Unassociated Document
Filed
pursuant to Rule 497(a)(1)
File
No. 333-167803
Rule
482 AD
Oxford
Lane Capital Corp. Prices Initial Public Offering
Greenwich,
CT -- 01/20/2011 – Oxford Lane Capital Corp. (the “Company”) (NasdaqGS: OXLC)
announced that it has priced its initial public offering of 1,825,000 shares of
its common stock at a public offering price of $20.00 per share for total gross
proceeds of $36.5 million. The closing of the offering is subject to
customary closing conditions and is expected to take place on January 25, 2011.
The Company has granted the underwriters an option to purchase up to an
additional 273,750 shares of its common stock to cover over-allotments, if
any.
Ladenburg
Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services
Inc. (NYSE Amex: LTS), is acting as the sole bookrunning manager and
representative of the several underwriters for the offering. National Securities
Corporation is acting as lead manager for the offering, and Maxim Group LLC,
Boenning and Scattergood Inc., and Newbridge Securities Corp. are acting as
co-managers for the offering.
The
Company plans to 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, and
other expenses such as due diligence expenses of potential new
investments.
This
press release does not constitute an offer to sell or the solicitation of an
offer to buy the securities in this offering or any other securities nor will
there be any sale of these securities or any other securities referred to in
this press release in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction. A registration statement relating to these securities
was filed with, and has been declared effective by, the Securities and Exchange
Commission.
The
offering may be made only by means of a prospectus, copies of which may be
obtained when available from Ladenburg Thalmann & Co. Inc., Attn: Syndicate
Department, 58 South Service Road, Suite 160, Melville, NY 11747, (telephone
number 631-270-1600). Investors should consider the investment objective,
risks, and charges and expenses of the Company carefully before investing.
The prospectus, dated January 19, 2011, which will be filed with the Securities
and Exchange Commission, contains this and other information about the
Company. Investors should read the prospectus carefully before
investing.
About
Oxford Lane Capital Corp.
Oxford
Lane Capital Corp. is a publicly-traded registered closed-end management
investment company. We seek to achieve our investment objective by investing
primarily in senior secured loans made to companies whose debt is unrated or is
rated below investment grade, with an emphasis on current
income. Those investments may take a variety of forms, including the
direct purchases of senior loans (either in the primary or secondary markets) or
through investments in entities that in turn own a pool of senior
loans.
Forward-Looking
Statements
This
press release contains forward-looking statements subject to the inherent
uncertainties in predicting future results and conditions, including statements
with regard to the anticipated use of the net proceeds of the Company’s
securities offering. Any statements that are not statements of historical fact
(including statements containing the words “believes,” “plans,” “anticipates,”
“expects,” “estimates” and similar expressions) should also be considered to be
forward-looking statements. Certain factors could cause actual results and
conditions to differ materially from those projected in these forward-looking
statements. These factors are identified from time to time in our filings with
the Securities and Exchange Commission, including the prospectus dated January
19, 2011. We undertake no obligation to update such statements to
reflect subsequent events.
Contact:
Bruce
Rubin
203-983-5280