Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. Announces Net Asset Value and Selected Financial Results for the Quarter Ended June 30, 2020 July 28, 2020, 8:00 AM EDT SHARE THIS ARTICLE - The weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 11.6%, compared with 14.4% as of March 31, 2020. Our investment objective is to maximize our portfolio’s total return. Investor Relations Global Contacts Oxford Square Capital Corp OXSQ Morningstar Rating Rating as of Jul 22, 2020. Oxford Square Capital Corp. operates as a closed-end and non-diversified management investment company. Investor Relations Capitala Investment Advisors provides financial solutions for lower middle market companies, making debt and equity investments between $10MM to … (3) Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the year. Total return is not annualized. OXFORD SQUARE CAPITAL CORP.CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES June 30, 2020 December 31, 2019 (unaudited) ASSETS Non-affiliated/non-control investments (cost: $440,310,808 and $467,828,907, respectively) $270,187,580 $361,985,203 Affiliated investments (cost: $16,836,822 and $16,836,822, respectively) 634,089 2,816,790 Cash equivalents 20,061,813 14,410,486 Restricted cash — 2,050,452 Interest and distributions receivable 1,090,287 3,480,036 Other assets 776,759 523,626 Total assets $292,750,528 $385,266,593 LIABILITIES Notes payable – 6.50% Unsecured Notes (net of deferred issuance costs of $1,218,751 and $1,380,658, respectively) $63,151,474 $62,989,567 Notes payable – 6.25% Unsecured Notes (net of deferred issuance costs of $1,360,619 and $1,476,878, respectively) 43,430,131 43,313,872 Notes payable – Credit Facility (net of deferred issuance costs of $10,051) — 28,080,550 Securities purchased not settled 8,742,818 — Base management fee and net investment income incentive fee payable to affiliate 1,010,673 1,480,653 Accrued interest payable 481,261 632,235 Accrued expenses 607,562 771,174 Total liabilities 117,423,919 137,268,051 NET ASSETS Common stock, $0.01 par value, 100,000,000 shares authorized; 49,589,607 and 48,448,987 shares issued and outstanding, respectively 495,895 484,489 Capital in excess of par value 457,810,322 451,839,302 Total distributable earnings / (accumulated losses) (282,979,608) (204,325,249) Total net assets 175,326,609 247,998,542 Total liabilities and net assets $292,750,528 $385,266,593 Net asset value per common share $3.54 $5.12 OXFORD SQUARE CAPITAL CORP.CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended June 30, 2020 Three Months Ended June 30, 2019 Six Months Ended June 30, 2020 Six Months Ended June 30, 2019 INVESTMENT INCOME From non-affiliated/non-control investments: Interest income – debt investments $4,873,382 $7,432,376 $10,527,637 $14,580,857 Income from securitization vehicles and investments 3,217,953 6,649,481 7,977,023 13,496,406 Other income 163,286 495,158 574,649 724,866 Total investment income from non-affiliated/non-control investments 8,254,621 14,577,015 19,079,309 28,802,129 From affiliated investments: Dividend income – non-cash — 6,335,886 — 6,335,886 Total investment income from affiliated investments — 6,335,886 — 6,335,886 Total investment income 8,254,621 20,912,901 19,079,309 35,138,015 EXPENSES Interest expense 1,906,442 2,806,159 4,079,910 4,956,000 Base management fees 1,010,672 1,868,123 2,241,882 3,494,661 Professional fees 433,746 354,818 907,735 722,069 Compensation expense 168,281 194,975 368,629 427,903 General and administrative 405,498 554,075 778,680 882,592 Total expenses before incentive fees 3,924,639 5,778,150 8,376,836 10,483,225 Net investment income incentive fees — 2,355,442 — 3,511,493 Total expenses 3,924,639 8,133,592 8,376,836 13,994,718 Net investment income 4,329,982 12,779,309 10,702,473 21,143,297 Net change in unrealized appreciation/(depreciation) on investments: Non-affiliated/non-control investments 18,736,102 (11,951,759) (64,279,524) (7,723,109) Affiliated