Oxford Square Capital Corp. Announces Net Asset Value And Selected Financial Results For The Quarter Ended December 31, 2025 And Declaration Of Distributions On Common Stock For The Months Ending April 30, May 31, And June 30, 2026

(MENAFN- GlobeNewsWire - Nasdaq) GREENWICH, Conn., March 03, 2026 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQG) (NasdaqGS: OXSQH) (the“Company,”“we,”“us” or“our”) announced today its financial results and related information for the quarter ended December 31, 2025.

• On February 26, 2026, our Board of Directors declared the following distributions on our common stock:
  

Month Ending	Record Date	Payment Date	Amount Per Share
April 30, 2026	April 16, 2026	April 30, 2026	$0.035
May 31, 2026	May 15, 2026	May 29, 2026	$0.035
June 30, 2026	June 16, 2026	June 30, 2026	$0.035

• Net asset value (“NAV”) per share as of December 31, 2025 stood at $1.69, compared with a NAV per share on September 30, 2025 of $1.95.
  

• Net investment income (“NII”) was approximately $5.4 million, or $0.07 per share, for the quarter ended December 31, 2025, compared with approximately $5.6 million, or $0.07 per share, for the quarter ended September 30, 2025.
  
• Total investment income for the quarter ended December 31, 2025 amounted to approximately $10.4 million, compared with approximately $10.2 million for the quarter ended September 30, 2025.
  • For the quarter ended December 31, 2025 we recorded investment income from our portfolio as follows:
    • $5.3 million from our debt investments;
    • $4.3 million from our CLO equity investments; and
    • $0.8 million from other income.
• Our total expenses for the quarter ended December 31, 2025 were approximately $5.0 million, compared with total expenses of approximately $4.7 million for the quarter ended September 30, 2025.
• As of December 31, 2025, the following metrics applied (note that none of these metrics represented a total return to shareholders):
  • The weighted average yield of our debt investments was 14.5% at current cost, compared with 14.6% as of September 30, 2025;
  • The weighted average effective yield of our CLO equity investments at current cost was 8.6%, compared with 9.7% as of September 30, 2025;
  • The weighted average cash distribution yield of our cash income producing senior secured note investments at current cost was 9.5%, which was approximately the same as of September 30, 2025; and
  • The weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 14.2%, compared with 14.3% as of September 30, 2025.
• For the quarter ended December 31, 2025, we recorded a net decrease in net assets resulting from operations of approximately $12.9 million, consisting of:
  • NII of approximately $5.4 million;
  • Net realized losses of approximately $2.3 million; and
  • Net unrealized depreciation of approximately $16.0 million.

• During the fourth quarter of 2025, our investment activity consisted of purchases of approximately $18.0 million and repayments of approximately $7.4 million. No sales were made during the quarter.
• Our weighted average credit rating was 2.2 based on total fair value and 2.3 based on total principal amount as of December 31, 2025, which was approximately the same as of September 30, 2025.
• As of December 31, 2025, our preferred equity investments in one of our portfolio companies were on non-accrual status, which had an aggregate fair value of approximately $5.0 million.
• For the quarter ended December 31, 2025, we issued a total of approximately 4.3 million shares of common stock pursuant to an“at-the-market” offering. After deducting the sales agent's commissions and offering expenses, this resulted in net proceeds of approximately $7.9 million. As of December 31, 2025, we had approximately 86.1 million shares of common stock outstanding.
  

We will hold a conference call to discuss fourth quarter results today, Tuesday, March 3^rd, 2026 at 9:00 AM ET. The toll-free dial-in number is 1-800-715-9871, access code number 4928384. There will be a recording available for 30 days. If you are interested in hearing the recording, please dial 1-800-770-2030. The replay pass-code number is 4928384.

A presentation containing further detail regarding our quarterly results of operations has been posted under the Investor Relations section of our website at .

