Investment Portfolio - As of September 30, 2025, the fair value of the Company's investment portfolio was approximately $260.5 million[245] - The total fair value of the investment portfolio as of September 30, 2025, was approximately $260.5 million, a slight decrease from $260.9 million as of December 31, 2024[256] - As of September 30, 2025, the company had investments in debt securities or loans to 19 portfolio companies, with a fair value of approximately $142.0 million[262] - The fair value of senior secured notes was $142.0 million, representing 54.5% of the total portfolio as of September 30, 2025[265] - The company’s CLO equity investments increased to approximately $113.2 million as of September 30, 2025, from $104.6 million as of December 31, 2024[265] Investment Strategy - The investment strategy includes seeking attractive risk-adjusted total returns primarily through corporate debt securities and CLOs[236] - The Company generally expects to invest between $5 million and $25 million in each portfolio company[238] Debt Investments - The weighted average annualized yield on debt investments was approximately 14.60% as of September 30, 2025[239] - Debt investments had stated interest rates ranging from 6.91% to 12.75% with maturity dates between 2 and 94 months[239] - The weighted average yield on debt investments was approximately 14.60% as of September 30, 2025, compared to 14.50% in 2024[278] - The weighted average stated interest rate on all of the company's debt outstanding as of September 30, 2025, was 6.58%[305] Financial Performance - Total investment income for the three months ended September 30, 2025, was approximately $10.2 million, a decrease of 1.0% from $10.3 million for the same period in 2024[274] - For the nine months ended September 30, 2025, total investment income was approximately $29.9 million, down 7.9% from $32.5 million in 2024[276] - Interest income for the three months ended September 30, 2025, was approximately $5.2 million, a decrease of 15.7% from $6.1 million in 2024[274] - Net investment income for the three months ended September 30, 2025, was approximately $5.6 million, down 9.7% from $6.2 million in 2024[294] - The net decrease in net assets resulting from operations for the three months ended September 30, 2025, was approximately $2.1 million, compared to a decrease of $0.9 million in 2024[296] - For the nine months ended September 30, 2025, the company recognized net realized losses on investments of approximately $14.5 million[292] - The company reported net realized losses on investments of approximately $14.5 million for the nine months ended September 30, 2025, compared to $96.2 million for the year ended December 31, 2024[258] Cash and Capital Management - As of September 30, 2025, cash and cash equivalents were approximately $50.8 million, an increase from approximately $34.9 million as of December 31, 2024[299] - For the nine months ended September 30, 2025, net cash used in operating activities was approximately $15.6 million, reflecting purchases of investments of approximately $86.2 million[299] - The company raised approximately $27.4 million from the issuance of common stock through its ATM program during the nine months ended September 30, 2025[302] - The total amount of capital raised net of underwriting fees and offering costs was approximately $26.9 million during the nine months ended September 30, 2025[302] Debt Obligations and Risks - The company has contractual obligations of $155.3 million, with $80.5 million due within one year and $74.8 million due in 1-3 years[300] - The company is exposed to leverage risks due to borrowing funds for investments, which may magnify potential gains and losses[241] - The company is subject to financial market risks, including changes in interest rates, which can affect net interest income and investment portfolio value[326] - A hypothetical increase of 300 basis points in base rates could lead to a 13.2% increase in net investment income[329] Regulatory and Compliance - The Company operates as a closed-end management investment company and is regulated as a business development company (BDC)[236] - The company is required to distribute at least 90% of its ordinary income and short-term capital gains to avoid corporate level tax[309] - The investment advisory agreement is with Oxford Square Management, which is controlled by Oxford Funds[315] - The company has implemented policies to screen transactions for potential conflicts of interest with related parties[321] - The company has adopted a Code of Business Conduct and Ethics to avoid conflicts of interest among its officers and directors[322] - The allocation policy for investment opportunities among affiliated entities is based on various factors, including cash availability and investment size[318] - The company has applied for a new exemptive relief order to allow for negotiated co-investment transactions alongside certain regulated funds[320] Distributions and Shareholder Actions - Total distributions for fiscal 2024 are projected at $0.42 per share, with a total of $0.105 per share declared for each quarter[324] - The company has authorized a share repurchase program allowing for the repurchase of up to $25.0 million of common stock over a 12-month period starting October 30, 2025[324] Operating Expenses - Operating expenses for the three months ended September 30, 2025, increased to approximately $4.7 million, up 11.9% from $4.2 million in 2024[280] - The principal value of income-producing debt investments decreased to approximately $180.6 million as of September 30, 2025, from $209.6 million in 2024[278]

