Oxford Lane Capital Raises $60M in 8.25% Series 2031 Preferred Offering
Oxford Lane Capital priced 2.4 million shares of its 8.25% Series 2031 Term Preferred at $25 each, raising $60 million in gross proceeds. It granted underwriters a 30-day option on 360,000 additional shares and will use net proceeds to repay debt and fund working capital.
1. Preferred Stock Offering
Oxford Lane Capital priced an underwritten public offering of 2,400,000 shares of 8.25% Series 2031 Term Preferred Shares at $25 per share, generating $60,000,000 in gross proceeds. The company granted underwriters a 30-day option to purchase up to 360,000 additional shares on the same terms, with closing and share delivery expected on March 20, 2026.
2. Use of Proceeds and Listing Plans
Net proceeds are earmarked to repay outstanding indebtedness, which may include existing preferred stock or unsecured notes, and for general working capital purposes. Oxford Lane Capital has applied to list the new preferred shares on the NASDAQ Global Select Market, with trading expected to commence within 30 days after closing.