OFS Capital Corp
For the period ended Sep 30, 2026. Filed Oct 30, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 30, 2026
OFS$3.78+1.7%Stored close · as of Nov 6, 2026
Contents
Consolidated Statements of Assets and Liabilities as of September 30, 2026 (unaudited) and December 31, 2025
Consolidated Statements of Assets and Liabilities (unaudited)
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| Assets | ||
| Investments, at fair value: | ||
| Non-control/non-affiliate investments (amortized cost of $205,003 and $300,748, respectively) | $141,976 | $242,070 |
| Affiliate investments (amortized cost of $29,167 and $27,652, respectively) | 110,171 | 99,945 |
| Total investments, at fair value (amortized cost of $234,170 and $328,400, respectively) | 252,147 | 342,015 |
| Cash and cash equivalents | 3,132 | 3,359 |
| Interest and dividends receivable | 330 | 719 |
| Receivable for investments sold | 2,390 | — |
| Prepaid expenses and other assets | 2,910 | 613 |
| Total assets | $260,909 | $346,706 |
| Liabilities | ||
| Revolving lines of credit | $25,400 | $55,450 |
| Unsecured Notes (net of deferred debt issuance costs of $1,752 and $2,812, respectively) | 127,248 | 162,188 |
| Interest payable | 1,760 | 2,269 |
| Distribution payable | 2,278 | — |
| Payable to adviser and affiliates (Note 3) | 1,545 | 2,264 |
| Payable for investments purchased | 1,461 | — |
| Other liabilities | 2,388 | 1,347 |
| Total liabilities | $162,080 | $223,518 |
| Commitments and contingencies (Note 6) | ||
| Net assets | ||
| Preferred stock, par value of $0.01 per share, 2,000,000 shares authorized, -0- shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively | $— | $— |
| Common stock, par value of $0.01 per share, 100,000,000 shares authorized, 13,398,078 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively | 134 | 134 |
| Paid-in capital in excess of par | 174,195 | 174,195 |
| Total accumulated losses | (75,500) | (51,141) |
| Total net assets | $98,829 | $123,188 |
| Total liabilities and net assets | $260,909 | $346,706 |
| Number of common shares outstanding | 13,398,078 | 13,398,078 |
| Net asset value per share | $7.38 | $9.19 |
Consolidated Statements of Operations (unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Investment income | ||||
| Interest income: | ||||
| Non-control/non-affiliate investments | $5,201 | $9,125 | $18,812 | $28,326 |
| Affiliate investments | 4 | — | 17 | — |
| Total interest income | 5,205 | 9,125 | 18,829 | 28,326 |
| Payment-in-kind interest and dividend income: | ||||
| Non-control/non-affiliate investments | 76 | 419 | 248 | 1,205 |
| Affiliate investments | 440 | 351 | 1,454 | 935 |
| Total payment-in-kind interest and dividend income | 516 | 770 | 1,702 | 2,140 |
| Dividend income: | ||||
| Non-control/non-affiliate investments | 11 | 221 | 33 | 242 |
| Affiliate investments | — | 273 | 874 | 273 |
| Total dividend income | 11 | 494 | 907 | 515 |
| Fee income: | ||||
| Non-control/non-affiliate investments | 205 | 162 | 240 | 341 |
| Affiliate investments | 1 | — | 1 | — |
| Total fee income | 206 | 162 | 241 | 341 |
| Total investment income | 5,938 | 10,551 | 21,679 | 31,322 |
| Expenses | ||||
| Interest expense | 3,178 | 4,542 | 10,801 | 12,242 |
| Base management fee | 1,221 | 1,410 | 3,996 | 4,438 |
| Income Incentive Fee | — | 607 | 408 | 1,758 |
| Professional fees | 404 | 388 | 1,112 | 1,227 |
| Administration fee | 338 | 387 | 1,031 | 1,163 |
| Other expenses | 251 | 277 | 736 | 806 |
| Total expenses before base management fee waiver | 5,392 | 7,611 | 18,084 | 21,634 |
| Base management fee waiver (see Note 3) | (173) | — | (596) | — |
| Total expenses, net of base management fee waiver | 5,219 | 7,611 | 17,488 | 21,634 |
| Net investment income | 719 | 2,940 | 4,191 | 9,688 |
| Net realized and unrealized gain (loss) on investments | ||||
| Net realized loss on non-control/non-affiliate investments | (7,824) | (4,647) | (25,143) | (11,425) |
| Income tax benefit on net realized loss on investments | — | 1 | — | 1 |
