Oxford Lane Capital to price $25-par term preferred shares due 2029

By Marisa Wong

Los Angeles, Aug. 9 – Oxford Lane Capital Corp. plans to price an offering of series 2029 $25-par term preferred stock, according to a 424B5 filing with the Securities and Exchange Commission.

The preferreds mature on Aug. 31, 2029 but may be redeemed at par at any time on or after Aug. 31, 2024.

The preferreds are also callable if the company fails to maintain an asset coverage ratio of at least 200%.

Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc., InspereX LLC and William Blair & Co., LLC are the joint bookrunners.

Compass Point Research & Trading, LLC and Wedbush Securities Inc. are the lead managers.

The company plans to use proceeds for acquiring investments in accordance with its investment objective and strategies and for general working capital purposes.

Oxford Lane is a Greenwich, Conn.-based closed-end management investment company.

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