Oxford Lane Capital offers $25-par preferred stock due 2029

Chicago, June 8 – 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 June 30, 2029 but may be redeemed at par at any time on or after June 30, 2025.

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. and William Blair & Co., LLC are the joint bookrunners.

InspereX LLC and Wedbush Securities Inc. are lead managers.

Eversheds Sutherland (US) LLP is working as counsel for Oxford Lane. Blank Rome LLP is advising the underwriters.

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. The company invests in the lower-rated and equity tranches of collateralized loan obligations.

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