Oxford Lane Capital . - Term Preferred Shares 8.50% Series 2017 Stock Earnings Reports

Oxford Lane reported Q1 fiscal 2026 results with NAV per share of $4.12 (down from $4.32). GAAP total investment income was about $124 million, driven mainly by CLO equity and warehouse positions; GAAP net investment income was $75.1 million ($0.16/share) and core net investment income was $112.4 million ($0.24/share). The firm has ~ $701.5 million of newly issued/acquired CLO equity positions that have not yet paid initial distributions. During the quarter Oxford Lane issued ~25.8 million common shares via an ATM, raising net proceeds of ~$116.4 million, and invested approximately $441.8 million in additional CLO equity, debt and warehouses while receiving ~$120.7 million from sales/repayments. Portfolio yields: weighted average yield on CLO debt was 16.9% (up from 15.9%); weighted average effective yield on CLO equity was 14.7% (down from 15.9%); cash distribution yield on CLO equity was 21.6% (up from 20.5%). The company recorded $40.2 million of net unrealized depreciation and $8.8 million of realized losses for the quarter, resulting in a net increase in net assets from operations of $26.1 million ($0.06/share). Oxford Lane emphasized an opportunistic, unconstrained CLO strategy across primary, secondary, warehouses and resets/refis, and extended the weighted average reinvestment period of its CLO equity portfolio from November 2028 to January 2029. On July 22 the Board authorized a 1-for-5 reverse stock split and declared monthly common distributions of $0.08/share for Oct–Dec 2025. Management reiterated focus on total return generation and noted continued robust CLO issuance and active market participation.