Oxford Lane Capital Corp. Provides January Net Asset Value Update
05 February 2021 - 12:00AM
Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCO)
(NasdaqGS: OXLCM) (NasdaqGS: OXLCP) today announced the following
net asset value (“NAV”) estimate as of January 31, 2021.
-
Management’s unaudited estimate of the range of the NAV per share
of our common stock as of January 31, 2021 is between $5.84 and
$5.94. This estimate is not a comprehensive statement of our
financial condition or results for the month ended January 31,
2021. This estimate did not undergo the Company’s typical
quarter-end financial closing procedures and was not approved by
the Company’s board of directors. We advise you that our NAV per
share for the quarter ending March 31, 2021 may differ materially
from this estimate, which is given only as of January 31,
2021.
- As of
January 31, 2021, the Company had approximately 92.9 million shares
of common stock issued and outstanding.
We believe that the COVID-19 pandemic represents
an extraordinary circumstance that materially impacts the fair
value of and prospective cash flows from the Company’s investments.
As a result, the fair value of the Company’s portfolio investments
may be materially impacted after January 31, 2021 by circumstances
and events that are not yet known. To the extent the Company’s
portfolio investments are further impacted by the effects of the
COVID-19 pandemic, the Company may experience a material impact on
its future net investment income, the fair value of its portfolio
investments, its financial condition and the financial condition of
its portfolio investments.
The preliminary financial data included in this
press release has been prepared by, and is the responsibility
of, Oxford Lane Capital Corp.'s management.
PricewaterhouseCoopers LLP has not audited, reviewed, compiled, or
applied agreed-upon procedures with respect to the preliminary
financial data. Accordingly, PricewaterhouseCoopers LLP does
not express an opinion or any other form of assurance with respect
thereto.
About Oxford Lane Capital Corp.
Oxford Lane Capital Corp. is a publicly-traded
registered closed-end management investment company principally
investing in debt and equity tranches of CLO vehicles. CLO
investments may also include warehouse facilities, which are
financing structures intended to aggregate loans that may be used
to form the basis of a CLO vehicle.
Forward-Looking Statements
This press release contains forward-looking
statements subject to the inherent uncertainties in predicting
future results and conditions. Any statements that are not
statements of historical fact (including statements containing the
words “believes,” “plans,” “anticipates,” “expects,” “estimates”
and similar expressions) should also be considered to be
forward-looking statements. These statements are not guarantees of
future performance, conditions or results and involve a number of
risks and uncertainties, including the impact of COVID-19 and
related changes in base interest rates and significant market
volatility on our business, our portfolio companies, our industry
and the global economy. Certain factors could cause actual results
and conditions to differ materially from those projected in these
forward-looking statements. These factors are identified from time
to time in our filings with the Securities and Exchange Commission.
We undertake no obligation to update such statements to reflect
subsequent events, except as may be required by law.
Contact:Bruce Rubin203-983-5280
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