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Oxford Square Capital Corp. (NASDAQ:OXSQ), a business development company with a market capitalization of $175 million and an impressive 18% dividend yield according to InvestingPro, reported Thursday that it has entered into an underwriting agreement for the issuance and sale of $65 million in aggregate principal amount of 7.75% notes due 2030. The agreement was made with Lucid (NASDAQ:LCID) Capital Markets, LLC, acting as the representative of the underwriters. The underwriters have an option to purchase up to an additional $9.75 million in aggregate principal amount of notes. InvestingPro data shows the company maintains strong liquidity with a current ratio of 3.21, though it currently carries $123.75 million in total debt.
The closing of the offering is expected to occur on August 7, subject to customary closing conditions. The notes will be issued under the company’s effective shelf registration statement on Form N-2, as supplemented by a preliminary and final prospectus supplement, both dated July 31.
Oxford Square Capital stated that this announcement does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction where such an offer or sale would be unlawful prior to registration or qualification under applicable securities laws.
The information is based on a statement from the company’s Form 8-K filing with the Securities and Exchange Commission.
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