Shareholders purchase two common shares at $1.50 apiece for each right
By Devika Patel
Knoxville, Tenn., March 4 - Oxford Lane Capital Corp. said it completed a $68.36 million oversubscribed rights offering on March 3. Deutsche Bank Securities and Ladenburg Thalmann & Co. Inc. were the managers.
The company sold rights for 4,021,373 common shares at $17.00 per share, which is a 3.96% discount to the Feb. 28 closing share price of $17.70. Stockholders received one right for every share held. Holders may purchase one new share for every two rights held.
Proceeds will be used to acquire new investments and for general working capital purposes.
Oxford 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.
| Issuer: | Oxford Lane Capital Corp.
|
| Issue: | Common stock
|
| Amount: | $68,363,341
|
| Shares: | 4,021,373
|
| Price: | $17.00
|
| Warrants: | No
|
| Managers: | Deutsche Bank Securities and Ladenburg Thalmann & Co. Inc.
|
| Settlement date: | March 3
|
| Stock symbol: | Nasdaq: OXLC
|
| Stock price: | $17.70 at close Feb. 28
|
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