GREENWICH, Conn., April 01, 2021 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (the “Company”) (NasdaqGS: OXLC, OXLCO, OXLCM, OXLCP and OXLCL) announced today an update to the de-listing date of the Company’s 7.50% Series 2023 Term Preferred Stock (the “Shares”), which was previously announced in a press release issued on March 16, 2021 regarding the Company’s redemption of all of the issued and outstanding Shares. The Shares are currently traded on the NASDAQ Global Select Market under the ticker OXLCO. The Shares will continue to trade on the NASDAQ Global Select Market through April 14, 2021 and will be de-listed from the NASDAQ Global Select Market at the close of business on April 14, 2021. Holders of the Shares that own Shares as of the close of business on April 14, 2021 will be entitled to payment for such Shares on April 15, 2021.

All other terms of the redemption previously announced in the press release issued on March 16, 2021, including the redemption price of $25 per Share plus $0.07291667, which represents the accrued but unpaid dividends per Share from April 1, 2021 to, but excluding, the redemption date, April 15, 2021, will remain the same.

About Oxford Lane Capital Corp.

Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company. It currently seeks to achieve its investment objective of maximizing risk-adjusted total return by investing in debt and equity tranches of collateralized loan obligation (“CLO”) vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.

Forward-Looking Statements

This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any 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 to be 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 significant market volatility on our business, our portfolio companies, our industry and the global economy. 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 such statements to reflect subsequent events, except as may be required by law.

Contact:
Bruce Rubin
203-983-5280

Source: Oxford Lane Capital Corp.