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Oxford Square Capital (OXSQ) - 2025 Q2 - Earnings Call Presentation
2025-08-07 13:00
Oxford Square Capital Corp. Investor Presentation Quarter Ended June 30, 2025 Disclaimer "Company"). This presentation is neither an offer to sell, nor a solicitation of an offer to purchase, any securities of Oxford Square Capital Corp. ("OXSQ" or the This presentation and the summaries contained herein do not purport to be complete and no obligation to update or otherwise revise such information is being assumed. Nothing shall be relied upon as a promise or representation as to the future performance of t ...
Oxford Square Capital (OXSQ) - 2025 Q2 - Quarterly Results
2025-08-07 12:31
Exhibit 99.1 · Net asset value ("NAV") per share as of June 30, 2025 stood at $2.06, compared with a NAV per share on March 31, 2025 of $2.09. · Net investment income ("NII") was approximately $5.5 million, or $0.08 per share, for the quarter ended June 30, 2025, compared with approximately $6.1 million, or $0.09 per share, for the quarter ended March 31, 2025. · Total investment income for the quarter ended June 30, 2025 amounted to approximately $9.5 million, compared with approximately $10.2 million for ...
Oxford Square Capital Corp. Schedules Second Quarter 2025 Earnings Release and Conference Call for August 7, 2025
GlobeNewswire News Room· 2025-08-04 13:49
Group 1 - Oxford Square Capital Corp. will hold a conference call to discuss second quarter 2025 earnings on August 7, 2025, at 9:00 AM Eastern time [1] - The toll-free dial-in number for the conference call is 1-800-549-8228, and the conference identification number is 03418 [1] - A recording of the call will be available for 30 days after the event, with the replay pass-code number being 03418 [1] Group 2 - Oxford Square Capital Corp. is a publicly-traded business development company that primarily invests in syndicated bank loans [2] - The company also invests in debt and equity tranches of collateralized loan obligation (CLO) vehicles, including warehouse facilities [2] - Warehouse facilities are financing structures designed to aggregate loans that may be used to form the basis of a CLO vehicle [2]
Oxford Square Capital Corp. Prices Public Offering of $65 Million 7.75% Notes Due 2030
GlobeNewswire News Room· 2025-08-01 12:00
GREENWICH, Conn., Aug. 01, 2025 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQG) (NasdaqGS: OXSQZ) (the “Company”) today announced that it has priced an underwritten public offering of $65 million in aggregate principal amount of 7.75% unsecured notes due 2030. The notes will mature on July 31, 2030, and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after July 31, 2027. The notes will bear interest at a rate of 7.75% per ...
Oxford Square Capital Corp. Announces Offering of Notes
Globenewswire· 2025-07-31 11:48
GREENWICH, Conn., July 31, 2025 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQG) (NasdaqGS: OXSQZ) (the “Company”) today announced the commencement of a registered public offering of notes (the “Notes”). The public offering price and other terms of the Notes are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 30-day option to purchase additional Notes on the same terms and conditions to cover over ...
OXSQ Bonds Outshine CION: Why This 8% Yield Deserves Investor Attention
Seeking Alpha· 2025-06-05 21:15
Group 1 - The article highlights the focus on closed-end funds and the importance of timing in trades related to market price deviations [1] - A small fraction of BDC bonds currently offers yields to worst above 8%, with the article focusing on two notable exceptions [2] - The investing group Trade With Beta provides features such as frequent picks for mispriced preferred stocks and baby bonds, along with weekly reviews of over 1200 equities [2]
Oxford Square Capital (OXSQ) Loses 7.5% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner
ZACKS· 2025-05-26 14:35
Oxford Square Capital Corp. (OXSQ) has been on a downward spiral lately with significant selling pressure. After declining 7.5% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spottin ...
Preferreds Weekly Review: A Redemption And A New Issue
Seeking Alpha· 2025-05-26 01:01
Core Viewpoint - The article provides an overview of the preferred stock and baby bond market, highlighting both individual news and broader market trends, while emphasizing the expertise of the ADS Analytics team in generating income ideas from various security types [1]. Group 1: Market Overview - The preferred stock and baby bond market is analyzed from both a bottom-up and top-down perspective, focusing on individual events and overall market conditions [1]. Group 2: Analyst Expertise - ADS Analytics consists of analysts with extensive experience in research and trading at leading global investment banks, specializing in income-generating ideas across different security types, including CEFs, ETFs, mutual funds, BDCs, and individual preferred stocks and baby bonds [1].
