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] - CLO investments may also include warehouse facilities, which are financing structures designed to aggregate loans that can be used to form the basis of a CLO vehicle [2] Upcoming Earnings Call - The company will hold a conference call to discuss its fourth quarter 2024 earnings on February 28, 2025, at 9:00 AM Eastern time [1] - The toll-free dial-in number for the call is 1-800-549-8228, and a recording will be available for 30 days after the call [1] - For those interested in the recording, the replay number is 1-888-660-6264, with a pass-code of 06523 [1]

Investment Portfolio - As of September 30, 2024, the fair value of the Company's investment portfolio was approximately $262.9 million[193]. - As of September 30, 2024, the total fair value of the investment portfolio was approximately $262.9 million, down from $266.9 million as of December 31, 2023, reflecting a decrease of about 1.5%[204]. - The company had investments in debt securities or loans to 18 portfolio companies, with a fair value of approximately $152.7 million, compared to 19 companies valued at $179.5 million as of December 31, 2023[209][210]. - The company's CLO equity investments increased to approximately $103.5 million as of September 30, 2024, representing 39.3% of the total portfolio, up from $82.2 million (30.8%) at the end of 2023[211]. - The company held qualifying assets that represented 64.1% of total assets as of September 30, 2024, down from 70.6% at the end of 2023[211]. Investment Activity - The Company generally expects to invest between $5 million and $50 million in each portfolio company[186]. - The company purchased approximately $88.7 million in portfolio investments during the nine months ended September 30, 2024, compared to $11.7 million in the same period of 2023, indicating a significant increase in investment activity[206]. - During the nine months ended September 30, 2024, the company experienced net realized losses of approximately $51.4 million and debt repayments of approximately $61.6 million[204][208]. - The company had loan principal repayments of approximately $61.6 million during the nine months ended September 30, 2024, compared to $15.8 million in the same period of 2023, indicating increased repayment activity[208]. Financial Performance - Investment income for the three months ended September 30, 2024, was approximately $10.3 million, a decrease of 20.8% compared to $13.0 million for the same period in 2023[217]. - Total investment income for the nine months ended September 30, 2024, was approximately $32.5 million, down 17.7% from $39.5 million in 2023[219]. - The net change in unrealized appreciation on investments was approximately $33.6 million for the nine months ended September 30, 2024, compared to $7.1 million in the same period of 2023[206]. - For the three months ended September 30, 2024, the company recognized net realized losses on investments of approximately $12.9 million, primarily due to the extinguishment of two senior secured loans in a single portfolio company[235]. - The net increase in net assets resulting from operations for the three months ended September 30, 2024, was approximately $0.9 million, compared to a net increase of approximately $6.7 million for the same period in 2023[242]. Debt Investments - The weighted average annualized yield on debt investments was approximately 14.50% as of September 30, 2024[187]. - The debt investments had stated interest rates ranging from 8.71% to 13.26% with maturity dates between 0 and 76 months[187]. - The weighted average yield on debt investments increased to approximately 14.50% as of September 30, 2024, compared to approximately 13.10% as of September 30, 2023[220]. - The weighted average stated interest rate on all of the company's debt outstanding as of September 30, 2024, was 5.77%[252]. Expenses and Distributions - Total expenses for the three months ended September 30, 2024, were approximately $4.2 million, a decrease of 36.4% from $6.6 million in 2023[222]. - Interest expense for the three months ended September 30, 2024, was approximately $2.0 million, down from $2.5 million in the same period of 2023[226]. - Professional fees for the three months ended September 30, 2024, were approximately $359,000, compared to approximately $479,000 for the same period in 2023[227]. - General and administrative expenses for the three months ended September 30, 2024, were approximately $395,000, a decrease from approximately $458,000 in 2023[229]. - The company declared a total of $0.225 per share in distributions for the third quarter of 2023, with a GAAP net investment income of $0.11[260]. - The total distributions for the fourth quarter of 2023 are $0.105 per share, with a GAAP net investment income of $0.13, indicating a shortfall of $0.03[259]. Risk Management - The Company is exposed to leverage risks due to borrowing funds for investments, which may magnify potential gains and losses[189]. - Interest rate risk affects the company's net interest income, which is the difference between interest income earned and interest expense incurred[274]. - The company may hedge against interest rate fluctuations using standard instruments like futures, options, and forward contracts[275]. - A hypothetical increase of 300 basis points in interest rates could lead to a 15.2% increase in investment income[277]. - A hypothetical increase of 200 basis points could result in a 10.1% increase in investment income[277]. - A hypothetical increase of 100 basis points could lead to a 5.1% increase in investment income[277]. - Conversely, a hypothetical decrease of 100 basis points could result in a 5.1% decrease in investment income[277]. - The company acknowledges that actual results may differ materially from hypothetical analyses due to various factors[276]. Governance and Compliance - The company has established an Investment Advisory Agreement with Oxford Square Management, which is controlled by Oxford Funds[261]. - Related party transactions are subject to a written policy for allocation of investment opportunities among affiliated entities[267]. - The company has implemented policies to screen transactions for potential conflicts of interest with related parties[268]. - A Code of Business Conduct and Ethics is in place, requiring disclosure of any conflicts of interest by employees and directors[269]. - The Audit Committee is responsible for reviewing and approving transactions with related parties as per NASDAQ corporate governance standards[269].

