Oxford Square Capital Corp. Files 10-Q for Quarter Ended March 31, 2024

TL;DR

<b>Oxford Square Capital Corp. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial status and registered securities.</b>

AI Summary

Oxford Square Capital Corp. (OXSQG) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Oxford Square Capital Corp. filed a 10-Q report for the quarterly period ended March 31, 2024. The company is registered in Maryland and its fiscal year ends on December 31. Its principal executive offices are located at 8 Sound Shore Drive, Suite 255, Greenwich, Connecticut. Common stock (OXSQ), 6.25% Notes due 2026 (OXSQZ), and 5.50% Notes due 2028 (OXSQG) are registered on the NASDAQ Global Select Market. The filing confirms the company has submitted all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking Oxford Square Capital Corp., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Oxford Square Capital Corp. for the first quarter of 2024. The disclosure of registered securities and their exchange listings is crucial for investors tracking the company's market presence and available investment instruments.

Risk Assessment

Risk Level: low — Oxford Square Capital Corp. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Oxford Square Capital Corp.'s performance and outlook.

Key Numbers

• 2024-03-31 — Quarterly Period End Date (The report covers the period ending on this date.)
• 2024-05-03 — Filing Date (The date the 10-Q was filed.)
• 814-00638 — SEC File Number (Commission file number for the registrant.)
• 0001259429 — Central Index Key (Unique identifier for the registrant.)

Key Players & Entities

• Oxford Square Capital Corp. (company) — Registrant name
• March 31, 2024 (date) — Quarterly period ended
• Maryland (jurisdiction) — State of incorporation
• December 31 (date) — Fiscal year end
• 8 Sound Shore Drive, Suite 255, Greenwich, Connecticut (address) — Principal executive office
• OXSQ (stock_symbol) — Common stock trading symbol
• OXSQZ (stock_symbol) — 6.25% Notes due 2026 trading symbol
• OXSQG (stock_symbol) — 5.50% Notes due 2028 trading symbol

FAQ

Industry Context

Oxford Square Capital Corp. operates as a business development company (BDC) and a closed-end management investment company, investing in debt and equity of middle market companies.

Regulatory Implications

The company is subject to regulations under the Investment Company Act of 1940 and the Securities Exchange Act of 1934, requiring regular filings like this 10-Q.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended March 31, 2024.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into performance drivers and risks.
3. Examine any disclosures related to investments, debt, and equity to understand the company's capital structure and asset allocation.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q.
• 2024-05-03: Filing Date — The date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is a standard quarterly filing (10-Q) and does not inherently provide comparative data to a previous filing within this specific output. Further analysis of the document's content would be needed for direct comparison.

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share OXSQ NASDAQ Global Select
• $24,366,031 — March 31, 2024, the portfolio includes $24,366,031 principal amount of debt investments an
• $3,424,612 — for U.S. federal income tax purposes is $3,424,612; aggregate gross unrealized depreciatio
• $217,550,946 — for U.S. federal income tax purposes is $217,550,946. Net unrealized depreciation is $214,12
• $214,126,334 b — 550,946. Net unrealized depreciation is $214,126,334 based upon an estimated tax cost basis of
• $464,982,380 — sed upon an estimated tax cost basis of $464,982,380 as of March 31, 2024. (9) Cost reflec
• $7.8 million — lien term loans. The Company exchanged $7.8 million of principal in the former first lien t
• $2.1 million — first lien term loan for approximately $2.1 million of the first lien second out exchange t
• $4.9 million — ut exchange term loan and approximately $4.9 million of the first lien third out tranche A e
• $7.0 million — change term loan. The Company exchanged $7.0 million of principal in the former second lien
• $2.8 million — in the former second lien term loan for $2.8 million of the first lien third out tranche B e
• $6.9 million — of these investments was approximately $6.9 million. (18) The CLO subordinated notes and
• $1.4 million — arch 31, 2024, a total of approximately $1.4 million of PIK dividends were entitled to be re

