Oxford Lane Capital Corp. Prices Preferred Stock Offering
08 Junho 2022 - 8:11PM
Oxford Lane Capital Corp. (the “Company”) (Nasdaq GS: OXLC, OXLCM,
OXLCP, OXLCL, OXLCO and OXLCZ) today announced that it has priced
an underwritten public offering of 2,400,000 shares of its newly
designated 7.125% Series 2029 Term Preferred Shares (the “Preferred
Stock”) at a public offering price of $25 per share, raising
$60,000,000 in gross proceeds. The Company has also granted the
underwriters a 30-day option to purchase up to 360,000 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 16, 2022. 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 16, 2022.
The Company expects to use the net proceeds from this offering
to acquire investments in accordance with its investment objective
and strategies and/or for general working capital purposes.
Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and
William Blair & Company, L.L.C. are acting as joint
book-running managers for the offering and InspereX LLC and Wedbush
Securities Inc. are acting as lead managers for the
offering. This press release does not constitute an
offer to sell or the solicitation of an offer to buy the securities
in this offering or any other securities nor will there be any sale
of these securities or any other securities referred to in this
press release in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction.
A shelf registration statement relating
to these securities is on file with and has been declared effective
by the Securities and Exchange Commission. The offering of the
Preferred Stock may be made only by means of a prospectus and a
related prospectus supplement, copies of which may be obtained,
when available, from the following investment banks: Ladenburg
Thalmann, Attn: Syndicate Department, 640 Fifth Ave, 4th Floor, New
York, NY 10019, or by emailing prospectus@ladenburg.com (telephone
number 1-800-573-2541); B. Riley Securities, Inc., Attn: Prospectus
Department, 1300 17th Street North, Suite 1300, Arlington, VA 22209
or by e-mailing prospectuses@brileyfin.com (or by calling (800)
846-5050); and William Blair & Company, L.L.C., Attention:
Prospectus Department, 150 North Riverside Plaza, Chicago IL 60606,
or by telephone at 1-800-621-0687 or email at
prospectus@williamblair.com. The preliminary prospectus supplement,
dated June 8, 2022, and accompanying prospectus, dated June 1,
2020, each of which has been filed with the Securities and Exchange
Commission, contain a description of these matters and other
important information about the Company and
should be read carefully before investing. Investors are advised to
carefully consider the investment objectives, risks and charges and
expenses of the Company before investing.
About Oxford Lane Capital Corp.
Oxford Lane Capital Corp. is a publicly-traded registered
closed-end management investment company principally investing in
debt and equity tranches of CLO vehicles. CLO investments may also
include warehouse facilities, which are financing structures
intended to aggregate loans that may be used to form the basis of a
CLO vehicle.
Forward-Looking Statements
This press release contains forward-looking statements subject
to the inherent uncertainties in predicting future results and
conditions. Any statements that are not statements of historical
fact (including statements containing the words “believes,”
“plans,” “anticipates,” “expects,” “estimates” and similar
expressions) should also be considered to be forward-looking
statements. These statements are not guarantees of future
performance, conditions or results and involve a number of risks
and uncertainties, including the impact of COVID-19 and related
changes in base interest rates and significant market volatility on
our business, our CLO investments, our industry and the global
economy, as well as the market volatility resulting from the
conflict between Russia and Ukraine and the sanctions and other
restrictive actions taken by the U.S. and other countries against
Russia, which could adversely affect our business, financial
condition or results of operations. Certain factors could cause
actual results and conditions to differ materially from those
projected in these forward-looking statements. These factors are
identified from time to time in our filings with the Securities and
Exchange Commission. We undertake no obligation to update such
statements to reflect subsequent events, except as may be required
by law.
Contact:
Bruce Rubin203-983-5280
Oxford Lane Capital (NASDAQ:OXLCZ)
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