Oxford Lane Capital Corp. Buyback
OLI recorded this information on 5/21/2020
Company: |
Oxford Lane Capital Corp. |
Buyback: |
OXLC buyback |
$Amount Authorized: |
$40,000,000 |
Buyback Details: |
Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCO) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) ("Oxford Lane" or the "Company") today announced that the Company's board of directors has authorized a program for the purpose of repurchasing up to $40 million worth of the outstanding shares of the Company's 7.50% Series 2023 Term Preferred Stock, 6.75% Series 2024 Term Preferred Stock and 6.25% Series 2027 Term Preferred Stock (collectively, the "Preferred Stock"). Under this repurchase program, the Company may, but is not obligated to, repurchase its outstanding Preferred Stock in the open market from time to time through September 30, 2020. The timing and number of preferred shares to be repurchased will depend on a number of factors, including market conditions and alternative investment opportunities. In addition, any repurchases will also be conducted in accordance with the Investment Company Act of 1940, as amended. There are no assurances that the Company will engage in any repurchases. |
Oxford Lane Capital is a closed-end management investment company. The Fund's investment objective is to maximize its portfolio's risk adjusted total return, and seeks to achieve its investment objective by investing in structured finance investments, specifically the equity and junior debt tranches of collateralized loan obligation vehicles, which are collateralized primarily by a diverse portfolio of Senior Loans, and which generally have very little or no exposure to real estate loans, or mortgage loans or to pools of consumer-based debt, such as credit card receivables or auto loans.
Preferreds: OXLCM, OXLCP, OXLCO, OXLCN
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