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Oxford Lane Capital Just Keeps Selling

Oxford Lane Capital (OXLC) just keeps selling common shares–now at 74 million shares in the period of 6/4/2020 to 11/8/2022. In total they have 159.2 million shares outstanding.

The company has to maintain a 200% asset coverage level for senior securities and the best way to insure this during times of falling asset values is to sell common shares on a continuous basis–and that is just what they do.

The closed end fund has ‘term’ preferreds and baby bonds outstanding.

Their most recent update is here.

One thought on “Oxford Lane Capital Just Keeps Selling”

  1. Does anyone have a feel for where Oxford’s Baby Bonds should be trading at? I would not mind picking up a few for a quick trade- holding the bonds as they re-rate. But I’m not comfortable with Oxford’s balance sheet- it’s very sketchy. Carrying CLOs on the balance sheet are like holding grenades with the pins pulled.

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