GREENWICH, Conn., June 08, 2022 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (the “Company”) (Nasdaq GS: OXLC, OXLCM, OXLCP, OXLCL, OXLCO and OXLCZ) today announced that it has priced a public offering of 2,400,000 shares of its Series 2029 Term Preferred Shares 7.125% shares (the “Preferred Shares”) at a public offering price of $25 per share, raising gross proceeds of $60,000,000. The Company has also granted the underwriters a 30-day option to purchase up to 360,000 additional preferred shares on the same terms and conditions to cover over-allotments, if any. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on June 16, 2022. The Company has applied for listing of the preferred shares on the NASDAQ Global Select Market and expects trading to begin within the 30 days following June 16, 2022.

The Company intends to use the net proceeds of this offering to acquire investments in accordance with its investment objectives and strategies and/or for general working capital purposes.

Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and William Blair & Company, LLC are acting as joint bookrunners for the offering and InspereX LLC and Wedbush Securities Inc. are acting as lead managers for the offer.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities of this offer or any other securities, and there will be no sale of these securities or any other securities mentioned in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

A shelf registration statement relating to these securities is filed with and has been declared effective by the Securities and Exchange Commission. The offering of Preferred Shares may only be made by means of a prospectus and related prospectus supplement, copies of which may be obtained, when available, from the following investment banks: Ladenburg Thalmann, Attn: Syndicate Department, 640 Fifth Ave, 4th Floor, New York, NY 10019, or by email [email protected] (phone number 1-800-573-2541); B. Riley Securities, Inc., Attn: Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, VA 22209 or by email [email protected] (or by calling (800) 846-5050); and William Blair & Company, LLC, Attention: Prospectus Department, 150 North Riverside Plaza, Chicago IL 60606, or by phone at 1-800-621-0687 or by email at [email protected] The preliminary prospectus supplement, dated June 8, 2022, and the accompanying prospectus, dated June 1, 2020, each filed with the Securities and Exchange Commission, contain a description of these matters and other important information. on the Company and should be read carefully before investing. Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing.

About Oxford Lane Capital Corp.

Oxford Lane Capital Corp. is a publicly traded closed-end management investment company that invests primarily in debt and equity tranches of CLO vehicles. CLO investments can also include warehouses, which are financing structures intended to pool loans that can be used to form the basis of a CLO vehicle.

Forward-looking statements

This press release contains forward-looking statements subject to the uncertainties inherent in predicting future results and conditions. All statements that are not statements of historical fact (including statements containing the words “believes”, “plans”, “anticipates”, “expects”, “estimates” and similar expressions) should also be considered as forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in base interest rates and the significant market volatility on our business, our CLO investments, our industry and the global economy, as well as market volatility resulting from the conflict between Russia and Ukraine and the sanctions and other restrictive measures taken by the United States and other countries against Russia, which could adversely affect our business, financial condition or results of operations. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update these statements to reflect subsequent events, except as required by law.

Contact:

Bruce Rubin
203-983-5280