Oxford Square Capital Corp. Q2 FY2024 earnings call

• Jonathan Cohen noted net investment income, net asset value, distributions, total investment income, and investment activity details. - Kevin Yonon discussed U.S. loan market performance, including loan price changes, default rates, distress ratio, primary market issuance (which was $145 billion, a 204% increase vs prior year), and U.S. loan fund inflows ($4.6 billion for the quarter).

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. Net asset value per share stood at $2.43 compared to $2.42 for 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 included purchases of approximately $28.8 million, sales of approximately $3.4 million, and repayments of approximately $15.8 million. Approximately 2.9 million shares of common stock were issued pursuant to an at-the-market offering, resulting in net proceeds of approximately $8.9 million.

On August 8, the Board of Directors declared monthly distributions of $0.035 per share for each of the months ending November, October and December of 2024.