Oxford Square Capital Corp.

Listed Company

OXSQHCIK 0001259429NasdaqNon-AcceleratedMarylandFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-18.73M

Total Assets

$306.74M

Equity

$145.40M

Shares Out

87.51M

Op. Cash Flow

$-13.74M

Business

Oxford Square Capital Corp. is a closed-end, non‑diversified management investment company that has elected to be regulated as a business development company and focuses on generating total return through credit and structured finance investments. It primarily invests in corporate debt securities, collateralized loan obligation (CLO) equity and debt tranches, senior secured loans and related warrants and equity instruments. Its business comprises investment management and administrative functions provided under agreements with Oxford Square Management and Oxford Funds, including sourcing, due diligence, portfolio monitoring and fee arrangements. It invests predominantly in U.S.-based corporate loans and CLOs and accesses capital through public and private debt and equity offerings, broker/dealer networks, and distribution arrangements.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total investment income	40	43	52	43	37
Interest expense	9	8	11	12	—
Base Fee	4	4	5	6	6
Professional fees	2	2	1	1	2
Compensation expense	950,164	746,762	825,226	915,583	724,000
Directors fees	408,500	417,500	429,500	417,500	490,500
Insurance	267,450	308,552	329,892	378,804	422,805
Transfer agent and custodian fees	162,626	260,330	246,562	231,241	222,581
General and administrative	615,660	597,883	638,350	583,740	521,541
Excise tax	354,957	216,528	1	—	—
Total expenses before incentive fees	18	16	21	22	21
Net Investment Income Incentive Fees	—	—	4	—	—
Capital gains incentive fees	—	—	—	—	—
Total incentive fees	—	—	4	—	—
Total expenses	18	16	24	22	21
Net investment income	23	26	27	21	16
Total net change in unrealized (depreciation)/appreciation on investments	−24	76	7	−106	38
Total net realized losses	−17	−96	−17	—	—
Net change in unrealized and realized losses	−41	−21	−10	−106	—
Net (decrease)/increase in net assets resulting from operations.	−19	6	17	−86	40
Net increase in net assets resulting from net investment income per common share (Basic and Diluted): (in Dollars per share)	0.3	0.42	0.51	0.42	0.32
Net increase in net assets resulting from net investment income per common share (Diluted) (in Dollars per share)	0.3	0.42	0.51	0.42	0.32
Net (decrease)/increase in net assets resulting from operations per common share (Basic and Diluted): (in Dollars per share)	−0.25	0.09	0.32	−1.72	0.8
Net (decrease)/increase in net assets resulting from operations per common share (Diluted) (in Dollars per share)	−0.25	0.09	0.32	−1.72	0.8
Weighted average shares of common stock outstanding (Basic) (in Shares)	76	63	54	50	50
Weighted average shares of common stock outstanding (Diluted) (in Shares)	76	63	54	50	50
Distributions per share (in Dollars per share)	0.42	0.42	0.54	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash equivalents	51	34	5	—	—
Cash	698,579	493,380	1	—	—
Interest and distributions receivable	2	3	4	3	3
Other assets	1	1	1	785,640	615,109
Total assets	307	300	278	328	434
Securities purchased, not settled	6	12	—	—	—
Accrued interest payable	2	1	1	1	1
Base Fee and Net Investment Income Incentive Fee payable to affiliate	1	1	—	—	—
Accrued expenses	1	1	1	458,001	625,163
Total liabilities	161	139	126	189	189
COMMITMENTS AND CONTINGENCIES (Note 9)	—	—	—	—	—
Common stock, $0.01 par value, 100,000,000 shares authorized; 86,060,964 and 69,758,938 shares issued and outstanding, respectively	860,610	697,590	593,005	498,447	496,900
Capital in excess of par value	523	488	—	—	—
Total distributable earnings/(accumulated losses)	−378	−328	−307	−297	—
Total net assets	145	161	151	139	245
Total liabilities and net assets	307	300	278	328	434
Net asset value per common share (in Dollars per share)	1.69	2.3	2.55	2.78	4.92

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Accretion of discounts on investments	−3	−2	−1	−880,671	−740,731
Accretion of discount on notes payable and deferred debt issuance costs	758,026	620,397	834,005	943,405	794,417
PIK income	−3	−462,883	—	—	—
Purchases of investments	−98	−100	−12	−84	−202
Repayments of principal	48	75	16	50	24
Proceeds from the sale of investments	11	12	20	15	16
Net realized losses on investments	17	96	17	339,819	15
Reductions to CLO equity cost value	8	13	15	20	37
Decrease/(increase) in interest and distributions receivable	721,888	1	−483,692	−428,239	−765,218
Decrease/(increase) in other assets	156,640	−167,214	−274,744	−170,531	−17,871
Increase/(decrease) in accrued interest payable	498,951	—	−11,622	—	737,918
(Decrease)/increase in Base Fee and Net Investment Income Incentive Fee payable	−179,906	203,575	−311,184	−365,139	529,009
(Decrease)/increase in accrued expenses	−680	−145,088	705,348	−167,162	51,186
Net cash (used in)/provided by operating activities	−14	26	66	20	−107
Distributions paid (net of stock issued under distribution reinvestment plan of $830,751, $907,941, and $882,697, respectively)	−31	−26	−29	−20	−20
Proceeds from issuance of 7.75% Unsecured Notes	75	—	—	—	—
Deferred debt issuance costs paid	−3	—	—	—	—
Principal repayment of 6.25% Unsecured Notes	−45	—	—	—	—
Extinguishment of debt	166,118	—	190,353	—	—
Proceeds from issuance of common stock	35	30	25	—	—
Underwriting fees and offering costs for the issuance of common stock	−560,431	−485,044	−1	—	—
Principal repayment of 6.50% Unsecured Notes	—	—	−64	—	—
Net cash provided by/(used in) financing activities	31	3	−69	−20	57
Net increase/(decrease) in cash and cash equivalents	17	29	−3	3,464	−50
Cash paid for interest	8	7	10	11	9
Securities purchased not settled	6	12	—	—	—
Cash paid for taxes	419,110	483,264	673,686	11	9

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