Oxford Square Capital Reports Q2 NAV of $1.29, $17.8M ATM Dilution, and $0.035 Monthly Distributions
OXSQ sits 45% above its 52-week low of $1.05 on light trading volume (0.4× avg).
Summary
Oxford Square Capital reported Q2 2026 NAV of $1.29 per share, issued 11.3M shares via ATM for $17.8M in net proceeds, and declared $0.035 monthly distributions for Q4 2026.
Key Events · Earnings and Guidance · OXSQ
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NAV Declines to $1.29
Net asset value per share fell to $1.29 as of June 30, 2026, down from $1.32 on March 31, 2026, reflecting $5.2M in realized losses and ongoing dilution.
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ATM Issuance Adds 11.3M Shares
The company issued 11.3 million shares via its at-the-market program during Q2, raising $17.8M in net proceeds but increasing shares outstanding to 105.1M — roughly 12% dilution.
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Distributions Maintained at $0.035/Month
Board declared monthly distributions of $0.035 per share for October, November, and December 2026, unchanged from prior quarters but not fully covered by NII of $0.05/share.
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Net Investment Income of $5.1M
NII was $5.1M or $0.05 per share, up from $4.1M last quarter, driven by higher investment income of $9.4M and lower expenses.
Analysis · OXSQ · Unknown
Oxford Square Capital's Q2 results show a continued decline in NAV per share to $1.29 from $1.32 last quarter, driven by $5.2M in realized losses partially offset by $4.1M in unrealized gains. The company issued 11.3M shares via its ATM program, raising $17.8M but diluting existing shareholders by roughly 12% — a significant capital raise that extends the runway but pressures NAV per share. Distributions were maintained at $0.035/month, but the payout is not covered by NII of $0.05/share, relying on capital returns. The stock trades at $1.32, just above NAV, reflecting market skepticism about the sustainability of the dividend and the impact of ongoing dilution.
At the time of this filing, OXSQ was trading at $1.52 on NASDAQ in the Unknown sector, with a market capitalization of approximately $151.3M. The 52-week trading range was $1.05 to $2.42. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.