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Financial Data and Key Metrics Changes - For Q3 2025, the company's net investment income was approximately $5.6 million, or $0.07 per share, compared to approximately $5.5 million, or $0.08 per share, in the prior quarter [4] - The net asset value per share decreased to $1.95 from $2.06 in the prior quarter [4] - Total investment income for the third quarter was approximately $10.2 million, up from approximately $9.5 million in the prior quarter [4] - The company recorded combined net unrealized and realized losses on investments of approximately $7.5 million, or $0.09 per share, compared to losses of approximately $1.1 million, or $0.01 per share, in the prior quarter [4] Business Line Data and Key Metrics Changes - Investment activity included purchases of approximately $58.1 million and repayments of approximately $31.3 million during the quarter [5] - The company issued approximately 5.4 million shares of common stock, resulting in net proceeds of approximately $11.8 million [5] - Issued $74.8 million of 7.75% unsecured notes due July 2030 and fully repaid $34.8 million of 6.25% unsecured notes due April 2026 [5] Market Data and Key Metrics Changes - U.S. loan market performance was stable, with loan prices slightly decreasing from 97.07% of par to 97.06% of par [6] - The 12-month trailing default rate for the loan index increased to 1.47% from 1.11% at the end of June [6] - The distress ratio ended the quarter at 2.88%, down from 3.06% at the end of June [7] - U.S. leveraged loan primary market issuance was $133.7 billion, representing a 22% increase compared to the same quarter in the previous year [7] Company Strategy and Development Direction - The company focuses on portfolio management strategies designed to maximize long-term total return, taking a longer-term view towards investment strategy [7] - The company is considering additional purchases in CLO equity and junior debt tranches, which will be accompanied by appropriate levels of sales [16] Management's Comments on Operating Environment and Future Outlook - Management noted that the cash and equivalents balance increased to $51 million, primarily due to timing from ATM issuances [17] - The company is running a relatively lightly leveraged portfolio, which is a consideration for improving net investment income [19] Other Important Information - The board of directors declared monthly distributions of $0.035 per share for January, February, and March of 2026 [5] Q&A Session Summary Question: What types of investments were found attractive during the quarter? - The company purchased CLO equity pieces from top-tier managers, focusing on steady, predictable cash flow [12] - On the loan side, the focus was on higher quality credits with lower spreads and opportunistic trades in less liquid names [13][16] Question: What is the outlook for potential new additions in Q4? - The company anticipates focusing more on the secondary market for leveraged loans, capturing opportunities at par or below [16] Question: What is the reason for the increase in cash and equivalents? - The increase is primarily attributed to timing related to ATM issuances [17] Question: Has there been consideration for a reverse stock split? - The company is continuously considering viable ideas, including a reverse stock split [18] Question: What levers are available to improve the run rate of net investment income? - The company is considering its lightly leveraged portfolio as one element to improve net investment income [19]

Oxford Square Capital Corp. Investor Presentation Quarter Ended September 30, 2025 Past performance is not indicative of future results. In addition, there can be no assurance that unrealized gains/losses will be realized at the expected multiples shown since actual realized returns will depend on, among other factors, the future operating results of each of the Company's current portfolio companies, the value of the assets and economic conditions at the time of disposition, any related transaction costs, a ...

Financial Performance - Net investment income (NII) for the quarter ended September 30, 2025, was approximately $5.6 million, or $0.07 per share, compared to $5.5 million, or $0.08 per share, for the previous quarter[1] - Total investment income for the quarter was approximately $10.2 million, an increase from approximately $9.5 million in the prior quarter[1] - Total expenses for the quarter were approximately $4.7 million, up from approximately $4.0 million for the quarter ended June 30, 2025[1] - The company recorded a net decrease in net assets resulting from operations of approximately $2.1 million, which included net unrealized depreciation of approximately $7.5 million[1] - Net investment income per share decreased from $0.10 in Q3 2024 to $0.07 in Q3 2025, a reduction of 30%[8] - The ratio of expenses to average net assets increased from 10.71% in Q3 2024 to 11.77% in Q3 2025[11] - The ratio of net investment income to average net assets decreased from 16.06% in Q3 2024 to 13.98% in Q3 2025[11] Asset and Liability Overview - As of September 30, 2025, total assets were approximately $314.7 million, while total liabilities were approximately $155.8 million[5] - Net asset value (NAV) per share as of September 30, 2025, was $1.95, down from $2.06 as of June 30, 2025[1] - Net asset value per share decreased from $2.43 in Q3 2024 to $2.06 in Q3 2025, representing a decline of 15.2%[8] - Shares outstanding increased from 67,869,056 at the end of Q3 2024 to 81,669,408 at the end of Q3 2025[8] - Average net assets rose from $154,529,000 in the first nine months of 2024 to $159,032,000 in the first nine months of 2025[8] Investment Activity - Investment activity during the third quarter included purchases of approximately $58.1 million and repayments of approximately $31.3 million, with no sales made[1] - The weighted average yield of debt investments was 14.6% at current cost, compared to 14.5% as of June 30, 2025[1] - The total return based on market value for Q3 2025 was (24.74)%, compared to (0.25)% in Q3 2024[8] - Portfolio turnover rate for the first nine months of 2025 was 25.98%, slightly up from 25.25% in the same period of 2024[10] Shareholder Actions - The company issued approximately 5.4 million shares of common stock through an "at-the-market" offering, resulting in net proceeds of approximately $11.8 million[2] - A 12-month share repurchase program was authorized, allowing for the repurchase of up to $25.0 million of outstanding common stock[2] Losses and Distributions - Net realized and unrealized losses per share were $(0.08) in Q3 2025 compared to $(0.11) in Q3 2024, indicating a smaller loss year-over-year[8] - Total distributions per share remained constant at $0.11 for both Q3 2024 and Q3 2025[8]

