Oxford Lane Capital Corp. Announces Redemption of 7.50% Series 2023 Term Preferred Stock
February 11 2020 - 4:01PM
Oxford Lane Capital Corp. (the “Company”) (NasdaqGS: OXLC, OXLCO
and OXLCM) announced today that it has called for redemption and
will redeem on March 12, 2020 (the “Redemption Date”) 1,200,000 of
the issued and outstanding shares of the Company’s 7.50% Series
2023 Term Preferred Stock (the “Shares”), which is traded on the
NASDAQ Global Select Market under the ticker OXLCO, for a
redemption price of $25 per Share plus $0.05729167 in accrued but
unpaid dividends per Share to the Redemption Date, for a redemption
price of $25.05729167 per Share or an aggregate redemption price of
$30,068,750. The Shares will be redeemed from each holder of the
Shares pro rata based upon the number of outstanding Shares held by
such holder.
About Oxford Lane Capital
Corp.
Oxford Lane Capital Corp. is a publicly-traded
registered closed-end management investment company. It
currently seeks to achieve its investment objective of maximizing
risk-adjusted total return by investing in debt and equity tranches
of collateralized loan obligation (“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. 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, unless required to do so
by law.
Contact: Bruce Rubin 203-983-5280
Source: Oxford Lane Capital Corp.
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