Oxford Square Capital Corp. (OXSQ) reported its financial results for the second quarter of 2025, revealing a total investment income of approximately $9.5 million, a decrease from $11.4 million in the same period last year. For the six months ending June 30, 2025, total investment income was about $19.7 million, down from $22.1 million in the prior year. The decline in income was primarily attributed to a reduction in interest income, which fell to $5.1 million for the quarter compared to $7.0 million in the previous year. The company’s net investment income for the quarter was approximately $5.5 million, translating to $0.08 per share, down from $7.7 million or $0.13 per share in the same quarter of 2024.
The company’s total assets decreased to $274.8 million as of June 30, 2025, from $299.7 million at the end of 2024. This decline was driven by a reduction in non-affiliated investments, which fell to $241.5 million from $256.2 million. The company also reported a decrease in net assets, which stood at $157.4 million, down from $160.7 million at the end of the previous fiscal year. The net asset value per share decreased to $2.06 from $2.30, reflecting the overall decline in asset values.
In terms of operational developments, Oxford Square Capital made strategic moves by redeeming $10 million of its 6.25% Unsecured Notes in June 2025, which contributed to a reduction in total liabilities to $117.4 million from $139.1 million at the end of 2024. The company also raised approximately $15.1 million through the issuance of common stock under its at-the-market offering program during the first half of 2025. The total number of shares outstanding increased to 76.2 million, up from 69.8 million at the end of 2024.
The company’s investment portfolio as of June 30, 2025, included approximately $146.8 million in senior secured notes and $89.3 million in CLO equity investments. The weighted average yield on debt investments was reported at 14.46%. Despite the challenges in the market, the company maintained a strong asset coverage ratio of 235% for its borrowings, indicating a solid financial position. Looking ahead, Oxford Square Capital aims to continue maximizing its total return by focusing on corporate debt securities and CLO investments, while navigating the current economic landscape marked by interest rate volatility and market uncertainties.
About Oxford Square Capital Corp.
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