OHA Investment, Corp. (NASDAQ:OHAI) Announces Form 8-K Filing as Share Price Plummets

Specialty finance company designed to provide its investors with current income and capital appreciation, OHA Investment, Corp. (NASDAQ:OHAI), announces that it has filed a current report on Form 8-K, updating shareholders.

NEW YORK, Dec. 06, 2016 (GLOBE NEWSWIRE) — OHA Investment Corporation (OHAI) (the “Company”) today announced that it has filed a current report on Form 8-K to provide shareholders with updated information regarding two of the Company’s legacy portfolio investments that will likely have a negative impact on the fair value of those investments: (i) ATP Oil & Gas Corporation/Bennu Oil & Gas and (ii) OCI Holdings, LLC. 

For further information, please refer to the Form 8-K filed today with the Company’s SEC filings (available at www.sec.gov).          

About OHA Investment Corporation

OHA Investment Corporation (OHAI) is a specialty finance company designed to provide its investors with current income and capital appreciation. OHAI focuses primarily on providing creative direct lending solutions to middle market private companies across industry sectors. OHAI is externally managed by Oak Hill Advisors, L.P., a leading independent investment firm (www.oakhilladvisors.com). Oak Hill Advisors has deep experience in direct lending, having invested approximately $3.9 billion in over 120 direct lending investments over the past 13 years.

OHAI was formerly known as NGP Capital Resources Company prior to Oak Hill Advisors assuming the external manager role for the Company on September 30, 2014. OHAI has elected to be regulated as a business development company under the Investment Company Act of 1940.

Forward-Looking Statements

This press release may contain forward-looking statements. We may use words such as “anticipates,” “believes,” “intends,” “plans,” “expects,” “projects,” “estimates,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. These forward-looking statements are subject to various risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with the timing or likelihood of transaction closings, changes in interest rates, availability of transactions, the future operating results of our portfolio companies, regulatory factors, changes in regional, national, or international economic conditions and their impact on the industries in which we invest, other changes in the conditions of the industries in which we invest and other factors enumerated in our filings with the Securities and Exchange Commission (the “SEC”). You should not place undue reliance on such forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update our forward-looking statements made herein, unless required by law.

Persons considering an investment in OHA Investment Corporation should consider the investment objectives, risks, and charges and expenses of the Company carefully before investing. Such information and other information about us is available in our annual report on Form 10-K, in our quarterly reports on Form 10-Q and in our current reports on Form 8-K. Such materials are filed with the SEC and copies are available on the SEC’s website, www.sec.gov, and in the Investor Relations section of our website at www.ohainvestmentcorporation.com. Prospective investors should read such materials carefully before investing.

Original Source


Shares of OHA Investment, Corp. (NASDAQ:OHAI) are actively moving -27.76% thus far today on the news and have traded in the range of $1.87 – 2.35 during the session.  A number of research firms have recently weighed in on the stock, providing future price targets. The covering firms currently have a consensus one-year price target of $6.50 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  This is the average number from the individual targets provided by the firms.  Analysts are projecting earnings per share of $0.00 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $0.37 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading -33.12% away from its 50-day moving average of $2.84.  Based on the most recent available data, the equity is -57.11% off of its 52-week high of $4.43 and +2.98% away from its 52-week low which is $1.85.

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Today, the stock opened at $2.35 and the last bid at the time of writing stood at $1.90.  During the session thus far, the equity dipped down to $1.87 and touched $2.35 as the high point.  OHA Investment, Corp. (NASDAQ:OHAI) has seen an average daily volume of 19,027 over the past three months.

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