secwatch.observer — SEC 8-K summary
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Issuer:     OFS Capital Corp (OFS)
CIK:        0001487918
Form:       8-K
Filed at:   2022-12-15T23:59:59+00:00
Accession:  0001487918-22-000075
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OFS Capital reduces PacWest credit facility to $25M, removes No Net Losses covenant
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- Maximum borrowing capacity cut from $35M to $25M; unused commitment fee of 0.50% applies on amounts over $15M.
- The No Net Losses covenant, which restricted net losses in more than two of the prior four quarters, has been eliminated.
- New covenants: minimum Net Asset Value of $100M, minimum quarterly Net Investment Income of $2M, max Debt/Worth ratio of 350%.
- Amendment executed December 15, 2022; PWB Credit Facility used for general corporate purposes and investment funding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1487918/000148791822000075/0001487918-22-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1487918/000148791822000075/ofs-20221215.htm
  HTML page:      https://secwatch.observer/filing/0001487918-22-000075

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