Oxford Square Prices $65 Mln Offering Of 7.75% Notes
(RTTNews) - Oxford Square Capital Corp. (OXSQ), a publicly-traded business development company, on Friday announced the pricing of a $65 million underwritten public offering of 7.75% unsecured notes due July 31, 2030. The offering is expected to close on August 7.
The company plans to use the net proceeds from the offering to repay debt, fund new investments aligned with its stated objectives and strategies, and for general corporate purposes.
Interest on the notes will be payable quarterly, beginning October 31, with subsequent payments to be made on January 31, April 30, July 31, and October 31 of each year.
The company has also granted the underwriters a 30-day option to purchase up to an additional $9.75 million in notes.
The notes are expected to be listed on the NASDAQ Global Select Market and begin trading within 30 days of the issue date under the symbol "OXSQH."
In the pre-market trading, Oxford Square Capital Corp is 2.17% lesser at $2.2794 on the Nasdaq.
