Oxford Lane Capital Corp. Provides August 2020 Net Asset Value Update
September 08 2020 - 8:00AM
Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCO)
(NasdaqGS: OXLCM) (NasdaqGS: OXLCP) today announced the following
net asset value (“NAV”) estimate as of August 31, 2020.
- Management’s unaudited estimate of
the range of our NAV per share of our common stock as of August 31,
2020 is between $3.71 and $3.81. This estimate is not a
comprehensive statement of our financial condition or results for
the month ended August 31, 2020. This estimate did not undergo the
Company’s typical quarter-end financial closing procedures and was
not approved by the Company’s board of directors. We advise you
that our NAV per share for the quarter ended September 30,
2020 may differ materially from this estimate, which is given only
as of August 31, 2020.
- As of August 31, 2020, the Company
had approximately 86.9 million shares of common stock issued and
outstanding.
We believe that the COVID-19 pandemic represents
an extraordinary circumstance that materially impacts the fair
value of and prospective cash flows from the Company’s investments.
As a result, the fair value of the Company’s portfolio investments
may be materially impacted after August 31, 2020 by circumstances
and events that are not yet known. To the extent the
Company’s portfolio investments are further impacted by the effects
of the COVID-19 pandemic, the Company may experience a material
impact on its future net investment income, the fair value of its
portfolio investments, its financial condition and the financial
condition of its portfolio investments.
The preliminary financial data included in this
press release has been prepared by, and is the responsibility
of, Oxford Lane Capital Corp.'s management.
PricewaterhouseCoopers LLP has not audited, reviewed, compiled, or
applied agreed-upon procedures with respect to the preliminary
financial data. Accordingly, PricewaterhouseCoopers LLP does
not express an opinion or any other form of assurance with respect
thereto.
About Oxford Lane Capital
Corp.
Oxford Lane Capital Corp. is a publicly-traded
registered closed-end management investment company principally
investing in debt and equity tranches of CLO vehicles. CLO
investments may also include warehouse facilities, which are
financing structures intended to aggregate loans that may be used
to form the basis of a CLO vehicle.
Forward-Looking Statements
This press release contains forward-looking
statements subject to the inherent uncertainties in predicting
future results and conditions. 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. These statements are not guarantees of
future performance, conditions or results and involve a number of
risks and uncertainties, including the impact of COVID-19 and
related changes in base interest rates and significant market
volatility on our business, our portfolio companies, our industry
and the global economy. 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. We undertake no obligation to update such statements to
reflect subsequent events, except as may be required by
law.
Contact: Bruce Rubin 203-983-5280
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