Filed pursuant to Rule 497
1933 Act File No. 333-218611
PROSPECTUS SUPPLEMENT dated June 14, 2018
(to Prospectus dated May 2, 2018, as supplemented from time to time)
EAGLE POINT CREDIT COMPANY INC.
$50,000,000 of Common Stock
Up to 1,000,000 Shares of 7.75% Series B Term Preferred Stock due 2026
Liquidation Preference $25 per share
This prospectus supplement supplements the prospectus supplement dated May 21, 2018, or the “May Prospectus Supplement”, and the accompanying prospectus thereto dated May 2, 2018, or the “Base Prospectus.” The Base Prospectus, together with the May Prospectus Supplement and this prospectus supplement, are collectively referred to as the “Prospectus.” The Prospectus relates to the offering of $50,000,000 aggregate amount of common stock, par value $0.001 per share, or the “common stock,” and up to 1,000,000 shares of 7.75% Series B Term Preferred Stock due 2026, or the “Series B Term Preferred Stock,” with an aggregate liquidation preference of $25,000,000, pursuant to an at market issuance sales agreement, dated June 28, 2017, with FBR Capital Markets & Co., or the “Sales Agreement.” This prospectus supplement provides certain updated financial information for the Company as of May 31, 2018.
Investing in our securities involves a high degree of risk, including the risk of a substantial loss of investment. Before purchasing any shares of our common stock or Series B Term Preferred Stock, you should read the discussion of the principal risks of investing in our securities, which are summarized in “Risk Factors” beginning on page S-22 of the May Prospectus Supplement and page 18 of the Base Prospectus.
The terms “we,” “us” and “our” refer to Eagle Point Credit Company Inc., a Delaware corporation, and its consolidated subsidiaries.
UPDATED FINANCIAL INFORMATION
Status of the Offering
The number shares of our common stock and Series B Term Preferred Stock sold pursuant to the Sales Agreement, the gross proceeds raised, the net proceeds to us before offering and transaction expenses and the related sales agent commissions are as follows:
| Number of Shares of Common Stock |
Number of Shares of Series B Term Preferred Stock |
Gross Proceeds |
Aggregate Sales Agent Commissions |
Net Proceeds (Before Offering and Transaction Expenses) |
||||||||||||||||
| Fiscal year ended December 31, 2017 | ||||||||||||||||||||
| Third Quarter | 295,462 | 27,584 | $ | 6,827,712 | $ | 119,485 | $ | 6,708,227 | ||||||||||||
| Fourth Quarter | 288,646 | — | 5,402,581 | 107,231 | 5,295,350 | |||||||||||||||
| Fiscal year ending December 31, 2018 | ||||||||||||||||||||
| First Quarter | 295,969 | — | 5,359,219 | 107,184 | 5,252,035 | |||||||||||||||
| Second Quarter (through June 14, 2018) | 338,136 | — | 6,136,446 | 122,729 | 6,013,717 | |||||||||||||||
| Total | 1,218,213 | 27,584 | $ | 23,725,958 | $ | 456,629 | $ | 23,269,329 | ||||||||||||
Estimated Financial Information as of May 31, 2018
Management’s unaudited estimate of the range of our net asset value per share of our common stock as of May 31, 2018 was between $16.62 and $16.72.