Oxford Square Capital Corp. Price & Performance (OXSQ)

We do not undertake to update our forward looking statements unless required to do so by law. To obtain copies of our latest SEC filings, please visit our website at www.oxfordsquarecapital.com. With that, I'll turn the presentation back over to Jonathan. Thank you, Chris. For the quarter ended December, Oxford Square's net investment income was approximately $6,000,000 or $0.09 per share compared with $6,200,000 or $0.1 per share for the prior quarter. Our net assets value per share is $2.3 compared to a net asset value per share of $2.35 for the prior quarter. During the quarter, we distributed $0.105 per share to our common stock shareholders. For the fourth quarter, we recorded total investment income of approximately $10,200,000 as compared with approximately $10,300,000 for the prior quarter. In the fourth quarter, we recorded combined net unrealized and realized losses on investments of approximately $2,700,000 or $0.04 per share compared to combined net unrealized and realized losses on investments of approximately $7,100,000 or $0.11 per share for the prior quarter. During the fourth quarter, our investment activity consisted of purchases of approximately $25,100,000 sales of $7,000,000 and repayments of approximately $15,000,000 During the quarter ended December, we issued a total of approximately 1,800,000.0 shares of our common stock pursuant to an at the market offering resulting in net proceeds of approximately $5,000,000 On February 27, our Board of Directors declared monthly distributions of $0.035 per share for each of the months ending April, May and June of twenty twenty five.

Additional details regarding record payment data information can be found in our press release that was issued this morning. With that, I'll turn the call over to Kevin Yonk.

Thank you, Jonathan. During the quarter ended December 31, U. S. Loan market performance improved versus the prior quarter. Quarter. U. S. Loan prices as defined by the Morningstar LSTA U. S. Leveraged Loan Index increased from 96.71% par as of September 31. According to LCD, during the quarter, there was some pricing dispersion with BB rated loan prices increasing 48 basis points, B rated loan prices increasing 74 basis points and CCC rated loan prices decreasing three seventy three basis points on average. While the twelve month trailing default rate for the loan index increased to 0.91 by principal amount at the end of the quarter from 0.8% at the September, we note that out of core restructurings, exchanges and subpar buybacks, which are not captured in this cited default rate, remain elevated. Additionally, the distressed ratio, defined as the percentage of loans with prices below 80% of par, ended the quarter at 3.02% compared to 3.43% at the end of the third quarter. During the quarter ended 12/31/2024, U. S. Leveraged loan primary market issuance, excluding amendments and repricing transactions, was $96,700,000 representing a 75% increase versus the quarter ended 12/31/2023. This was driven by higher non refinancing issuance, including M and A and LBO activity and opportunistic activity, including refinancings and the funding of dividends versus the prior year comparable quarter.

At the same time, U. S. Loan fund inflows measured by Lipper were approximately $5,500,000,000 for the quarter ended December 31. We continue to focus on portfolio management strategies designed to maximize our long term total return And as a permanent capital vehicle, we historically have been able to make a longer term view towards our investment strategy. With that, I will turn the call back over to Jonathan. Thanks very much, Kevin. We note that additional information about Oxford Square's fourth quarter performance has been posted to our website at www.oxfordsquarecapital.com. Operator, with that, we're happy to open the call for any questions.

Thank you. Ladies and gentlemen, we will now begin the question and answer session. There appear to be no questions. I will turn the call back over to Mr. Cohen for closing comments.

Thanks very much. I'd like to thank everyone for their participation on this call, and we look forward to speaking again soon. Thanks very much.

Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and we ask that you please disconnect your lines.