”, “we,” “us,” or “our”) today introduced specified preliminary estimates of its fiscal results for the quarter finished December 31, 2020.
PRELIMINARY ESTIMATES OF Particular Financial HIGHLIGHTS
- Internet asset value per share was estimated to be concerning $11.75 and $11.85 for every typical share at December 31, 2020. This compares to a internet asset benefit per widespread share of $11.18 at September 30, 2020.
- Net financial investment cash flow was believed to be in between $.21 and $.23 for every typical share for the quarter ended December 31, 2020. This compares to net expenditure money of $.20 for each frequent share for the quarter finished September 30, 2020.
- No further loans have been placed on non-accrual position in the quarter.
- SBA debentures have been forever minimized by $23.5 million during the quarter. They have been also minimized by $9.8 million on January 5, 2021. Principal amounts of our fantastic borrowings have been as follows (in tens of millions):
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As of December 31, 2020 |
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As of September 30, 2020 |
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Secured traces of credit score |
$ |
32.1 |
|
|
$ |
24.7 |
|
|
SBA debentures |
105.3 |
|
|
128.8 |
|
||
|
Unsecured personal debt |
177.8 |
|
|
177.8 |
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||
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Whole financial debt |
$ |
315.2 |
|
|
$ |
331.3 |
|
- At December 31, 2020, we had $37.7 million in funds and unused potential under our credit amenities.
These estimates are matter to the completion of our fiscal closing strategies and are not a detailed statement of our economical position, results of functions, or money flows for the quarter finished December 31, 2020. Ultimate success may possibly vary materially from these estimates as a outcome of the completion of our monetary closing procedures, as perfectly as subsequent occasions, together with the discovery of information influencing reasonable values of our portfolio investments as of December 31, 2020, arising concerning now and the completion of our money statements and the submitting of our Yearly Report on Sort 10-K for the year then finished.
The preliminary financial estimates provided herein have been ready by, and are the accountability of OFS Capital’s administration. KPMG LLP has not audited, reviewed, compiled, or done any strategies with respect to the accompanying preliminary economic facts. Accordingly, KPMG LLP does not convey an viewpoint or any other sort of assurance with respect thereto.
ABOUT OFS Cash
OFS Cash Corporation is an externally managed, closed-stop, non-diversified administration financial commitment enterprise that has elected to be controlled as a company progress company. OFS Capital’s financial commitment goal is to offer stockholders with both of those recent money and money appreciation mainly as a result of credit card debt investments and, to a lesser extent, equity investments. OFS Capital invests mostly in privately held center-current market corporations in the United States, like reduced-middle-marketplace providers, focusing on investments of $3 million to $20 million in organizations with yearly EBITDA in between $3 million and $50 million. OFS Capital delivers adaptable alternatives by a wide variety of asset courses including senior secured loans, which features initial-lien, 2nd-lien and unitranche loans, as very well as subordinated financial loans and, to a lesser extent, warrants and other equity securities. OFS Capital’s expense functions are managed by OFS Money Management, LLC, an investment decision adviser registered underneath the Investment decision Advisers Act of 19401, as amended, and headquartered in Chicago, Illinois, with added places of work in New York and Los Angeles.
Forward-Searching STATEMENTS
This report may consist of forward-searching statements that contain sizeable risks and uncertainties, including the long run operating final results of OFS Cash. Forward-hunting statements can be determined by terminology these as “anticipate,” “believe,” “could,” “could boost the chance,” “estimate,” “expect,” “intend,” “is prepared,” “may,” “should,” “will,” “will help,” “would be envisioned,” “look ahead,” “may present,” “would” or identical phrases, variations of such conditions or the negative of individuals phrases. This sort of forward-hunting statements contain regarded and unidentified pitfalls, uncertainties and other factors together with people dangers, uncertainties and variables referred to in OFS Capital’s Annual Report on Type 10-K for the yr ended December 31, 2019 submitted with the Securities and Trade Commission below the section “Risk Factors,” and in “Element II, Merchandise 1A. Threat Elements” in our Quarterly Report in Kind 10-Q for the quarter finished September 30, 2020, as very well as other paperwork that could be submitted by OFS Funds from time to time with the Securities and Exchange Commission. As a outcome of these kinds of threats, uncertainties and factors, precise final results may vary materially from any foreseeable future results, functionality or achievements mentioned in or implied by the ahead-on the lookout statements contained herein. OFS Cash is furnishing the details in this push launch as of this day and assumes no obligations to update the facts involved in this push release or revise any ahead-on the lookout statements, whether or not as a end result of new info, upcoming events or if not.
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