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Core Viewpoint - Oxford Square Capital Corp. reported its financial results for the quarter ended September 30, 2025, showing a slight decrease in net asset value and net investment income compared to the previous quarter, while total investment income increased. Financial Results - Net asset value (NAV) per share as of September 30, 2025, was $1.95, down from $2.06 on June 30, 2025 [1] - Net investment income (NII) for the quarter was approximately $5.6 million, or $0.07 per share, compared to $5.5 million, or $0.08 per share, for the previous quarter [1] - Total investment income for the quarter was approximately $10.2 million, an increase from approximately $9.5 million in the prior quarter [1] Investment Income Breakdown - Investment income from debt investments was $5.2 million, CLO equity investments contributed $4.3 million, and other income was $0.8 million [1] - Weighted average yield of debt investments was 14.6%, up from 14.5% as of June 30, 2025 [1] - Weighted average effective yield of CLO equity investments increased to 9.7% from 8.8% [1] Expenses and Losses - Total expenses for the quarter were approximately $4.7 million, compared to $4.0 million for the previous quarter [1] - The company recorded a net decrease in net assets resulting from operations of approximately $2.1 million, which included net realized losses of approximately $153,000 and net unrealized depreciation of approximately $7.5 million [1] Shareholder Actions - The Board of Directors declared distributions of $0.035 per share for January, February, and March 2026 [1] - A 12-month share repurchase program was authorized, allowing the company to repurchase up to $25 million of its common stock [2] Share Issuance - Approximately 5.4 million shares of common stock were issued under an "at-the-market" offering, resulting in net proceeds of approximately $11.8 million [1] Additional Information - A conference call to discuss the third-quarter results was scheduled for November 4, 2025 [2] - Further details regarding quarterly results were made available on the company's investor relations website [3]

Core Viewpoint - Oxford Square Capital Corp. is set to discuss its third quarter 2025 earnings in a conference call scheduled for November 4, 2025, at 9:00 AM Eastern time [1] Company Overview - Oxford Square Capital Corp. is a publicly-traded business development company that primarily invests in syndicated bank loans and, to a lesser extent, in debt and equity tranches of collateralized loan obligation (CLO) vehicles [2] - The company also engages in CLO investments that may include warehouse facilities, which are financing structures designed to aggregate loans for the formation of CLO vehicles [2]

Group 1 - The article provides a review of the preferred stock and baby bond market, highlighting both individual news and broader market trends [1] - It emphasizes the importance of yield and risk management in investment strategies, particularly in the context of income portfolios [1] - The content encourages the use of interactive tools for navigating various investment markets, including BDC, CEF, OEF, preferreds, and baby bonds [2] Group 2 - The article promotes investor guides specifically focused on CEFs, preferreds, and PIMCO CEFs, indicating a resource for deeper understanding [2] - It offers a no-risk trial for potential investors to explore the services provided, suggesting a strategy to attract new clients [2]

Group 1 - The article discusses a newly listed fixed-income security on the exchange, specifically focusing on Oxford Square Capital [1] - It invites active investors to join a free trial and engage in discussions within a chat room of sophisticated traders and investors [1] Group 2 - The article emphasizes that past performance is not indicative of future results and does not provide specific investment recommendations [2] - It clarifies that the analysts are third-party authors, which may include both professional and individual investors who might not be licensed or certified [2]