Oxford Square Capital Corp. Files Q2 2024 10-Q

TL;DR

OXSQ 10-Q filed for Q2 2024. Check financials.

AI Summary

Oxford Square Capital Corp. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as TICC Capital Corp., is incorporated in Maryland and headquartered in Greenwich, CT. This filing provides an update on its financial performance and operations for the second quarter of 2024.

Why It Matters

This filing provides investors with crucial financial data and operational insights into Oxford Square Capital Corp.'s performance during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a publicly traded company filing quarterly reports, there are inherent risks associated with financial performance and market fluctuations.

Key Players & Entities

• Oxford Square Capital Corp. (company) — Registrant
• TICC Capital Corp. (company) — Former company name
• Greenwich, CT (location) — Business address city and state
• June 30, 2024 (date) — Quarterly period end date
• August 14, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share OXSQ NASDAQ Global Select
• $119.80 — mmon equity warrants (June 2029 expiry, $119.80 strike) June 13, 2024 62,157 $
• $24,469,639 — f June 30, 2024, the portfolio includes $24,469,639 principal amount of debt investments an
• $1,144,092 — for U.S. federal income tax purposes is $1,144,092; aggregate gross unrealized depreciatio
• $191,208,051 — for U.S. federal income tax purposes is $191,208,051. Net unrealized depreciation is $190,06
• $190,063,959 b — 208,051. Net unrealized depreciation is $190,063,959 based upon an estimated tax cost basis of
• $442,173,994 — sed upon an estimated tax cost basis of $442,173,994 as of June 30, 2024. (9) Cost reflect
• $7.8 million — or secured notes. The Company exchanged $7.8 million of principal in the former first lien s
• $2.1 million — senior secured notes for approximately $2.1 million of the first lien second out exchange s
• $4.9 million — senior secured notes and approximately $4.9 million of the first lien third out tranche A e
• $7.0 million — or secured notes. The Company exchanged $7.0 million of principal in the former second lien
• $2.8 million — er second lien senior secured notes for $2.8 million of the first lien third out tranche B e
• $3.0 million — of these investments was approximately $3.0 million. (18) The CLO subordinated notes and

Filing Documents

• ea0210294-01_10q.htm (10-Q) — 8467KB
• ea0210294-01_ex311.htm (EX-31.1) — 17KB
• ea0210294-01_ex312.htm (EX-31.2) — 17KB
• ea0210294-01_ex321.htm (EX-32.1) — 9KB
• ea0210294-01_ex322.htm (EX-32.2) — 9KB
• 0001213900-24-068478.txt ( ) — 22355KB
• oxsq-20240630.xsd (EX-101.SCH) — 125KB
• oxsq-20240630_cal.xml (EX-101.CAL) — 35KB
• oxsq-20240630_def.xml (EX-101.DEF) — 350KB
• oxsq-20240630_lab.xml (EX-101.LAB) — 740KB
• oxsq-20240630_pre.xml (EX-101.PRE) — 347KB
• ea0210294-01_10q_htm.xml (XML) — 5316KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 1 Schedule of Investments as of June 30, 2024 (Unaudited) 2 Schedule of Investments as of December 31, 2023 9 16 17 18

Notes to Financial Statements (Unaudited)

Notes to Financial Statements (Unaudited) 19 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 62 Item 4.

Controls and Procedures

Controls and Procedures 62

OTHER INFORMATION

PART II. OTHER INFORMATION 64 Item 1.

Legal Proceedings

Legal Proceedings 64 Item 1A.

Risk Factors

Risk Factors 64 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 64 Item 3. Defaults Upon Senior Securities 64 Item 4. Mine Safety Disclosures 64 Item 5. Other Information 64 Item 6. Exhibits 65

SIGNATURES

SIGNATURES 66 i Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS OXFORD SQUARE CAPITAL CORP. June 30, 2024 December 31, 2023 (Unaudited) ASSETS Non-affiliated/non-control investments (cost: $ 397,523,375 and $ 440,069,822 , respectively) $ 249,566,370 $ 261,614,335 Affiliated investments (cost: $ 16,836,822 and $ 16,836,822 , respectively) 2,543,665 5,276,092 Cash and cash equivalents 30,014,406 5,740,553 Securities sold, not settled 3,402,645 — Interest and distributions receivable 3,274,499 3,976,408 Other assets 1,383,299 1,060,384 Total assets $ 290,184,884 $ 277,667,772 LIABILITIES Notes payable – 6.25% Unsecured Notes, net of deferred issuance costs of $ 427,349 and $ 543,609 , respectively 44,363,401 44,247,141 Notes payable – 5.50% Unsecured Notes, net of deferred issuance costs of $ 1,575,975 and $ 1,768,219 , respectively 78,924,025 78,731,781 Securities purchased, not settled 10,852,405 — Base Fee and Net Investment Income Incentive Fee payable to affiliate 1,023,352 1,012,389 Accrued interest payable 1,204,487 1,204,487 Accrued expenses 1,405,182 1,163,349 Total liabilities 137,772,852 126,359,147 COMMITMENTS AND CONTINGENCIES (Note 13) NET ASSETS Common stock, $ 0.01 par value, 100,000,000 shares authorized; 62,705,628 and 59,300,472 shares issued and outstanding, respectively 627,056 593,005 Capital in excess of par value 468,341,856 458,121,381 Total distributable earnings/(accumulated losses) ( 316,556,880 ) ( 307,405,761 ) Total net assets 152,412,032 151,308,625 Total liabilities and net assets $ 290,184,884 $ 277,667,772 Net asset value per common share $ 2.43 $ 2.55 The accompanying notes are an integral part of these unaudited financial statements. 1 Table of Contents OXFORD SQUARE CAPITAL CORP. SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2024 COMPANY/INVESTMENT (1)(20) ACQUISITION DATE PRINCIPAL AMOUN

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