Oxford Square Capital公佈第二季業績 維持每月每股0.035美元分派

EX-99.1
2
ea0299938-01_ex991.htm
EXHIBIT 99.1

 

Exhibit 99.1

 

Oxford Square Capital Corp. Announces Net Asset
Value and Selected Financial Results for the Quarter Ended June 30, 2026 and Declaration of Distributions on Common Stock for the Months
Ending October 31, November 30, and December 31, 2026.

 

GREENWICH, CT – 7/31/2026 – Oxford Square Capital Corp.
(NasdaqGS: OXSQ) (NasdaqGS: OXSQG) (NasdaqGS: OXSQH) (the “Company,” “we,” “us” or “our”)
announced today its financial results and related information for the quarter ended June 30, 2026.

 

·On July 29, 2026, our Board of Directors declared the following distributions on our common stock:

 

 
 Month Ending
 Record Date
 Payment Date
 Amount Per Share

 
 October 31, 2026
 October 16, 2026
 October 30, 2026
 $0.035

 
 November 30, 2026
 November 16, 2026
 November 30, 2026
 $0.035

 
 December 31, 2026
 December 17, 2026
 December 31, 2026
 $0.035

 

·Net asset value (“NAV”) per share as of June 30, 2026 stood at $1.29, compared with a NAV per share on March 31, 2026
of $1.32.

 

·Net investment income (“NII”) was approximately $5.1 million, or $0.05 per share, for the quarter ended June 30, 2026,
compared with approximately $4.1 million, or $0.05 per share, for the quarter ended March 31, 2026.

 

·Total investment income for the quarter ended June 30, 2026 amounted to approximately $9.4 million, compared with approximately $8.9
million for the quarter ended March 31, 2026.

 

oFor the quarter ended June 30, 2026 we recorded investment income from our portfolio as follows:

 

§$5.4 million from our debt investments;

 

§$3.5 million from our CLO equity investments; and

 

§$0.5 million from other income.

 

·Our total expenses for the quarter ended June
30, 2026 were approximately $4.3 million, compared with total expenses of approximately $4.8 million for the quarter ended March 31, 2026.

 

·As of June 30, 2026, the following metrics applied (note that none of these metrics represented a total return to shareholders):

oThe weighted average yield of our debt investments was 14.9% at current cost, compared with 14.7% as of
March 31, 2026;

 

oThe weighted average effective yield of our CLO equity investments at current cost was 8.1%, compared
with 7.3% as of March 31, 2026;

 

oThe weighted average cash distribution yield of our cash income producing senior secured note investments
at current cost was 8.0%, compared with 8.0% as of March 31, 2026; and

 

oThe weighted average cash distribution yield of our cash income producing CLO equity investments at current
cost was 12.4%, compared with 13.6% as of March 31, 2026.

 

·For the quarter ended June 30, 2026, we recorded a net increase in net assets resulting from operations of approximately $4.0 million,
consisting of:

oNII of approximately $5.1 million;

oNet realized losses of approximately $5.2 million; and

oNet unrealized appreciation of approximately $4.1 million. 

 

·During the second quarter of 2026, our investment activity consisted of purchases of approximately $19.9
million and repayments of approximately $0.5 million. No sales were made during the quarter.

 

·Our weighted average credit rating was 2.1 based
on total fair value and 2.2 based on total principal amount as of June 30, 2026, compared with a weighted average credit rating of 2.2
based on total fair value and 2.4 based on total principal amount as of March 31, 2026.

 

·As of June 30, 2026, our preferred equity investments in one of our portfolio companies were on non-accrual
status, which had an aggregate fair value of approximately $6.9 million.

 

·For the quarter ended June 30, 2026, we issued a total of approximately 11.3 million shares of common stock pursuant to an “at-the-market”
offering. After deducting the sales agent’s commissions and offering expenses, this resulted in net proceeds of approximately $17.8
million. As of June 30, 2026, we had approximately 105.1 million shares of common stock outstanding.

 

We will hold a conference call to discuss second quarter results today,
Friday, July 31st, 2026 at 9:00 AM ET. The toll-free dial-in number is 1-800-715-9871, access code number 8149397. There will
be a recording available for 30 days. If you are interested in hearing the recording, please dial 1-800-770-2030. The replay pass-code
is 8149397#.

 

A presentation containing further detail regarding our quarterly results
of operations has been posted under the Investor Relations section of our website at www.oxfordsquarecapital.com.

 

  

  

 

 

OXFORD SQUARE CAPITAL CORP.

