Oxford Square Capital Corp. Q3 FY2024 earnings call

• Net investment income and net asset value per share changed from prior quarter.
• Total investment income and combined net unrealized/realized losses on investments differed from prior quarter.
• Investment activity included purchases, repayments, and share issuance.
• U.S. loan market performance: loan prices increased, default rate decreased but out-of-court restructurings etc. remained elevated, distress ratio improved, primary market issuance increased 45% vs prior year, and loan fund outflows occurred.
• Focus on portfolio management strategies to maximize long-term total return.

For the quarter ended September, Oxford Square's net investment income was approximately $6.2 million or $0.10 per share compared with $7.7 million or $0.13 per share in the prior quarter. Net asset value per share stood at $2.35 compared to $2.43 in the prior quarter. Total investment income was approximately $10.3 million in the third quarter vs approximately $11.4 million in the prior quarter. Combined net unrealized and realized losses on investments were approximately $7.1 million or $0.11 per share in the third quarter vs approximately $2.5 million or $0.04 per share in the prior quarter. During the quarter, purchases of approximately $47.7 million and repayments of approximately $27.9 million were made. Approximately 5.1 million shares of common stock were issued pursuant to an at-the-market offering, resulting in net proceeds of approximately $14.5 million. The Board declared monthly distributions of $0.035 per share for January, February, and March 2025.

• Board of Directors declared monthly distributions of $0.035 per share for each of the months ending January, February, and March of 2025.

• Factors causing actual results to differ from projections as per forward-looking statements.
• Elevated out-of-court restructurings, exchanges, and subpar buybacks not captured in cited default rate.

Q: A: Q: A: Operator indicated no questions in the queue