Oxford Lane to redeem all 8.125% preferreds via new stock offering

By Tali Rackner

Minneapolis, June 7 – Oxford Lane Capital Corp. plans to redeem all of its outstanding 8.125% series 2024 term preferred shares using the proceeds from a new preferred stock offering, according to a press release.

The 2024 shares are redeemable beginning June 30.

As of June 2, there was about $50.5 million of the shares outstanding.

Any remaining net proceeds will be used for acquiring investments in accordance with the company’s investment objective and strategies, for general working capital purposes and/or to redeem a portion of its outstanding 7.5% series 2023 term preferred shares, the release said.

Oxford Lane is a Greenwich, Conn.-based closed-end management investment company.

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