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AI brief of an SEC Form 8-K · Oxford Lane Capital Corp. (OXLC)

Oxford Lane Capital prices $87.0 million 6.75% Notes due 2031, to redeem 2023 preferred

Neutral Impact 4 of 5 financing Written later

Oxford Lane Capital Corp. issued $87.0 million of 6.75% Notes due 2031, with the deal closing on March 16, 2021. The company says it expects to use part of the proceeds to redeem all of its Series 2023 Term Preferred Shares, about $57.0 million outstanding as of December 31, 2020, on April 15, 2021. The shift replaces preferred stock with fixed-rate debt, which is a change in the company's capital structure that shareholders may want to note.

Key points

  • Notes: $87.0 million principal, 6.75% annual interest, maturing March 31, 2031, listed on NASDAQ as OXLCL from March 18, 2021
  • Underwriters have an option to buy up to an additional $13,000,000 of Notes within 30 days of March 9, 2021
  • All 2,281,395 Series 2023 Preferred Shares to be redeemed April 15, 2021 at $25.07291667 per share, including accrued dividends
  • Notes cannot be redeemed before March 16, 2024, except at the company's option under the 1940 Act

The filing

CompanyOxford Lane Capital Corp. (OXLC)
Form8-K, current report
Filed with the SECMar 16, 2021, 4:22 PM ET
Accession number0001213900-21-015719

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 16, 2021.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.