Oxford Lane to Offer Series 2031 Term Preferred Shares with Over-Allotment Option
Oxford Lane Capital Corp. plans an underwritten offering of Series 2031 Term Preferred Shares with a 30-day over-allotment option. The shares are expected to list on the NASDAQ Global Select Market within 30 days, and net proceeds will repay debt and fund general working capital.
1. Preferred Offering Details
Oxford Lane Capital Corp. is launching an underwritten public offering of its newly designated Series 2031 Term Preferred Shares. The company and underwriters will negotiate public offering price and terms, and underwriters hold a 30-day option to purchase additional shares to cover overallotments.
2. Listing and Use of Proceeds
The Series 2031 preferred shares are slated to list and trade on the NASDAQ Global Select Market within 30 days of issuance. Net proceeds from the offering will be used to repay outstanding indebtedness and support general working capital needs.