GREENWICH, Conn., April 29, 2026 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQG) (NasdaqGS: OXSQH) (the "Company," "we," "us" or "our") announced today its financial results and related information for the quarter ended March 31, 2026.
-- On April 27, 2026, our Board of Directors declared the following
distributions on our common stock:
Month Ending Record Date Payment Date Amount Per Share
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July 31, 2026 July 17, 2026 July 31, 2026 $0.035
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August 31, 2026 August 17, 2026 August 31, 2026 $0.035
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September 30, 2026 September 16, 2026 September 30, 2026 $0.035
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-- Net asset value ("NAV") per share as of March 31, 2026 stood at $1.32,
compared with a NAV per share on December 31, 2025 of $1.69.
-- Net investment income ("NII") was approximately $4.1 million, or $0.05
per share, for the quarter ended March 31, 2026, compared with
approximately $5.4 million, or $0.07 per share, for the quarter ended
December 31, 2025.
-- Total investment income for the quarter ended March 31, 2026 amounted to
approximately $8.9 million, compared with approximately $10.4 million for
the quarter ended December 31, 2025.
-- For the quarter ended March 31, 2026 we recorded investment income
from our portfolio as follows:
-- $5.1 million from our debt investments;
-- $3.2 million from our CLO equity investments; and
-- $0.6 million from other income.
-- Our total expenses for the quarter ended March 31, 2026 were
approximately $4.8 million, compared with total expenses of approximately
$5.0 million for the quarter ended December 31, 2025.
-- As of March 31, 2026, the following metrics applied (note that none of
these metrics represented a total return to shareholders):
-- The weighted average yield of our debt investments was 14.7% at
current cost, compared with 14.5% as of December 31, 2025;
-- The weighted average effective yield of our CLO equity investments
at current cost was 7.3%, compared with 8.6% as of December 31,
2025;
-- The weighted average cash distribution yield of our cash income
producing senior secured note investments at current cost was 8.0%,
compared with 9.5% as of December 31, 2025; and
-- The weighted average cash distribution yield of our cash income
producing CLO equity investments at current cost was 13.6%,
compared with 14.2% as of December 31, 2025.
-- For the quarter ended March 31, 2026, we recorded a net decrease in net
assets resulting from operations of approximately $25.5 million,
consisting of:
-- NII of approximately $4.1 million;
-- Net realized losses of approximately $30.7 million; and
-- Net unrealized appreciation of approximately $1.1 million.
-- During the first quarter of 2026, our investment activity consisted of
purchases of approximately $15.8 million and repayments of approximately
$0.4 million. No sales were made during the quarter.
-- Our weighted average credit rating was 2.2 based on total fair value and
2.4 based on total principal amount as of March 31, 2026, compared with a
weighted average credit rating of 2.2 based on total fair value and 2.3
based on total principal amount as of December 31, 2025.
-- As of March 31, 2026, we had one debt investment on non-accrual status,
with a fair value of approximately $3.5 million. Also, as of March 31,
2026, our preferred equity investments in one of our portfolio companies
were on non-accrual status, which had an aggregate fair value of
approximately $5.2 million.
-- For the quarter ended March 31, 2026, we issued a total of approximately
7.2 million shares of common stock pursuant to an "at-the-market"
offering. After deducting the sales agent's commissions and offering
expenses, this resulted in net proceeds of approximately $12.3 million.
As of March 31, 2026, we had approximately 93.4 million shares of common
stock outstanding.
We will hold a conference call to discuss first quarter results today, Wednesday, April 29(th) , 2026 at 9:00 AM ET. The toll-free dial-in number is 1-800-715-9871, access code number 2511724. There will be a recording available for 30 days. If you are interested in hearing the recording, please dial 1-800-770-2030. The replay pass-code is 2511724#.
A presentation containing further detail regarding our quarterly results of operations has been posted under the Investor Relations section of our website at www.oxfordsquarecapital.com.
OXFORD SQUARE CAPITAL CORP.
STATEMENTS OF ASSETS AND LIABILITIES
March 31, December 31,
2026 2025
--------------------------------- -------------- ----------------
(Unaudited)
--------------------------------- -------------- ----------------
ASSETS
Non-affiliated/non-control
investments (cost:
$372,980,864 and $390,403,599,
respectively) $ 235,372,463 $ 251,731,345
Cash equivalents (cost of
$40,637,084 and $51,236,068,
respectively) 40,637,084 51,236,068
Cash 287,628 698,579
Interest and distributions
receivable 1,531,132 2,002,161
Other assets 1,029,174 1,070,958
------------ ------------
Total assets $ 278,857,481 $ 306,739,111
============ ============
LIABILITIES
Notes payable -- 5.50%
Unsecured Notes, net of
deferred issuance costs of
$901,010 and $996,075
respectively $ 79,598,990 $ 79,503,925
Notes payable -- 7.75%
Unsecured Notes, net of
deferred issuance costs of
$2,480,628 and $2,621,662
respectively 72,269,372 72,128,338
Securities purchased not
settled -- 5,944,969
Accrued interest payable 1,703,438 1,703,438
Accrued expenses 1,030,008 1,017,581
Base Fee and Net Investment
Income Incentive Fee payable
to affiliate 990,631 1,036,058
------------ ------------
Total liabilities 155,592,439 161,334,309
------------ ------------
NET ASSETS
Common stock, $0.01 par value,
100,000,000 shares authorized;
93,449,336 and 86,060,964
shares issued and outstanding,
respectively 934,494 860,610
Capital in excess of par value 535,621,842 523,040,484
Total distributable
earnings/(accumulated losses) (413,291,294) (378,496,292)
------------ ------------
Total net assets 123,265,042 145,404,802
------------ ------------
Total liabilities and net
assets $ 278,857,481 $ 306,739,111
============ ============
Net asset value per common share $ 1.32 $ 1.69
OXFORD SQUARE CAPITAL CORP.
STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Three Months
Ended Ended
March 31, March 31,
2026 2025
----------------------------------- ------------- ---------------
INVESTMENT INCOME
From non-affiliated/non-control
investments:
Interest income -- debt
investments((1) $ 4,318,750 $ 4,826,404
Interest income -- debt
investments -- payment-in-kind
("PIK")((1) 786,922 708,351
Income from securitization
vehicles and investments 3,224,198 3,956,053
Other income 612,808 670,242
----------- -----------
Total investment income from
non-affiliated/non-control
investments 8,942,678 10,161,050
----------- -----------
Total investment income 8,942,678 10,161,050
----------- -----------
EXPENSES
Interest expense 2,791,255 1,959,287
Base Fee 990,631 1,058,785
Professional fees 346,627 323,452
Compensation expense 246,930 239,577
General and administrative 312,666 355,259
Excise tax 104,778 120,816
----------- -----------
Total expenses before incentive
fees 4,792,887 4,057,176
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