Oxford Lane announces preferred stock offering

Oxford Lane (OXLC) Capital Corp. plans to offer shares of its newly designated Series 2031 Term Preferred Shares in an underwritten public offering. The public offering price and other terms of the Preferred Stock are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 30-day option to purchase additional shares of Preferred Stock on the same terms and conditions to cover over-allotments, if any. The Preferred Stock is expected to be listed on the NASDAQ Global Select Market and to trade thereon within 30 days of the original issue date. The Company expects to use the net proceeds from this offering to repay outstanding indebtedness and/or for general working capital purposes. Lucid Capital Markets, LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering and Clear Street LLC, InspereX LLC and William Blair & Company, L.L.C. are acting as lead managers for the offering.