PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, April 19, 2:47 PM
| This Slide: #97 of 620 |
Slide #97. Oxford Lane Capital Corp. — Preferred Stock Offering
Company:
Oxford Lane Capital Corp. (NASDAQ:OXLC)
Date announced:
6/8/2022
Shares Offered:
2,400,000
Date of Pricing:
6/8/2022
Price Per Share:
$25.00
Preferred Stock Offering Details:
Oxford Lane Capital Corp. (the "Company") (Nasdaq GS: OXLC, OXLCM, OXLCP, OXLCL, OXLCO and OXLCZ) today announced that it plans to offer shares of its newly designated Series 2029 Term Preferred Shares (the "Preferred Stock") in an underwritten public offering. The public offering price and other terms of the Preferred Stock are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 30-day option to purchase additional shares of Preferred Stock on the same terms and conditions to cover over-allotments, if any. The Company has applied to list the Preferred Stock on the NASDAQ Global Select Market and expects trading to commence thereon within 30 days after the date of initial delivery of the Preferred Stock. -updated 6/8- Oxford Lane Capital Corp. (the Company) (Nasdaq GS: OXLC, OXLCM, OXLCP, OXLCL, OXLCO and OXLCZ) today announced that it has priced an underwritten public offering of 2,400,000 shares of its newly designated 7.125% Series 2029 Term Preferred Shares (the Preferred Stock) at a public offering price of $25 per share, raising $60,000,000 in gross proceeds. The Company has also granted the underwriters a 30-day option to purchase up to 360,000 additional shares of Preferred Stock on the same terms and conditions to cover over-allotments, if any. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on June 16, 2022. The Company has applied to list the Preferred Stock on the NASDAQ Global Select Market and expects trading to commence thereon within 30 days after June 16, 2022.
Oxford Lane Capital is a closed-end management investment company. The Fund's investment objective is to maximize its portfolio's risk adjusted total return, and seeks to achieve its investment objective by investing in structured finance investments, specifically the equity and junior debt tranches of collateralized loan obligation vehicles, which are collateralized primarily by a diverse portfolio of Senior Loans, and which generally have very little or no exposure to real estate loans, or mortgage loans or to pools of consumer-based debt, such as credit card receivables or auto loans.
Preferreds: OXLCM, OXLCP, OXLCO, OXLCN
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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