Oxford Lane Capital Prices New Term Preferred Shares

The official paperwork has NOT been filed with the SEC at this time, but Oxford Lane Capital (OXLC) has announced partial details of their previously announced new offering of term preferred stock.

The new issue of 2.4 million shares (with another 360,000 for over allotment) prices with a coupon of 6.0%.

The permanent ticker will be OXLCO on NASDAQ–caution this is a re-use of a previous ticker which was called in April, 2021.

The shares are cumulative, non qualified (they are organized as a RIC – registered investment company and pay little or no federal tax at the company level). The issue will have a mandatory redemption in 2029.

This issue will trade on the OTC grey market, but the ticker has not yet been announced.

The company press release can be found here.

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