Oxford Lane Capital Corp. Announces Redemption of 7.50% Series 2023 Term Preferred Stock

GREENWICH, Conn., Feb. 11, 2020 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (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.

About Oxford Lane Capital Corp.

Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company.  It currently seeks to achieve its investment objective of maximizing risk-adjusted total return by investing in debt and equity tranches of collateralized loan obligation (“CLO”) vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.

Forward-Looking Statements

This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission.  We undertake no obligation to update such statements to reflect subsequent events, unless required to do so by law.

Contact:
Bruce Rubin
203-983-5280

Source: Oxford Lane Capital Corp.