CLO (collateralized debt obligations) owner Oxford Lane Capital Company (OXLC) updated their ‘at the money’ stock sales today.
From 6/4/2020 to 12/3/2021 41.2 million shares have been sold leaving the company with 122.8 million shares outstanding.
When OXLC went public in January 2011 they sold around 2 million shares for $20/share– now the common shares trade at $7.82.
Honestly I just love how they are able to continually sell common shares–it creates the ‘coverage ratio’ on their leverage providing holders of ‘senior securities’ (debt and/or preferred stock) a level of safety.
Disclosure– I own OXLC securities.