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Oxford Lane Capital Repurchases Preferred Stock, Cures Asset Coverage Deficiency

Oxford Lane Capital ( OXLC ), an investment company, said it has repurchased 609,537 shares of its Series 2023 preferred stock and 2,712 shares of its Series 2024 preferred stock under a program announced in March.

The fund may continue repurchasing its outstanding preferred stock in the open market through August 1. There are roughly 3 million shares of its Series 2023 and 2 million shares of its Series 2024 preferred stock outstanding.

As a result of the repurchases, the fund has cured its prior non-compliance with the asset coverage requirement in its preferred stock governing documents.

Shares of OXLC are at $8.08.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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