Eagle Point Credit holds initial closing for 7% Series AA Convertible Perpetual Preferred offering

Eagle Point Credit Co Inc.

Initial closing on May 6, 2024 for 7.00% Series AA Convertible and Perpetual Preferred Stock.
Continuous offering of up to 4,000,000 shares ($100M aggregate liquidation preference) of Convertible Preferred Stock.
Risk factor update: No cap on common shares issuable upon conversion, potentially causing significant dilution.
Conversion rate based on 5-day VWAP; below-NAV conversions could dilute existing common stockholders.
Issuance may affect NYSE listing standards; failure could lead to delisting.

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