Financial Data and Key Metrics Changes - For the quarter ended September 30, 2024, the company's net investment income was approximately $6.2 million or $0.10 per share, a decrease from $7.7 million or $0.13 per share in the prior quarter [7] - The net asset value per share decreased to $2.35 from $2.43 in the prior quarter [7] - Total investment income for the third quarter was approximately $10.3 million, down from approximately $11.4 million in the prior quarter [8] - The company recorded combined net unrealized and realized losses on investments of approximately $7.1 million or $0.11 per share, compared to losses of approximately $2.5 million or $0.04 per share in the prior quarter [8] Business Line Data and Key Metrics Changes - The company purchased approximately $47.7 million in investments and received repayments of approximately $27.9 million during the quarter [8] - The company issued approximately 5.1 million shares of common stock through an at-the-market offering, resulting in net proceeds of approximately $14.5 million [9] Market Data and Key Metrics Changes - U.S. loan market performance modestly improved, with U.S. loan prices increasing from 96.54% of par to 96.71% of par [11] - The 12-month trailing default rate for the loan index decreased to 0.8% from 0.9% at the end of June [12] - The distress ratio ended the quarter at 3.43%, down from 4.42% at the end of the second quarter [12] - U.S. Leveraged Loan primary market issuance was $109.8 billion, representing a 45% increase compared to the same quarter in the previous year [13] - U.S. loan fund outflows were approximately $3.5 billion for the quarter [14] Company Strategy and Development Direction - The company focuses on portfolio management strategies designed to maximize long-term total return, leveraging its status as a permanent capital vehicle to take a longer-term view towards investment strategy [14] Management's Comments on Operating Environment and Future Outlook - Management noted that while the loan market showed some improvement, out-of-court restructurings and exchanges remain elevated, indicating ongoing challenges in the market [12] - The company is optimistic about the long-term investment strategy despite short-term fluctuations in the market [14] Other Important Information - The company declared monthly distributions of $0.035 per share for January, February, and March of 2025 [9] - Additional information about the company's third quarter performance is available on its website [15] Q&A Session Summary - No questions were posed during the Q&A session, and the call concluded with closing remarks from management [15][16]

Financial Performance - As of September 30, 2024, the net asset value (NAV) per share was $2.35, down from $2.43 as of June 30, 2024[2] - Net investment income (NII) for the quarter ended September 30, 2024, was approximately $6.2 million, or $0.10 per share, compared to $7.7 million, or $0.13 per share, for the previous quarter[3] - Total investment income for the quarter was approximately $10.3 million, a decrease from approximately $11.4 million in the prior quarter[3] - Total expenses for the quarter were approximately $4.2 million, up from approximately $3.7 million for the quarter ended June 30, 2024[4] - The company recorded a net decrease in net assets resulting from operations of approximately $0.9 million, which included net realized losses of approximately $12.9 million[6] - Net asset value at the end of the period decreased to $2.35 from $2.78 year-over-year, representing a decline of 15.5%[16] - Net investment income for the three months ended September 30, 2024, was $0.10 per share, down from $0.11 in the same period last year[16] - Total distributions for the three months ended September 30, 2024, were $(0.11) per share, compared to $(0.23) per share in the prior year[16] - The total return based on market value for the three months ended September 30, 2024, was (0.25)%, compared to 22.17% in the prior year[16] - Average net assets for the three months ended September 30, 2024, were $154,529,000, down from $160,397,000 in the same period last year[17] Investment Activities - During the third quarter of 2024, the company made investments of approximately $47.7 million and received approximately $27.9 million from sales and repayments of investments[6] - The weighted average yield of debt investments was 14.5% as of September 30, 2024, compared to 13.7% as of June 30, 2024[5] - The portfolio turnover rate for the nine months ended September 30, 2024, was 25.86%, compared to 2.64% in the prior year[16] - The company is focused on investing in syndicated bank loans and collateralized loan obligation (CLO) vehicles[18] Shareholder Information - As of September 30, 2024, the company had approximately 67.9 million shares of common stock outstanding after issuing approximately 5.1 million shares[9] - Shares outstanding at the end of the period increased to 67,869,056 from 57,958,446 year-over-year[16] - The company declared distributions of $0.035 per share for the months ending January 31, February 28, and March 31, 2025[2] Risk Factors - Forward-looking statements indicate potential risks and uncertainties that could affect future performance[19] Expense Management - The ratio of expenses to average net assets improved to 10.71% for the three months ended September 30, 2024, from 12.47% in the same period last year[17]