investments 249,793 (8,328,556) (2,182,701) (6,878,270) Total net change in unrealized appreciation/ (depreciation) on investments 18,985,895 (20,280,315) (66,462,225) (14,601,379) Net realized gains/(losses): Non-affiliated/non-control investments (2,760,308) 1,296 (3,037,481) (1,277,570) Extinguishment of debt — (36,980) (5,211) (51,086) Total net realized losses (2,760,308) (35,684) (3,042,692) (1,328,656) Net increase/(decrease) in net assets resulting from operations $20,555,569 $(7,536,690) $(58,802,444) $5,213,262 Net increase in net assets resulting from net investment income per common share (Basic and Diluted) $0.09 $0.27 $0.22 $0.44 Net increase/(decrease) in net assets resulting from operations per common share (Basic and Diluted) $0.41 $(0.16) $(1.19) $0.11 Weighted average shares of common stock outstanding (Basic and Diluted) 49,589,607 47,650,959 49,363,588 47,650,959 Distributions per share $0.201 $0.201 $0.402 $0.401 FINANCIAL HIGHLIGHTS – (unaudited)Financial highlights for the three and six months ended June 30, 2020 and 2019, respectively, are as follows:Per Share Data Three Months Ended June 30, 2020 Three Months Ended June 30, 2019 Six Months Ended June 30, 2020 Six Months Ended June 30, 2019 Net asset value as of beginning of period $3.32 $6.67 $5.12 $6.60 Net investment income(1) 0.09 0.27 0.22 0.44 Net realized and unrealized gains/(losses)(2) 0.33 (0.43) (1.40) (0.33) Net increase/(decrease) in net asset value from operations 0.42 (0.16) (1.18) 0.11 Distributions per share from net investment income (0.17) (0.17) (0.33) (0.34) Tax return of capital distributions(3) (0.03) (0.03) (0.07) (0.06) Total distributions (0.20) (0.20) (0.40) (0.40) Effect of shares issued/repurchased, gross — — — — Net asset value at end of period $3.54 $6.31 $3.54 $6.31 Per share market value at beginning of period $2.55 $6.50 $5.44 $6.47 Per share market value at end of period $2.80 $6.40 $2.80 $6.40 Total return based on Market Value(4) 17.84% 1.60 (41.94)% 5.21% Total return based on Net Asset Value(5) 12.68% (2.38)% (23.01)% 1.68% Shares outstanding at end of period 49,589,607 47,650,959 49,589,607 47,650,959 Ratios/Supplemental Data(8) Net assets at end of period (000’s) $175,327 $300,829 $175,327 $300,829 Average net assets (000’s) 170,033 309,387 188,562 312,841 Ratio of operating expenses to average net assets(6) 9.23% 10.52% 8.88% 8.95% Ratio of net investment income to average net assets(6) 10.19% 16.52% 11.35% 13.52% Portfolio turnover rate(7) 4.75% 6.89% 6.47% 7.82% ____________(1) Represents per share net investment income for the period, based upon weighted average shares outstanding.
(5) Total return based on net asset value equals the increase or decrease of ending net asset value over beginning net asset value, plus distributions, divided by the beginning net asset value. Our current focus is to seek an attractive risk-adjusted total return by investing primarily in debt and equity tranches of CLO vehicles, which are collateralized principally by a diverse portfolio of senior loans, and which generally have little to no exposure to real estate loans, mortgage loans or pools of consumer-based debt, such as credit card receivables or auto loans. GREENWICH, Conn., July 28, 2020 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQL) (NasdaqGS: OXSQZ) (the “Company,” “we,” “us” or “our”) announced today its financial results and related information for the quarter ended … The ultimate tax character of the Company’s earnings cannot be determined until tax returns are prepared after the end of the fiscal year. ... Oxford Square Capital Corp. Dividend policy Cut Price as of: JUL 23, 08:00 PM EDT $2.76 +0.01 +0.36% OXSQ: NASDAQ (Stock) Oxford Square Capital Corp. Dividend policy We combine sophisticated software with affordable hardware to enable sellers to turn mobile and computing devices into powerful payment and point-of-sale solutions. Its debt investments include bilateral loans and syndicated loans.