Oxford Lane to raise funds to finance senior secured loan investments

By Toni Weeks

San Diego, Jan. 7 - Oxford Lane Capital Corp. announced it will issue up to 2,522,077 shares upon exercise of subscription rights, according to a 497 filing with the Securities and Exchange Commission.

The non-diversified, closed-end management investment company seeks to maximize total return by investing primarily in senior secured loans made to companies whose debt is unrated or rated below investment grade, with an emphasis on current income.

The company is issuing nontransferable rights to stockholders of record as of 5 p.m. ET on Jan. 18. Stockholders will receive one right for each share of common stock held. The rights entitle holders to purchase one common share for every two rights held and must be exercised by 5 p.m. ET on Feb. 15.

Ladenburg Thalmann & Co. Inc. is the dealer-manager for the offering.

The subscription price is $14.50.

The sales load is 4%.

Jonathan H. Cohen, Saul B. Rosenthal, Darryl M. Monasebian and Hari Srinivasan comprise the investment team for Oxford Lane Management LLC, the Greenwich, Conn.-based investment adviser.

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