 

STATEMENTS OF ASSETS AND LIABILITIES

 

 
   
 June 30, 2026  
 December 31, 2025 

 
   
 (Unaudited)  
   

 
 ASSETS 
    
   

 
 Non-affiliated/non-control investments (cost: $386,379,336 and $390,403,599, respectively) 
 $252,842,694  
 $251,731,345 

 
 Cash equivalents (cost of $32,770,267 and $51,236,068, respectively) 
  32,770,267  
  51,236,068 

 
 Cash 
  1,837,775  
  698,579 

 
 Interest and distributions receivable 
  1,933,335  
  2,002,161 

 
 Other assets 
  1,220,982  
  1,070,958 

 
 Total assets 
 $290,605,053  
 $306,739,111 

 
 LIABILITIES 
     
    

 
 Notes payable – 5.50% Unsecured Notes, net of deferred issuance costs of $804,888 and $996,075 respectively 
 $79,695,112  
 $79,503,925 

 
 Notes payable – 7.75% Unsecured Notes, net of deferred issuance costs of $2,338,027 and $2,621,662 respectively 
  72,411,973  
  72,128,338 

 
 Accrued interest payable 
  1,703,438  
  1,703,438 

 
 Base Fee and Net Investment Income Incentive Fee payable to affiliate 
  961,643  
  1,036,058 

 
 Accrued expenses 
  804,942  
  1,017,581 

 
 Securities purchased not settled 
  —  
  5,944,969 

 
 Total liabilities 
  155,577,108  
  161,334,309 

 
   
     
    

 
 NET ASSETS 
     
    

 
 Common stock, $0.01 par value, 300,000,000 shares authorized; 105,058,242 and 86,060,964 shares issued and outstanding, respectively 
  1,050,583  
  860,610 

 
 Capital in excess of par value 
  553,787,659  
  523,040,484 

 
 Total distributable earnings/(accumulated losses) 
  (419,810,297) 
  (378,496,292)

 
 Total net assets 
  135,027,945  
  145,404,802 

 
 Total liabilities and net assets 
 $290,605,053  
 $306,739,111 

 
 Net asset value per common share 
 $1.29  
 $1.69 

 

 

  

  

 

 

OXFORD SQUARE CAPITAL CORP.

 

STATEMENTS OF OPERATIONS
(Unaudited)

 

 
   
 Three Months Ended June 30, 2026  
 Three Months Ended June 30, 2025  
 Six Months Ended June 30, 2026  
 Six Months Ended June 30, 2025 

 
 INVESTMENT INCOME 
    
    
    
   

 
 From non-affiliated/non-control investments: 
    
    
    
   

 
 Interest income – debt investments(1) 
 $4,535,789  
 $4,228,193  
 $8,854,539  
 $9,054,597 

 
 Interest income – debt investments – payment-in-kind (“PIK”)(1) 
  896,600  
  857,257  
  1,683,522  
  1,565,608 

 
 Income from securitization vehicles and investments 
  3,508,746  
  3,855,072  
  6,732,944  
  7,811,125 

 
 Other income 
  460,958  
  581,659  
  1,073,766  
  1,251,901 

 
 Total investment income from non-affiliated/ non-control investments 
  9,402,093  
  9,522,181  
  18,344,771  
  19,683,231 

 
 Total investment income 
  9,402,093  
  9,522,181  
  18,344,771  
  19,683,231 

 
 EXPENSES 
     
     
     
    

 
 Interest expense 
  2,793,880  
  1,929,045  
  5,585,135  
  3,888,332 

 
 Base Fee 
  961,643  
  1,036,312  
  1,952,274  
  2,095,097 

 
 Professional fees 
  441,487  
  444,251  
  788,114  
  767,703 

 
 Compensation expense 
  232,163  
  228,296  
  479,093  
  467,873 

 
 General and administrative 
  358,743  
  360,127  
  671,409  
  715,386 

 
 Excise tax 
  (523,888) 
  24,585  
  (419,110) 
  145,401

 
 Total expenses before incentive fees 
  4,264,028  
  4,022,616  
  9,056,915  
  8,079,792 

 
 Net Investment Income Incentive Fees 
  —  
  —  
  —  
  — 

 
 Total incentive fees 
  —  
  —  
  —  
  — 

 
 Total expenses 
  4,264,028  
  4,022,616  
  9,056,915  
  8,079,792 

 
 Net investment income 
  5,138,065  
  5,499,565  
  9,287,856  
  11,603,439 

 
 NET CHANGE IN UNREALIZED APPRECIATION/(DEPRECIATION) AND NET REALIZED LOSSES ON INVESTMENT TRANSACTIONS 
     
     
     
    

 
 Net change in unrealized appreciation/(depreciation) on investments: 
     
     
     
    

 
 Non-Affiliate/non-control investments 
  4,071,759  
  1,253,135  
  5,135,612  
  (813,761)

 
 Total net change in unrealized appreciation/(depreciation) on investments 
  4,071,759  
  1,253,135  
  5,135,612  
  (813,761)

 
 Net realized losses: 
     
     
     
    

 
 Non-affiliated/non-control investments 
  (5,216,274) 
  (2,321,562) 
  (35,954,739) 
  (14,480,057)

 
 Extinguishment of debt 
  —  
  (45,781) 
  —  
  (45,781)

 
 Total net realized losses 
  (5,216,274) 
  (2,367,343) 
  (35,954,739) 
  (14,525,838)

 
 Net change in unrealized and realized losses 
  (1,144,515) 
  (1,114,208) 
  (30,819,127) 
  (15,339,599)

 
 Net increase/(decrease) in net assets resulting from operations 
 $3,993,550  
 $4,385,357  
 $(21,531,271) 
 $(3,736,160)

 
 Net increase in net assets resulting from net investment income per common share (Basic and Diluted): 
 $0.05  
 $0.08  
 $0.10  
 $0.16 

 
 Net increase/(decrease) in net assets resulting from operations per common share (Basic and Diluted): 
 $0.04  
 $0.06  
 $(0.23) 
 $(0.05)

 
 Weighted average shares of common stock outstanding (Basic and Diluted): 
  99,273,482  
  73,243,091  
  93,806,171  
  71,622,922 

 
 Distributions per share 
 $0.105  
 $0.105  
 $0.210  
 $0.210 

 

 

 

(1)Change in prior period was made to conform to the current period
presentation.

