secwatch.observer — SEC 8-K summary
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Issuer:     Eagle Point Credit Co Inc. (ECC)
CIK:        0001604174
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001104659-24-058779
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604174/000110465924058779/0001104659-24-058779-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604174/000110465924058779/tm2413499d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-058779

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