Eagle Point announces offering of 7% convertible and perpetual preferred stock

Eagle Point Credit Company announced it has commenced a continuous public offering of up to 4M shares of its 7.00% Series AA convertible and perpetual preferred stock and 7.00% Series AB convertible and perpetual preferred stock at a public offering price of $25 per share, which will result in net proceeds to the company of approximately $91M after payment of estimated commissions and offering expenses if all shares of the Preferred Stock are sold.