Oxford Square Capital: A Dividend Trap With An Unjustified Risk-Reward Profile
Seeking Alpha· 2025-05-23 11:04
Group 1 - Mr. Mavroudis is a professional portfolio manager with expertise in institutional and private portfolios, focusing on risk management and financial market analysis [1] - He has successfully navigated major crises, including the COVID-19 pandemic and the PSI, demonstrating resilience in portfolio management [1] - Mr. Mavroudis is the CEO of FAST FINANCE Investment Services, a registered Greek company, and holds multiple advanced degrees and certifications in finance and law [1] Group 2 - The article emphasizes the importance of engaging with a community of investors and market enthusiasts through platforms like Seeking Alpha [1]
Oxford Square Capital (OXSQ) - 2025 Q1 - Quarterly Report
2025-04-30 22:24
[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) Presents the unaudited financial statements and management's discussion and analysis for the first quarter of 2025 [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited financial statements for Q1 2025, showing a decrease in net assets to $148.9 million and NAV per share to $2.09 [Statements of Assets and Liabilities](index=4&type=section&id=Statements%20of%20Assets%20and%20Liabilities) Reports total assets of $285.5 million and net assets of $148.9 million as of March 31, 2025, with NAV per share declining to $2.09 Statements of Assets and Liabilities (Unaudited) | Metric | March 31, 2025 ($) | December 31, 2024 ($) | | :--- | :--- | :--- | | **Total Assets** | 285,490,638 | 299,730,974 | | **Total Liabilities** | 136,608,328 | 139,065,494 | | **Total Net Assets** | 148,882,310 | 160,665,480 | | **Net Asset Value (NAV) per Share** | 2.09 | 2.30 | [Schedule of Investments (as of March 31, 2025)](index=5&type=section&id=Schedule%20of%20Investments%20as%20of%20March%2031%2C%202025%20%28Unaudited%29) Details the investment portfolio with a fair value of $243.2 million, primarily in Senior Secured Notes (60.6%) and CLO Equity (37.5%) Portfolio Composition by Fair Value (March 31, 2025) | Investment Type | Fair Value ($) | % of Net Assets | | :--- | :--- | :--- | | Senior Secured Notes | 147,337,396 | 99.0% | | CLO Equity Investments | 91,331,433 | 61.3% | | Common Stock | 622,538 | 0.4% | | Preferred Stock | 3,890,986 | 2.6% | | **Total Investments** | **243,182,353** | **163.3%** | - The total cost of investments was **$359.6 million**, resulting in a net unrealized depreciation of **$116.4 million**[26](index=26&type=chunk) - The portfolio includes affiliated investments in UniTek Global Services, Inc. with a fair value of approximately **$3.9 million**[34](index=34&type=chunk) [Schedule of Investments (as of December 31, 2024)](index=17&type=section&id=Schedule%20of%20Investments%20as%20of%20December%2031%2C%202024) Presents the investment portfolio as of December 31, 2024, with a fair value of $260.9 million, primarily in Senior Secured Notes (57.8%) and CLO Equity (40.1%) Portfolio Composition by Fair Value (December 31, 2024) | Investment Type | Fair Value ($) | % of Net Assets | | :--- | :--- | :--- | | Senior Secured Notes | 150,686,777 | 93.8% | | CLO Equity Investments | 104,594,232 | 65.1% | | Common Stock | 957,750 | 0.6% | | Preferred Stock | 4,614,100 | 2.9% | | **Total Investments** | **260,852,859** | **162.4%** | [Statements of Operations](index=30&type=section&id=Statements%20of%20Operations) Reports total investment income of $10.2 million and a net decrease in net assets from operations of $8.1 million for Q1 2025 Operational Results (Three Months Ended March 31) | Metric | 2025 ($) | 2024 ($) | | :--- | :--- | :--- | | Total Investment Income | 10,161,050 | 10,677,424 | | Total Expenses | 4,057,176 | 4,139,868 | | **Net Investment Income** | **6,103,874** | **6,537,556** | | Net Realized Losses | (12,158,495) | (8,094,940) | | Net Change in Unrealized Depreciation | (2,066,896) | (211,006) | | **Net Decrease in Net Assets from Operations** | **(8,121,517)** | **(1,768,390)** | | Net Investment Income per Share | 0.09 | 0.11 | | Net Decrease in Net Assets from Operations per Share | (0.12) | (0.03) | [Statements of Changes in Net Assets](index=31&type=section&id=Statements%20of%20Changes%20in%20Net%20Assets) Details a $11.8 million decrease in net assets for Q1 2025, ending at $148.9 million, driven by operational losses