Business
Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended September 30, 2019
Declares Common Stock Distributions for the Months Ending January 31, February 29, and March 31, 2020 GREENWICH, Conn., Oct. 30, 2019 (GLOBE NEWSWIRE) --
About this update from Oxford Square Capital Corp.
[{"type":"text","content":"Declares Common Stock Distributions for the Months Ending January 31, February 29, and March 31, 2020\nGREENWICH, Conn., Oct. 30, 2019 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQL) (NasdaqGS: OXSQZ) (“OXSQ,” the “Company,” “we,” “us” or “our”) announced today its financial results and related information for the quarter ended September 30, 2019.\n As of September 30, 2019, net asset value (“NAV”) per share was $5.42, compared with the NAV per share of $6.31 at the prior quarter end. ◊ For the quarter ended September 30, 2019 we recorded GAAP net investment income of approximately $8.9 million, or $0.19 per share, compared to $12.8 million, or $0.27 per share for the quarter ended June 30, 2019.◊ We recorded net realized losses of approximately $0.4 million and net unrealized depreciation of approximately $41.6 million for the quarter ended September 30, 2019.◊ In total, we had a net decrease in net assets resulting from operations of approximately $33.1 million, or $0.69 per share, for the quarter ended September 30, 2019, compared with a net decrease in net assets resulting from operations of $7.5 million, or $0.16 per share, for the quarter ended June 30, 2019. Total investment income for the third quarter of 2019 amounted to approximately $14.1 million, which represents a decrease of approximately $6.8 million from the second quarter of 2019. This decrease primarily reflects the one-time recognition of payment-in-kind cumulative dividends associated with a preferred equity position of $5.7 million in the second quarter of 2019. For the quarter ended September 30, 2019, we recorded investment income from our portfolio as follows: ◊ $7.1 million from our debt investments,◊ $6.1 million from our collateralized loan obligation (“CLO”) equity investments,◊ $0.7 million of dividend income – PIK from affiliated investments, and◊ $0.2 million from all other sources. Our total expenses for the quarter ended September 30, 2019 were approximately $5.1 million, which represents a decrease of approximately $3.0 million from the second quarter of 2019 due primarily to a decrease in net investment income incentive fees. During the third quarter of 2019, we received, or were entitled to receive, proceeds of approximately $4.9 million from sales of senior secured loans, and $0.2 million from repayments and...