PreferredStockChannel
Oxford Lane Capital Corp | 8.50% Preferred Stock Series 2017 (OXLCP)

Prospectus excerpt:  We are offering 600,000 shares of our 8.50% Series 2017 preferred stock, or the ˘Series 2017 Term Preferred Shares.÷ We will pay monthly dividends on the Series 2017 Term Preferred Shares at an annual rate of 8.50% of the $25 liquidation preference per share, or $2.125 per Series 2017 Term Preferred Share per year, on the last business day of each month, commencing on December 31, 2012.

We are required to redeem all of the outstanding Series 2017 Term Preferred Shares on December 31, 2017 at a redemption price equal to $25 per share plus an amount equal to accumulated but unpaid dividends, if any, to the date of redemption. We cannot effect any amendment, alteration or repeal of our obligation to redeem all of the Series 2017 Term Preferred Shares on December 31, 2017 without the prior unanimous consent of the holders of Series 2017 Term Preferred Shares. If we fail to maintain an asset coverage ratio of at least 200% (as described in this prospectus supplement), we will redeem a portion of the outstanding Series 2017 Term Preferred Shares in an amount at least equal to the lesser of (1) the minimum number of shares of Series 2017 Term Preferred Shares necessary to cause us to meet our required asset coverage ratio and (2) the maximum number of Series 2017 Term Preferred Shares that we can redeem out of cash legally available for such redemption. At any time on or after December 31, 2014, at our sole option, we may redeem the Series 2017 Term Preferred Shares at a redemption price per share equal to the sum of the $25 liquidation preference per share plus an amount equal to accumulated but unpaid dividends, if any, on the Series 2017 Term Preferred Shares.

Each holder of our Series 2017 Term Preferred Shares (and any other preferred stock we may issue in the future) will be entitled to one vote for each share held by such holder on any matter submitted to a vote of our stockholders, and the holders of all of our outstanding preferred stock and common stock will vote together as a single class. The holders of the Series 2017 Term Preferred Shares (together with any other preferred stock we may issue in the future), voting separately as a class, will elect at least two of our directors and, upon failure to pay dividends for at least two years, will elect a majority of our directors.

The Series 2017 Term Preferred Shares will rank equally in right of payment with all other shares of preferred stock that we may issue and will rank senior in right of payment to all of our common stock.

Full Prospectus PDF », OXLC Page »

Series:2017
Redeemable?:Yes
Call Date:12/31/2014 (Now Trading Post Call Date)
Maturity Date:12/31/2017
Cumulative?:Yes
Shares Offered:600,000
Overallotment:90,000
Liquidation Preference:$25
Recent Market Price:$24.90
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-0.10 (-0.40%)
Annualized Dividend:1.5625
Recent Ex-Date:12/16/2021
Current Yield:6.28%
Original Coupon:8.50%
Pay Period:Monthly
CDx3 Compliance Rating: Learn OXLCP's Rating
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.

Preferred: OXLCP


Open the OXLC Information Page »
Name: 
Oxford Lane Capital Corp
Website: 
www.oxfordlanecapital.com
Sector: 
Investment Companies & Venture Capital
Number of ETFs Holding OXLC: 
1 (see which ones)
Total Market Value Held by ETFs: 
$337,019
Total Market Capitalization: 
$16,000,000
% of Market Cap. Held by ETFs: 
2.11%

Quotes delayed 20 minutes

Email EnvelopeFree Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

Oxford Lane Capital Corp | 8.50% Preferred Stock Series 2017 (OXLCP) Information Page | Preferred Stock Channel | www.PreferredStockChannel.com

Copyright © 2010 - 2021, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.