and distributions Changes in Net Assets (Three Months Ended March 31) | Metric | 2025 ($) | 2024 ($) | | :--- | :--- | :--- | | Net Decrease from Operations | (8,121,517) | (1,768,390) | | Distributions to Stockholders | (7,349,702) | (6,263,108) | | Net Increase from Capital Share Transactions | 3,688,049 | 1,062,696 | | **Total Decrease in Net Assets** | **(11,783,170)** | **(6,968,802)** | | Net Assets at Beginning of Period | 160,665,480 | 151,308,625 | | **Net Assets at End of Period** | **148,882,310** | **144,339,823** | [Statements of Cash Flows](index=32&type=section&id=Statements%20of%20Cash%20Flows) Shows net cash provided by operating activities of $6.0 million and a net increase in cash and cash equivalents of $2.3 million for Q1 2025 Cash Flow Summary (Three Months Ended March 31) | Activity | 2025 ($) | 2024 ($) | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | 5,987,857 | 20,293,981 | | Net Cash Used in Financing Activities | (3,661,653) | (5,127,844) | | **Net Increase in Cash and Cash Equivalents** | **2,326,204** | **15,166,137** | | Cash and Cash Equivalents, Beginning of Period | 34,926,468 | 5,740,553 | | **Cash and Cash Equivalents, End of Period** | **37,252,672** | **20,906,690** | [Notes to Financial Statements](index=33&type=section&id=Notes%20to%20Financial%20Statements%20%28Unaudited%29) Provides detailed explanations of accounting policies, investment valuation, borrowings, related party transactions, and financial highlights [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=62&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2025 financial condition and results, covering investment objectives, portfolio changes, income drivers, and liquidity [Overview](index=63&type=section&id=Overview) Outlines the company's investment objective to maximize total return through corporate debt and CLO investments as a BDC and RIC - The primary investment focus is on corporate debt securities and CLO investments to seek an attractive risk-adjusted total return[217](index=217&type=chunk) - As of March 31, 2025, the weighted average annualized yield on debt investments was approximately **14.31%**[219](index=219&type=chunk)[221](index=221&type=chunk) - The company utilizes leverage, which magnifies potential gains and losses, exposing it to increased risk[222](index=222&type=chunk) [Portfolio Composition and Investment Activity](index=66&type=section&id=Portfolio%20Composition%20and%20Investment%20Activity) Details the investment portfolio's decrease to $243.2 million, driven by sales and losses, with new acquisitions partially offsetting Portfolio Reconciliation (in millions) | | Three Months Ended March 31, 2025 ($) | | :--- | :--- | | Beginning investment portfolio | 260.9 | | Portfolio investments acquired | 16.0 | | Debt repayments | (8.7) | | Sales of securities | (10.7) | | Reductions to CLO equity cost value | (1.7) | | Net change in unrealized depreciation | (2.1) | | Net realized losses on investments | (12.2) | | **Ending investment portfolio** | **243.2** | Portfolio Composition by Asset Class (Fair Value) | Asset Class | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Senior Secured Notes | $147.3M (60.6%) | $150.7M (57.8%) | | CLO Equity | $91.3M (37.5%) | $104.6M (40.1%) | | Equity and Other Investments | $4.5M (1.9%) | $5.6M (2.1%) | | **Total** | **$243.2M (100.0%)** | **$260.9M (100.0%)** | - As of March 31, 2025, qualifying assets under the 1940 Act represented **67.1%** of total assets, below the **70.0%** requirement to acquire new non-qualifying assets[247](index=247&type=chunk) [Portfolio Grading](index=69&type=section&id=Portfolio%20Grading) Describes the debt portfolio's credit grading, with a weighted average grade of 2.2 and **81.4%** of fair value in Grade 2 Debt Portfolio Grading (by Fair Value, March 31, 2025) | Grade | Summary Description | Fair Value ($M) | % of Debt Portfolio | | :--- | :--- | :--- | :--- | | 1 | Ahead of expectations | — | —% | | 2 | Full repayment expected | 119.9 | 81.4% | | 3 | Closer monitoring required | 27.4 | 18.6% | | 4 | Loss of interest expected | — | —% | | 5 | Loss of principal expected | — | —% | | **Total** | | **147.3** | **100.0%** | [Results of Operations](index=70&type=section&id=Results%20of%20Operations) Analyzes Q1 2025 operational results, showing decreased investment income of $10.2 million and a net decrease