other material
confidence high
sentiment neutral
materiality 0.65
FS Credit Opportunities Corp. plans NYSE direct listing in Nov 2022; phased share availability over 6 months
FS Credit Opportunities Corp.
- Expected NYSE listing early to mid-November 2022 via direct listing; ticker FSCO.
- Phased liquidity: 1/3 shares tradable at listing, additional 1/3 at 90 and 180 days.
- Distribution expected to increase to annualized 8.25%+ of NAV at listing; October distribution accelerated to cash.
- Account freeze from Oct 17; DRP suspended on Oct 3, reinstated 181 days after listing.
- Certain directors and officers expected to commit to an investment fund to support stock price.