Oxford Lane Plans Preferred Stock Offering To Redeem Existing Preferred Shares; No Terms Disclosed

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Oxford Lane Capital ( OXLC ), a management investment company, said late Monday it plans to issue long-term preferred shares in a public offering, with terms currently undetermined. Underwriters will get a 30-day option to purchase additional shares.

The company said it intends to use offering proceeds to redeem about $50.5 million of 8.125% series 2024 term preferred shares, the entire outstanding amount. If excess funds are raised, other preferred share issues outstanding may be redeemed also.

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This article appears in: Investing , ETFs
Referenced Symbols: OXLC

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