SOURCE: Oxford Lane Capital Corp.

February 24, 2011 11:18 ET

Oxford Lane Capital Corp. Announces Exercise of Over-Allotment Option

GREENWICH, CT--(Marketwire - February 24, 2011) - Oxford Lane Capital Corp. (the "Company") (NASDAQ: OXLC) announced today that it has issued 30,000 additional shares of its common stock in connection with the exercise of the over-allotment option granted to the underwriters in connection with the Company's initial public offering. After taking into account the additional shares that were issued today, a total of 1,855,000 shares of the Company's common stock were sold in its initial public offering at a public offering price of $20.00 per share for total gross proceeds of $37.1 million.

About Oxford Lane Capital Corp.

Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company. We seek to achieve our investment objective by investing primarily in senior secured loans made to companies whose debt is unrated or is rated below investment grade, with an emphasis on current income. Those investments may take a variety of forms, including the direct purchases of senior loans (either in the primary or secondary markets) or through investments in entities that in turn own a pool of senior loans.

Forward-Looking Statements

This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions, including statements with regard to the anticipated use of the net proceeds of the Company's securities offering. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission, including the prospectus dated January 19, 2011. We undertake no obligation to update such statements to reflect subsequent events.

Contact Information

  • Contact:

    Bruce Rubin
    203-983-5280