 

  

  

 

 

FINANCIAL HIGHLIGHTS (Unaudited)

 

Financial highlights for the three and six months
ended June 30, 2026 and 2025, respectively, are as follows:

 

 
   
 Three Months Ended June 30, 2026  
 Three Months Ended June 30, 2025  
 Six Months Ended June 30, 2026  
 Six Months Ended June 30, 2025 

 
 Per Share Data 
    
    
    
   

 
 Net asset value at beginning of period 
 $1.32  
 $2.09  
 $1.69  
 $2.30 

 
 Net investment income(1) 
  0.05  
  0.08  
  0.10  
  0.16 

 
 Net realized and unrealized (losses)/gains(2) 
  —  
  (0.02) 
  (0.32) 
  (0.21)

 
 Net (decrease)/increase in net asset value from operations 
  0.05  
  0.06  
  (0.22) 
  (0.05)

 
 Distributions per share from net investment income(3) 
  (0.11) 
  (0.11) 
  (0.21) 
  (0.21)

 
 Tax return of capital distributions(3) 
  —  
  —  
  —  
  — 

 
 Total distributions 
  (0.11) 
  (0.11) 
  (0.21) 
  (0.21)

 
 Effect of shares issued 
  0.03  
  0.02  
  0.03  
  0.02 

 
 Net asset value at end of period 
 $1.29  
 $2.06  
 $1.29  
 $2.06 

 
 Per share market value at beginning of period 
 $1.77  
 $2.61  
 $1.76  
 $2.44 

 
 Per share market value at end of period 
 $1.32  
 $2.23  
 $1.32  
 $2.23 

 
 Total return based on Market Value(4) 
  (19.75)% 
  (10.49)% 
  (14.23)% 
  (0.30)%

 
 Total return based on Net Asset Value(5) 
  5.68% 
  3.59% 
  (11.24)% 
  (1.30)%

 
 Shares outstanding at end of period 
  105,058,242  
  76,236,738  
  105,058,242  
  76,236,738 

 
   
     
     
     
    

 
 Ratios/Supplemental Data 
     
     
     
    

 
 Net assets at end of period (000’s) 
 $135,028  
 $157,423  
 $135,028  
 $157,423 

 
 Average net assets (000’s) 
 $129,465  
 $152,126  
 $130,642  
 $152,806 

 
 Ratio of expenses to average net assets(6) 
  14.39% 
  10.78% 
  14.19% 
  10.62%

 
 Ratio of expenses, excluding interest expense, to average net assets(6) 
  5.76% 
  5.70% 
  5.64% 
  5.53%

 
 Ratio of net investment income to average net assets(6) 
  14.66% 
  14.26% 
  13.90% 
  15.15%

 
 Portfolio turnover rate(7) 
  0.19% 
  —% 
  0.35% 
  6.40%

 

 

 

(1)Represents per share net investment income for the period, based
upon weighted average shares outstanding.

(2)Net realized and unrealized gains/(losses) include rounding
adjustments to reconcile change in net asset value per share.

(3)Management monitors available taxable earnings, including net
investment income and realized capital gains, to determine if a tax return of capital may occur for the year. To the extent the Company’s
taxable earnings fall below the total amount of the Company’s distributions for that fiscal year, a portion of those distributions
may be deemed a tax return of capital to the Company’s stockholders. The ultimate tax character of the Company’s earnings
cannot be determined until tax returns are prepared after the end of the fiscal year. The amounts and sources of distributions reported
are only estimates (based on an average of the reported tax character historically) and are not being provided for U.S. tax reporting
purposes. For each of the three-month periods ended June 30, 2026 and 2025, distributions were $0.105 per share and are presented as
$0.11 per share due to rounding.

(4)Total return based on market value equals the increase or decrease
of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming distribution
reinvestment prices obtained under the Company’s distribution reinvestment plan. Total return is not annualized.

(5)Total return based on net asset value equals the increase or
decrease of ending net asset value over beginning net asset value, plus distributions, divided by the beginning net asset value. Total
return is not annualized.

(6)Annualized and adjusted for one-time excise tax reversals in
the current quarter.

(7)Portfolio turnover rate is calculated using the lesser of the
year-to-date investment sales and debt repayments or year-to-date investment purchases over the average of the total investments at fair
value.

 

About Oxford Square Capital Corp.

 

Oxford Square Capital Corp. is a publicly-traded business development company principally investing in syndicated bank loans and,
to a lesser extent, debt and equity tranches of collateralized loan obligation (“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.
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 Rubin

203-983-5280