Oxford Square Capital Corp. 5.50% Notes due 2028 Q2 FY2024 earnings call

• Net investment income increased from the prior quarter.
• Net asset value per share stood at $2.43 compared to $2.42 in the prior quarter.
• Total investment income rose in the second quarter.
• Net unrealized and realized losses on investments decreased from the prior quarter.
• Investment activity included purchases, sales, and repayments.
• Issued shares via an at-the-market offering.
• Board declared future distributions.
• U.S. loan market performance: modest weakening, loan prices decreased, 12-month trailing market default rate changed, distress ratio increased, primary market issuance increased, and U.S. loan fund inflows occurred.

For the quarter ended June, Oxford Square's net investment income was approximately $7.7 million or $0.13 per share compared with $6.5 million or $0.11 per share in the prior quarter. Total investment income was approximately $11.4 million in the second quarter compared to approximately $10.7 million in the prior quarter. Net unrealized and realized losses on investments were approximately $2.5 million or $0.04 per share in the second quarter compared to $8.3 million or $0.14 per share in the prior quarter. Investment activity during the quarter consisted of purchases of approximately $28.8 million, sales of approximately $3.4 million, and repayments of approximately $15.8 million. The company issued approximately 2.9 million shares of common stock pursuant to an at-the-market offering, resulting in net proceeds of approximately $8.9 million. The Board of Directors declared monthly distributions of $0.035 per share for each of the months ending November, October, and December of 2024.

• The Board of Directors declared monthly distributions of $0.035 per share for each of the months ending November, October, and December of 2024.

• Factors that could cause actual results to differ materially from forward-looking statements, as outlined in the most recent filings with the SEC, and the company does not undertake to update forward-looking statements unless required by law.