Oxford Lane Capital Corp. Prices Preferred Stock Offering

GREENWICH, Conn., June 08, 2022 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (the “Company”) (Nasdaq GS: OXLC, OXLCM, OXLCP, OXLCL, OXLCO and OXLCZ) today announced that it has priced an underwritten public offering of 2,400,000 shares of its newly designated 7.125% Series 2029 Term Preferred Shares (the “Preferred Stock”) at a public offering price of $25 per share, raising $60,000,000 in gross proceeds. The Company has also granted the underwriters a 30-day option to purchase up to 360,000 additional shares of Preferred Stock on the same terms and conditions to cover over-allotments, if any. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on June 16, 2022. The Company has applied to list the Preferred Stock on the NASDAQ Global Select Market and expects trading to commence thereon within 30 days after June 16, 2022.

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