Oxford Square Capital Raises $65 Million with 7.75% Unsecured Notes Offering

Oxford Square Capital has priced a $65 million public offering of 7.75% unsecured notes due 2030. The notes will mature on July 31, 2030, and may be redeemed in whole or in part at Oxford Square's option at any time prior to maturity. Proceeds from the offering will be used to repay outstanding borrowings under Oxford Square's credit facility and for general corporate purposes.

Oxford Square Capital Corp. (OXSQ) has priced a $65 million public offering of 7.75% unsecured notes due 2030. The notes, which will mature on July 31, 2030, and may be redeemed in whole or in part at Oxford Square's option at any time prior to maturity, are expected to close on August 7, 2025 [1].

The notes will bear interest at a rate of 7.75% per year, payable quarterly on January 31, April 30, July 31, and October 31 of each year, commencing October 31, 2025. The company has granted the underwriters an option to purchase up to an additional $9.75 million in aggregate principal amount of notes. The notes are expected to be listed on the NASDAQ Global Select Market and to trade thereon within 30 days of the original issue date under the trading symbol “OXSQH” [1].

The proceeds from the offering will be used to repay existing debt, make new investments aligned with the company's objectives, and for general corporate purposes. Oxford Square Capital Corp. is a publicly-traded business development company principally investing in syndicated bank loans and, to a lesser extent, debt and equity tranches of collateralized loan obligation (CLO) vehicles [2].

Lucid Capital Markets, LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering, while Clear Street LLC, InspereX LLC, Janney Montgomery Scott LLC, and William Blair & Company, L.L.C. are acting as lead managers for the offering [1].

References:
[1] https://www.morningstar.com/news/globe-newswire/9504604/oxford-square-capital-corp-prices-public-offering-of-65-million-775-notes-due-2030
[2] https://www.stocktitan.net/news/OXSQ/