Oxford Lane Capital Prices 2.8 Mln Shares Offering At $17/shr - Quick Facts

(RTTNews) - Oxford Lane Capital Corp. (OXLC, OXLCP, OXLCO) reported pricing an underwritten public offering of 2.80 million common shares at a $17.00 per share price, raising $47.6 million in gross proceeds.

In addition, the underwriters were granted a 30-day option to buy up to an additional 420,000 shares. The firm would use the net proceeds of this offering for acquiring investments and for general working capital purposes, which may include the payment of operating expenses, including advisory and administrative fees and expenses.

The transaction closure is subject to customary closing conditions, and the shares are likely to be delivered on March 14, 2014. Deutsche Bank Securities and Ladenburg Thalmann & Co. Inc. are acting as the joint bookrunning managers for the offering.