in net assets of $8.1 million Investment Income Components (Three Months Ended March 31) | Income Source | 2025 ($) | 2024 ($) | | :--- | :--- | :--- | | Total Interest Income | 5,534,755 | 6,421,047 | | Income from Securitization | 3,956,053 | 3,932,374 | | Total Other Income | 670,242 | 324,003 | | **Total Investment Income** | **10,161,050** | **10,677,424** | - As of March 31, 2025, the company had no debt investments on non-accrual status, compared to six investments on non-accrual status in the prior year[258](index=258&type=chunk) - Net realized losses for Q1 2025 were approximately **$12.2 million**. Net unrealized depreciation was **$2.1 million**, with significant depreciation in CLO investments like BlueMountain CLO XXXI and Dryden 43, partially offset by appreciation in Alvaria, Inc[271](index=271&type=chunk)[272](index=272&type=chunk) [Liquidity and Capital Resources](index=74&type=section&id=Liquidity%20and%20Capital%20Resources) Details liquidity with $37.3 million cash, $125.3 million in debt, and an asset coverage ratio of **218%** as of March 31, 2025 - Cash and cash equivalents increased to **$37.3 million** from **$34.9 million** at year-end 2024[278](index=278&type=chunk) Contractual Obligations (as of March 31, 2025) | Contractual obligations (in millions) | Principal Amount ($) | Less than 1 year ($) | 1 – 3 years ($) | 3 – 5 years ($) | | :--- | :--- | :--- | :--- | :--- | | 6.25% Unsecured Notes | 44.8 | — | 44.8 | — | | 5.50% Unsecured Notes | 80.5 | — | — | 80.5 | | **Total** | **125.3** | **—** | **44.8** | **80.5** | - The company's asset coverage ratio for borrowed amounts was **218%** as of March 31, 2025, exceeding the required **150%**[283](index=283&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=81&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Discusses the company's primary exposure to interest rate risk and provides a sensitivity analysis on investment income Hypothetical Impact of Interest Rate Changes on Investment Income | Hypothetical Change in Base Rates | Estimated Percentage Change in Investment Income | | :--- | :--- | | Up 300 basis points | 13.5% | | Up 200 basis points | 9.0% | | Up 100 basis points | 4.5% | | Down 100 basis points | (4.5)% | | Down 200 basis points | (8.9)% | | Down 300 basis points | (13.2)% | - The company may use hedging instruments like futures and options in the future to mitigate interest rate risk, though none are currently in use[302](index=302&type=chunk) [Controls and Procedures](index=81&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were effective as of the end of the period[305](index=305&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended March 31, 2025[307](index=307&type=chunk) [PART II. OTHER INFORMATION](index=83&type=section&id=PART%20II.%20OTHER%20INFORMATION) Provides disclosures on legal proceedings, risk factors, equity sales, and other general information [Legal Proceedings](index=83&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material legal proceedings - As of the report date, the company is not subject to any material legal proceedings[310](index=310&type=chunk) [Risk Factors](index=83&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors were reported for the quarter - No material changes to risk factors were reported for the three months ended March 31, 2025[311](index=311&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=83&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details the issuance of 87,090 common shares valued at $223,000 through the distribution reinvestment plan in Q1 2025 - Issued **87,090** shares of common stock valued at approximately **$223,000** under the distribution reinvestment plan during Q1 2025[312](index=312&type=chunk) - No common stock was repurchased by the Company during the three months ended March 31, 2025[313](index=313&type=chunk) [Defaults Upon Senior Securities](index=83&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities were reported - None[314](index=314&type=chunk) [Other Information](index=83&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 trading plans during the fiscal quarter - No directors or officers adopted or terminated any Rule 10b5-1 trading plans during the quarter[316](index=316&type=chunk) [Exhibits](index=84&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the report, including CEO and CFO certifications