Oxford Lane Capital to sell monthly paying series 2023 preferreds; proceeds for investments

By Stephanie N. Rotondo

Phoenix, June 10 - Oxford Lane Capital Corp. will sell series 2023 preferred stock, the company said in a prospectus filed with the Securities and Exchange Commission on Monday.

Ladenburg Thalmann & Co. Inc. and MLV & Co. LLC are the joint bookrunning managers. Lead managers are Maxim Group LLC and National Securities Corp.

Henley & Co. is the co-manager.

Dividends will be payable monthly, beginning July 31. The preferreds are mandatorily redeemable on June 30, 2023 at par plus accrued dividends.

The preferreds are also redeemable in the event the firm's asset coverage ratio falls below 200%.

Oxford will apply to list the new securities on the Nasdaq Global Select Market.

Proceeds will be used for investments and general corporate purposes.

Oxford Capital is a Greenwich, Conn.-based closed-end, externally managed non-diversified investment company.

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