Oxford Lane Prices $35.8M 8.25% Term Preferred Offering at $24.85/Share

summarizeSummary

Oxford Lane priced 1,440,000 shares of 8.25% Series 2031 term preferred at $24.85, raising about $35.8 million gross ($34.7 million net) with settlement October 23, 2026. The new preferred adds an 8.25% monthly dividend obligation ahead of common shareholders. The shares are a further issuance of the existing 8.25% Series 2031 preferred, bringing total shares outstanding to 4,200,000 with the same CUSIP as the March 2026 issue, and net proceeds will repay outstanding indebtedness and/or fund general working capital.

check_boxKey Events · Financing and Capital Events · OXLC

• New · Oct 22 · GlobeNewswire

  Underwriting Syndicate Named

  Piper Sandler & Co. and Lucid Capital Markets, LLC are joint book-running managers; A.G.P./Alliance Global Partners and InspereX LLC are lead managers.

• Updated · Oct 22 · GlobeNewswire

  Further Issuance of Series 2031 Preferred Priced at $24.85

  1,440,000 shares of 8.25% Series 2031 Term Preferred Stock priced at $24.85 per share, settling October 23, 2026, listed on NASDAQ as OXLCM. The offering is a further issuance of the existing 8.25% Series 2031 preferred, bringing total shares outstanding to 4,200,000 with the same CUSIP as the March 2026 issue.

• Updated · Oct 22 · GlobeNewswire

  Gross and Net Proceeds, Use of Net Proceeds

  Gross proceeds of about $35.8 million (1,440,000 x $24.85), or $35,784,000 from 1,440,000 shares at $24.85 per share; net proceeds to the issuer of $34,665,750 before expenses after a $1,118,250 underwriting discount. Net proceeds are to repay outstanding indebtedness and/or for general working capital purposes.

• Updated · Oct 22 · GlobeNewswire

  Over-Allotment Option on Same Terms

  Up to 216,000 additional shares may be sold within 30 days on the same terms and conditions to cover over-allotments, if any, which would add roughly $5.4 million gross (216,000 x $24.85) if fully exercised.

• 8.25% Dividend Obligation

  8.25% annual rate on a $25.00 liquidation preference ($2.0625 per share), paid monthly beginning November 30, 2026 — a fixed cash charge ranking ahead of common dividends.

auto_awesomeAnalysis · OXLC · Unknown

Oxford Lane is raising roughly $35.8 million (1,440,000 shares x $24.85) through a further issuance of its existing 8.25% Series 2031 term preferred stock, settling October 23, 2026, with net proceeds of about $34.7 million before expenses. Because this is preferred equity rather than common stock, it does not directly dilute common shareholders' share count, and because it carries the same CUSIP as the March 2026 issue it adds to that series rather than creating a new one, bringing total shares outstanding to 4,200,000. Still, the 8.25% monthly dividend on a $25 liquidation preference represents a real, recurring cash obligation that ranks ahead of common dividends, and the stated use of net proceeds is to repay outstanding indebtedness and/or for general working capital purposes. For a closed-end fund trading near its 52-week low, layering on a high-cost perpetual-style preferred raises the fixed-charge burden and could pressure common distributions if portfolio returns disappoint. Pricing at $24.85 against a $25.00 liquidation preference reflects a modest 0.6% discount to par, normal for a term preferred with an underwriting syndicate led by Piper Sandler & Co. and Lucid Capital Markets, LLC as joint book-running managers, with A.G.P./Alliance Global Partners and InspereX LLC as lead managers.