Oxford Lane Capital Prices Preferred Stock Offering At $22.50 Per Share

(RTTNews) - Oxford Lane Capital Corp. (OXLC, OXLCP, OXLCO) has priced an underwritten public offering of 1.63 million shares of its 7.50 percent Series 2023 Term Preferred Stock at a public offering price of $22.50 per share, raising about $36.56 million in gross proceeds.

The company has granted the underwriters a 30-day option to purchase up to 243,750 additional shares of preferred stock on the same terms and conditions to cover over-allotments, if any.

The shares are expected to be delivered on November 20. The Series 2023 Term Preferred Stock is listed on the NASDAQ Global Select Market under the symbol "OXLCO."

The company plans to use the net proceeds of this offering for acquiring investments and for general working capital purposes.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., Barclays Capital Inc., and Deutsche Bank Securities Inc. are acting as the joint bookrunning managers for the offering.