Oxford Lane raises $35.8M in preferred stock sale to trim debt
What's the deal? Oxford Lane Capital Corp.Dealroom has a profile for this one. Try Dealroom → has priced an underwritten public offering of 1,440,000 shares of its 8.25% Series 2031 Term Preferred Shares at $24.85 each, raising $35,784,000 in gross proceeds. The Greenwich, Connecticut, closed-end fund invests mainly in debt and equity tranches of collateralised loan obligation (CLO) vehicles. It expects to use the net proceeds to repay outstanding debt and for general working capital.
Why now? The sale adds to the same series Oxford Lane first issued on March 20, 2026, lifting the total outstanding to 4,200,000 shares. Earlier in the year, it moved to redeem 2.8 million shares of older 6.25% Series 2027 preferred stock, swapping cheaper capital for the new issue.
How it works: The new shares carry the same terms and CUSIP as the existing stock and trade on the Nasdaq Global Select Market under "OXLCM." Underwriters hold a 30-day option to buy up to 216,000 additional shares to cover over-allotments. Delivery was expected on October 23, 2026.
Who's involved? Piper Sandler & Co.Dealroom has a profile for this one. Try Dealroom → and Lucid Capital Markets are joint book-running managers. A.G.P./Alliance Global PartnersDealroom has a profile for this one. Try Dealroom → and InspereX are lead managers.
The signal: At $35.8 million, the raise sits near the small end of comparable deals. The 8.25% dividend underscores the rising cost of capital, and the offering reads more as a balance-sheet move than a growth round.
Read more: Business Insider
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