Oxford Square Capital (US:OXSQ) GlobeNewswire News Room·2024-11-05 13:00Core 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]