| Net unrealized appreciation (depreciation) on non-control/non-affiliate investments | 2,215 | 1,002 | (4,348) | (6,609) |
| Net unrealized appreciation (depreciation) on affiliate investments | (6,156) | (3,851) | 8,711 | (13,374) |
| Deferred tax expense on net unrealized appreciation | (149) | (280) | (497) | (34) |
| Net loss on investments | (11,914) | (7,775) | (21,277) | (31,441) |
| Loss on extinguishment of debt | (310) | (492) | (440) | (492) |
| Net decrease in net assets resulting from operations | $(11,505) | $(5,327) | $(17,526) | $(22,245) |
| Loss per common share – basic and diluted | $(0.86) | $(0.40) | $(1.30) | $(1.66) |
| Basic and diluted weighted-average common shares outstanding | 13,398,078 | 13,398,078 | 13,398,078 | 13,398,078 |
Consolidated Statements of Changes in Net Assets (unaudited)
| Preferred Stock · Common Stock | |||||||
|---|---|---|---|---|---|---|---|
| Number ofshares | Parvalue | Number ofshares | Parvalue | Paid-incapital inexcess of par | Totalaccumulatedlosses | Total netassets | |
| Balances at December 31, 2024 | — | $— | 13,398,078 | $134 | $184,912 | $(12,821) | $172,225 |
| Net decrease in net assets resulting from operations: | |||||||
| Net investment income | — | — | — | — | — | 9,688 | 9,688 |
| Net realized loss on investments, net of taxes | — | — | — | — | — | (11,424) | (11,424) |
| Net unrealized depreciation on investments, net of deferred taxes | — | — | — | — | — | (20,017) | (20,017) |
| Loss on extinguishment of debt | — | — | — | — | — | (492) | (492) |
| Distributions declared | — | — | — | — | — | (13,666) | (13,666) |
| Net decrease for the nine month period ended September 30, 2025 | — | — | — | — | — | (35,911) | (35,911) |
| Balances at September 30, 2025 | — | $— | 13,398,078 | $134 | $184,912 | $(48,732) | $136,314 |
| Balances at June 30, 2025 | — | $— | 13,398,078 | $134 | $184,912 | $(38,850) | $146,196 |
| Net decrease in net assets resulting from operations: | |||||||
| Net investment income | — | — | — | — | — | 2,940 | 2,940 |
| Net realized loss on investments, net of taxes | — | — | — | — | — | (4,646) | (4,646) |
| Net unrealized depreciation on investments, net of deferred taxes | — | — | — | — | — | (3,129) | (3,129) |
| Loss on extinguishment of debt | — | — | — | — | — | (492) | (492) |
| Distribution declared | — | — | — | — | — | (4,555) | (4,555) |
| Net decrease for the three month period ended September 30, 2025 | — | — | — | — | — | (9,882) | (9,882) |
| Balances at September 30, 2025 | — | $— | 13,398,078 | $134 | $184,912 | $(48,732) | $136,314 |
| Balances at December 31, 2025 | — | $— | 13,398,078 | $134 | $174,195 | $(51,141) | $123,188 |
| Net decrease in net assets resulting from operations: | |||||||
| Net investment income | — | — | — | — | — | 4,191 | 4,191 |
| Net realized loss on investments, net of taxes | — | — | — | — | — | (25,143) | (25,143) |
| Net unrealized appreciation on investments, net of deferred taxes | — | — | — | — | — | 3,866 | 3,866 |
| Loss on extinguishment of debt | — | — | — | — | — | (440) | (440) |
| Distributions declared | — | — | — | — | — | (6,833) | (6,833) |
| Net decrease for the nine month period ended September 30, 2026 | — | — | — | — | — | (24,359) | (24,359) |
| Balances at September 30, 2026 | — | $— | 13,398,078 | $134 | $174,195 | $(75,500) | $98,829 |
| Balances at June 30, 2026 | — | $— | 13,398,078 | $134 | $174,195 | $(61,717) | $112,612 |
| Net decrease in net assets resulting from operations: | |||||||
| Net investment income | — | — | — | — | — | 719 | 719 |
| Net realized loss on investments, net of taxes | — | — | — | — | — | (7,824) | (7,824) |
| Net unrealized depreciation on investments, net of deferred taxes | — | — | — | — | — | (4,090) | (4,090) |
| Loss on extinguishment of debt | — | — | — | — | — | (310) | (310) |
| Distribution declared | — | — | — | — | — | (2,278) | (2,278) |
| Net decrease for the three month period ended September 30, 2026 | — | — | — | — | — | (13,783) | (13,783) |
| Balances at September 30, 2026 | — | $— | 13,398,078 | $134 | $174,195 | $(75,500) | $98,829 |
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