Preferred Stock Offerings
By Ru Back Packer Staff, updated Thursday, February 1, 9:20 AM
Slide #53. Oxford Lane Capital Corp. — Preferred Stock Offering
||Oxford Lane Capital Corp. (NASDAQ:OXLC)
|Date of Pricing:
|Price Per Share:
|Preferred Stock Offering Details:
||Oxford Lane Capital Corp. (the "Company") (NASDAQ: OXLC) (NASDAQ: OXLCO) (NASDAQ: OXLCN) today announced that it has priced an underwritten public offering of 2,500,000 shares of its newly designated 6.75% Series 2024 Term Preferred Shares (the "Preferred Stock") at a public offering price of $25 per share, raising $62.5 million in gross proceeds. The Company has also granted the underwriters a 30-day option to purchase up to 375,000 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 14, 2017. 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 14, 2017 under the symbol "OXLCM."
Oxford Lane Capital is a non-diversified closed-end management investment company that has registered as an investment company under the 1940 Act. Co.'s investment objective is to maximize its portfolio's total return and seeks to achieve its investment objective by investing primarily in senior secured loans and the equity and junior debt tranches of collateralized loan obligation vehicles. As of Mar 31 2017, the Trust had total assets of $377,117,936 and the market value of its investment portfolio was $356,755,459.
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