Filing Documents

• ea0204324-01_10q.htm (10-Q) — 7520KB
• ea0204324-01_ex311.htm (EX-31.1) — 17KB
• ea0204324-01_ex312.htm (EX-31.2) — 17KB
• ea0204324-01_ex321.htm (EX-32.1) — 9KB
• ea0204324-01_ex322.htm (EX-32.2) — 9KB
• 0001213900-24-039266.txt (&nbsp;) — 19098KB
• oxsq-20240331.xsd (EX-101.SCH) — 121KB
• oxsq-20240331_cal.xml (EX-101.CAL) — 33KB
• oxsq-20240331_def.xml (EX-101.DEF) — 346KB
• oxsq-20240331_lab.xml (EX-101.LAB) — 718KB
• oxsq-20240331_pre.xml (EX-101.PRE) — 340KB
• ea0204324-01_10q_htm.xml (XML) — 4056KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 1 Schedule of Investments as of March 31, 2024 (unaudited) 2 Schedule of Investments as of December 31, 2023 10 17 18 19

Notes to Financial Statements (unaudited)

Notes to Financial Statements (unaudited) 20 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 45 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 61 Item 4.

Controls and Procedures

Controls and Procedures 61

OTHER INFORMATION

PART II. OTHER INFORMATION 63 Item 1.

Legal Proceedings

Legal Proceedings 63 Item 1A.

Risk Factors

Risk Factors 63 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 63 Item 3. Defaults Upon Senior Securities 63 Item 4. Mine Safety Disclosures 63 Item 5. Other Information 63 Item 6. Exhibits 64

SIGNATURES

SIGNATURES 65 i Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS OXFORD SQUARE CAPITAL CORP. March 31, 2024 December 31, 2023 (unaudited) ASSETS Non-affiliated/non-control investments (cost: $ 424,246,447 and $ 440,069,822 , respectively) $ 245,936,071 $ 261,614,335 Affiliated investments (cost: $ 16,836,822 and $ 16,836,822 , respectively) 4,919,975 5,276,092 Cash and cash equivalents 20,906,690 5,740,553 Interest and distributions receivable 2,615,160 3,976,408 Other assets 910,124 1,060,384 Total assets $ 275,288,020 $ 277,667,772 LIABILITIES Notes payable – 6.25% Unsecured Notes, net of deferred issuance costs of $ 485,479 and $ 543,609 , respectively $ 44,305,271 $ 44,247,141 Notes payable – 5.50% Unsecured Notes, net of deferred issuance costs of $ 1,672,097 and $ 1,768,219 respectively 78,827,903 78,731,781 Securities purchased not settled 3,997,500 — Base Fee and Net Investment Income Incentive Fee payable to affiliate 987,816 1,012,389 Accrued interest payable 1,204,487 1,204,487 Accrued expenses 1,552,652 1,163,349 Distributions payable 72,568 — Total liabilities 130,948,197 126,359,147 COMMITMENTS AND CONTINGENCIES (Note 13) NET ASSETS Common stock, $ 0.01 par value, 100,000,000 shares authorized; 59,672,337 and 59,300,472 shares issued and outstanding, respectively 596,723 593,005 Capital in excess of par value 459,180,359 458,121,381 Total distributable earnings/(accumulated losses) ( 315,437,259 ) ( 307,405,761 ) Total net assets 144,339,823 151,308,625 Total liabilities and net assets $ 275,288,020 $ 277,667,772 Net asset value per common share $ 2.42 $ 2.55 The accompanying notes are an integral part of these financial statements. 1 Table of Contents OXFORD SQUARE CAPITAL CORP. SCHEDULE OF INVESTMENTS (unaudited) March 31, 2024 COMPANY/INVESTMENT (1)(20) ACQUISITION DATE PRINCIPAL AMOUNT COST FAIR VA

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