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Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended September 30, 2024 and Declaration of Distributions on Common Stock for the Months Ending January 31, February 28, and March 31, 2025
OXSQOxford Square Capital (OXSQ) GlobeNewswire News Room·2024-11-05 13:00

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 6.2million,or6.2 million, or 0.10 per share, down from 7.7million,or7.7 million, or 0.13 per share, in Q2 2024 [2] - Total investment income for Q3 2024 was approximately 10.3million,comparedto10.3 million, compared to 11.4 million in Q2 2024 [2] - Total expenses for Q3 2024 were approximately 4.2million,anincreasefrom4.2 million, an increase from 3.7 million in Q2 2024 [2] Investment Portfolio - The company made investments of approximately 47.7millionduringQ32024andreceivedapproximately47.7 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 0.5million[3]ShareholderDistributions−TheBoardofDirectorsdeclareddistributionsof0.5 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,downfrom2.35, 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]