Oxford Square Capital Corp. Q1 FY2024 earnings call

• Net investment income and total investment income changed compared to prior quarter.
• Net unrealized depreciation and realized losses had different figures between quarters.
• Investment activity included purchases, sales, and repayments.
• Common stock was issued via at-the-market offering.
• U.S. loan market performance improved with loan prices increasing, default rate decreasing, distress ratio changing, primary market issuance up, and fund inflows noted.
• Focus on portfolio management strategies to maximize long-term total return as a permanent capital vehicle.

For the quarter ended March 31, Oxford Square's net investment income was approximately $6.5 million or $0.11 per share compared with $7.8 million or $0.13 per share in the prior quarter. Total investment income was approximately $10.7 million in the first quarter compared to approximately $12.2 million in the prior quarter. Net unrealized depreciation on investments was approximately $210,000 in the first quarter compared to net unrealized depreciation of approximately $14.8 million in the prior quarter. Realized losses were approximately $8.1 million or $0.14 per share in the first quarter compared to realized losses of approximately $270,000 in the prior quarter. Investment activity during the first quarter consisted of purchases of approximately $12.1 million, sales of approximately $1.4 million and repayments of approximately $17.9 million. Approximately 324,000 shares of common stock were issued pursuant to an at-the-market offering, resulting in net proceeds of approximately $924,000.

On April 25, 2024, the Board of Directors declared monthly distributions of $0.035 per share for each of the months ending July, August and September of 2024.

Today's conference call includes forward-looking statements and projections. Important factors that could cause actual results to differ materially from those indicated in these projections can be found in the company's most recent filings with the SEC. The company does not undertake to update forward-looking statements unless required to do so by law.

Q: No questions at this time A: No questions at this time