Core Viewpoint - Oxford Square Capital Corp. reported its financial results for the quarter ended September 30, 2024, highlighting a decrease in net investment income and net asset value per share compared to the previous quarter. Financial Performance - Net investment income (NII) for Q3 2024 was approximately $6.2 million, or $0.10 per share, down from $7.7 million, or $0.13 per share, in Q2 2024 [2] - Total investment income for Q3 2024 was approximately $10.3 million, compared to $11.4 million in Q2 2024 [2] - Total expenses for Q3 2024 were approximately $4.2 million, an increase from $3.7 million in Q2 2024 [2] Investment Portfolio - The company made investments of approximately $47.7 million during Q3 2024 and received approximately $27.9 million from sales and repayments [3] - As of September 30, 2024, the weighted average yield of debt investments was 14.5%, up from 13.7% as of June 30, 2024 [2] - The company had three debt investments in one portfolio company on non-accrual status, with a combined fair value of approximately $0.5 million [3] Shareholder Distributions - The Board of Directors declared distributions of $0.035 per share for January, February, and March 2025 [1] - The net asset value (NAV) per share as of September 30, 2024, was $2.35, down from $2.43 as of June 30, 2024 [1][6] Market Activity - The company issued approximately 5.1 million shares of common stock through an "at-the-market" offering, resulting in net proceeds of approximately $14.5 million [3] - As of September 30, 2024, there were approximately 67.9 million shares of common stock outstanding [3] Financial Ratios - The ratio of expenses to average net assets for Q3 2024 was 10.71%, a decrease from 15.40% in Q3 2023 [10] - The ratio of net investment income to average net assets for Q3 2024 was 16.06%, compared to 17.13% in Q3 2023 [10]

GREENWICH, Conn., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) announced today that it will hold a conference call to discuss third quarter 2024 earnings on Tuesday, November 5, 2024 at 9:00 AM Eastern time. The toll free dial-in number is 800-445-7795 and the conference identification is “Oxford”. There will be a recording available for 30 days after the call. If you are interested in hearing the recording, please dial 800-945-1517. The ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________ FORM 10-Q _______________________________ MARYLAND 20-0188736 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share OXSQ NASDAQ Global Select Market LLC 6.25% Notes due 2026 OXSQZ NASDAQ Global Select Market LLC 5.50% Notes due 2028 OXSQG NAS ...

I 1 l p H unn t E i l I II and the first and 7 H - DNY59 Overview Business Development Companies have been one of the best places that investors could have stashed their cash as a way to benefit from this higher interest rate environment. However, not all BDCs are built with the same quality and results can vary based on the underlying portfolio structure. Oxford Square Capital (NASDAQ:OXSQ) has been one of the worst performing BDCs since 2020. I previously covered OXSQ back in May and rated it a sell. When ...

Oxford Square Capital Corp (NASDAQ:OXSQ) Q2 2024 Earnings Conference Call August 13, 2024 9:00 AM ET Company Participants Jonathan Cohen - Chief Executive Officer Saul Rosenthal - President Bruce Rubin - Chief Financial Officer Kevin Yonon - Managing Director and Portfolio Manager Conference Call Participants Operator Good day, everyone, and welcome to the Oxford Square Capital Corp. Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, you have the o ...

Exhibit 99.1 Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended June 30, 2024 and Declaration of Distributions on Common Stock for the Months Ending October 31, November 30, and December 31, 2024. GREENWICH, CT – 8/13/2024 –Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) (the "Company," "we," "us" or "our") announced today its financial results and related information for the quarter ended June 30, 2024. · On August 8, ...