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Oxford Lane Capital Corp., 7.50% Cumulative Series 2023 Term Preferred Shares
Ticker Symbol: OXLCO* CUSIP: 691543300 Exchange: NGS
* NOTE: This security is no longer trading as of 4/15/2021
Security has been Called for: Thursday, April 15, 2021
April 01, 2021 -- Oxford Lane Capital Corp. (the “Company”) (NasdaqGS: OXLC, OXLCO, OXLCM, OXLCP and OXLCL) announced today an update to the de-listing date of the Company’s 7.50% Series 2023 Term Preferred Stock (the “Shares”), which was previously announced in a press release issued on March 16, 2021 regarding the Company’s redemption of all of the issued and outstanding Shares. The Shares are currently traded on the NASDAQ Global Select Market under the ticker OXLCO. The Shares will continue to trade on the NASDAQ Global Select Market through April 14, 2021 and will be de-listed from the NASDAQ Global Select Market at the close of business on April 14, 2021. Holders of the Shares that own Shares as of the close of business on April 14, 2021 will be entitled to payment for such Shares on April 15, 2021.
All other terms of the redemption previously announced in the press release issued on March 16, 2021, including the redemption price of $25 per Share plus $0.07291667, which represents the accrued but unpaid dividends per Share from April 1, 2021 to, but excluding, the redemption date, April 15, 2021, will remain the same. March 16, 2021 -- Oxford Lane Capital Corp. (the “Company”) (NasdaqGS: OXLC, OXLCO, OXLCM and OXLCP) announced today that it has called for redemption and will redeem all of the issued and outstanding shares of the Company’s 7.50% Series 2023 Term Preferred Stock (the “Shares”), which are traded on the NASDAQ Global Select Market under the ticker OXLCO. The Company will redeem all 2,281,395 Shares on April 15, 2021 (the “Redemption Date”) for a redemption price of $25 per Share plus $0.07291667, which represents the accrued but unpaid dividends per Share from April 1, 2021 to, but excluding, the Redemption Date, for a redemption price of $25.07291667 per Share or an aggregate redemption price of $57,201,226.73. The Company has set April 1, 2021 as the record date for the redemption of the Shares. The Shares will be redeemed from each holder of the Shares pro rata based upon the number of outstanding Shares held by such holder.
The Shares will be de-listed from the NASDAQ Global Select Market on April 1, 2021. Holders of the Shares will not be entitled to receive distributions on the Shares after the Redemption Date. Any dividends previously declared by the Board which become due and payable after the Redemption Date have been rescinded by the Board in connection with the redemption of the Shares, including distributions to be paid on April 30, 2021 and May 28, 2021. Distributions with payment dates prior to the Redemption Date will be paid to holders of the Shares prior to the redemption. May 21, 2020 -- Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCO) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) (“Oxford Lane” or the “Company”) today announced that the Company's board of directors has authorized a program for the purpose of repurchasing up to $40 million worth of the outstanding shares of the Company's 7.50% Series 2023 Term Preferred Stock, 6.75% Series 2024 Term Preferred Stock and 6.25% Series 2027 Term Preferred Stock (collectively, the "Preferred Stock"). Under this repurchase program, the Company may, but is not obligated to, repurchase its outstanding Preferred Stock in the open market from time to time through September 30, 2020. The timing and number of preferred shares to be repurchased will depend on a number of factors, including market conditions and alternative investment opportunities. In addition, any repurchases will also be conducted in accordance with the Investment Company Act of 1940, as amended. There are no assurances that the Company will engage in any repurchases. Feb. 11, 2020 -- Oxford Lane Capital Corp. ( OXLC )
(the “Company”) (NasdaqGS: OXLC, OXLCO and OXLCM) announced today that it has called for redemption and will redeem on March 12, 2020 (the “Redemption Date”) 1,200,000 of the issued and outstanding shares of the Company’s 7.50% Series 2023 Term Preferred Stock (the “Shares”), which is traded on the NASDAQ Global Select Market under the ticker OXLCO, for a redemption price of $25 per Share plus $0.05729167 in accrued but unpaid dividends per Share to the Redemption Date, for a redemption price of $25.05729167 per Share or an aggregate redemption price of $30,068,750. The Shares will be redeemed from each holder of the Shares pro rata based upon the number of outstanding Shares held by such holder.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Oxford Lane Capital Corp., 7.50% Cumulative Series 2023 Term Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 6/30/2016 at $25 per share plus accrued and unpaid dividends, and maturing on 6/30/2023. Cumulative distributions of 7.50% per annum ($1.875 per annum or $0.15625 per month) will be paid monthly on on the last business day of each month to holders of record on the record date fixed by the board, not more than 20 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). If the issuer fails to maintain asset coverage of at least 200% as of the close of business on the last business day of a calendar quarter, a portion of the shares may become subject to mandatory redemption (see prospectus for further information). Dividends paid by this preferred security are generally NOT eligible for the preferential income tax rate and are also NOT eligible for the dividends received deduction for corporate holders (see page S-40 of the prospectus for further information). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (OXLC)
IPO - 6/14/2013 - 800,000 Shares @ $25.00 /share.
Link to IPO Prospectus
Market Value $18.9 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 8 Sound Shore Drive, Suite 255, Greenwich, CT 06830 |
Main Phone Number |
203-983-5275 |
Fax Number |
Not Available |
Investor Relations
Bruce Rubin
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203-983-5280
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CEO - Jonathan H. Cohen |
CFO - Bruce L. Rubin |
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