Oxford Square Capital Corp. — Form 8-K
Filed July 31, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
Oxford Square Capital reported Q2 2026 NAV of $1.29/share (down from $1.32 at Q1 2026 and $1.69 at year-end 2025). NII was $5.1M ($0.05/share) for Q2; total investment income $9.4M. Company issued 11.3M shares via ATM offering (net proceeds $17.8M), bringing shares outstanding to 105.1M. Board declared $0.035/share distributions for October, November, and December 2026. Portfolio weighted average credit rating improved to 2.1 (from 2.2 prior quarter). Year-to-date 2026 NAV declined 23.7% from $1.69/share; market value down 25% YTD. Realized losses of $5.2M in Q2 offset unrealized appreciation of $4.1M.
Why this rating
NAV declining sharply (23.7% YTD) and below market price signals distress. Realized losses, dilutive share issuance (11.3M shares; 13% of prior base), and $6.9M non-accrual investment are concerning. However, quarterly NII remains positive and distributions sustained. Material relative to $155.5M market cap but typical closed-end fund volatility.
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