Business
Oxford Square Capital Corp. Announces Transferable Rights Offering
GREENWICH, Conn., May 10, 2023 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NASDAQ: OXSQ) (“we,” “us,” “our,” “OXSQ” or the “Company”) announced today
About this update from Oxford Square Capital Corp.
[{"type":"text","content":"GREENWICH, Conn., May 10, 2023 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NASDAQ: OXSQ) (“we,” “us,” “our,” “OXSQ” or the “Company”) announced today that its Board of Directors has approved the terms of a transferable rights offering to purchase shares of its common stock. Ladenburg Thalmann & Co. Inc. will act as the Dealer Manager for the offering. The Company will issue to stockholders of record as of 5:00 p.m., New York City time, on May 23, 2023 transferable rights to subscribe for an aggregate of up to 16,633,723 shares of the Company’s common stock. Each record date stockholder will be issued one transferable right for every three shares of the Company’s common stock owned on the record date. The rights entitle each holder to acquire at the subscription price one share of the Company’s common stock for every right held (the “Primary Subscription”). An application has been submitted for the rights to be listed for trading on the Nasdaq Global Select Market under the symbol “OXSQR” with trading anticipated to begin on or around May 26, 2023. Rights may be exercised at any time during the subscription period, which commences on May 24, 2023, and ends at 5:00 p.m., New York City time, on June 14, 2023, the expiration date, unless the subscription period is extended by the Company (the “Expiration Date”). Record date stockholders who fully exercise all rights issued to them are entitled to subscribe for additional shares of the Company’s common stock that were not subscribed for by other holders in the Primary Subscription, on the terms and subject to the conditions that will be set forth in the prospectus for this offering, including as to pro-ration. In addition, any rights holders who were not record date stockholders who exercise rights are entitled to subscribe for such additional shares that are not otherwise subscribed for by record date stockholders pursuant to their over-subscription privilege, on terms and subject to the conditions that will be set forth in the prospectus for this offering, including as to pro-ration. These over-subscription privileges are referred to as the “Over-Subscription Privilege”. Members of senior management of the Company, who own approximately 3.26 million shares of the Company’s common stock, have indicated that they intend to fully exercise their Primary Subscription rights. The su...