Oxford Lane greenshoe lifts 7.5% term preferreds to $39.77 million

By Toni Weeks

San Luis Obispo, Calif., Nov. 18 - Underwriters for Oxford Lane Capital Corp.'s 7.5% series 2023 term preferred shares partially exercised their over-allotment option, lifting the issue to $39,774,825 in a reopening.

The company priced 1,625,000 of the preferreds at $22.50 each on Nov. 13 and then tapped 142,770 of the 243,750 greenshoe shares on Nov. 18. The company originally sold $20 million of the preferreds on June 30.

Ladenburg Thalmann & Co. Inc., Barclays and Deutsche Bank Securities Inc. are the joint bookrunners.

Proceeds will be used for investments and general working capital purposes.

Oxford Capital is a Greenwich, Conn.-based closed-end, externally managed non-diversified investment company. It invests in securitization vehicles that, in turn, primarily invest in senior secured loans made to companies whose debt is unrated or is rated below investment grade.

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