OXFORD SQUARE CAPITAL CORP. STATEMENTS OF ASSETS AND LIABILITIES
		December 31, 2025		December 31, 2024
		(Unaudited)
ASSETS
Non-affiliated/non-control investments (cost: $390,403,599 and $358,356,496, respectively)		$	251,731,345			$	256,238,759
Affiliated investments (cost: $0 and $16,836,822, respectively)			-				4,614,100
Cash equivalents (cost of $51,236,068 and $34,433,088, respectively)			51,236,068				34,433,088
Cash			698,579				493,380
Interest and distributions receivable			2,002,161				2,724,049
Other assets			1,070,958				1,227,598
Total assets		$	306,739,111			$	299,730,974
LIABILITIES
Notes payable – 5.50% Unsecured Notes, net of deferred issuance costs of $996,075 and $1,381,619, respectively			79,503,925				79,118,381
Notes payable – 7.75% Unsecured Notes, net of deferred issuance costs of $2,621,662 and $0, respectively			72,128,338				-
Notes payable – 6.25% Unsecured Notes, net of deferred issuance costs of $0 and $309,812, respectively			-				44,480,938
Securities purchased, not settled			5,944,969				12,027,463
Accrued interest payable			1,703,438				1,204,487
Base Fee and Net Investment Income Incentive Fee payable to affiliate			1,036,058				1,215,964
Accrued expenses			1,017,581				1,018,261
Total liabilities			161,334,309				139,065,494
NET ASSETS
Common stock, $0.01 par value, 100,000,000 shares authorized; 86,060,964 and 69,758,938 shares issued and outstanding, respectively			860,610				697,590
Capital in excess of par value			523,040,484				487,943,476
Total distributable earnings/(accumulated losses)			(378,496,292	)			(327,975,586	)
Total net assets			145,404,802				160,665,480
Total liabilities and net assets		$	306,739,111			$	299,730,974
Net asset value per common share		$	1.69			$	2.30

OXFORD SQUARE CAPITAL CORP. STATEMENTS OF OPERATIONS
		Year Ended December 31, 2025		Year Ended December 31, 2024		Year Ended December 31, 2023
			(Unaudited)
INVESTMENT INCOME
From non-affiliated/non-control investments:
Interest income		$	21,091,225			$	24,929,287			$	33,592,166
Income from securitization vehicles and investments			16,452,752				15,403,586				16,796,699
Other income			2,794,896				2,350,332				1,435,316
Total investment income from non-affiliated/non-control investments			40,338,873				42,683,205				51,824,181
Total investment income			40,338,873				42,683,205				51,824,181
EXPENSES
Interest expense			9,244,234				7,847,320				10,825,877
Base Fee			4,184,721				4,310,484				4,613,664
Professional fees			1,557,637				1,537,434				1,426,098
Compensation expense			950,164				746,762				825,226
Director's fees			408,500				417,500				429,500
Insurance			267,450				308,552				329,892
Transfer agent and custodian fees			162,626				260,330				246,562
General and administrative			615,660				597,883				638,350
Excise tax			354,957				216,528				1,423,686
Total expenses before incentive fees			17,745,949				16,242,793				20,758,855
Net Investment Income Incentive Fees			-				-				3,705,387
Capital gains incentive fees			-				-				-
Total incentive fees			-				-				3,705,387
Total expenses			17,745,949				16,242,793				24,464,242
Net investment income			22,592,924				26,440,412				27,359,939
NET CHANGE IN UNREALIZED APPRECIATION/(DEPRECIATION) AND REALIZED GAINS/(LOSSES) ON INVESTMENT TRANSACTIONS
Net change in unrealized (depreciation)/appreciation on investments:
Non-Affiliate/non-control investments			(24,331,795	)			76,337,750				6,198,413
Affiliated investments			-				(661,992	)			926,274
Total net change in unrealized (depreciation)/appreciation on investments			(24,331,795	)			75,675,758				7,124,687
Net realized losses:
Non-affiliated/non-control investments			(16,826,078	)			(96,236,489	)			(17,056,245	)
Extinguishment of debt			(166,118	)			-				(190,353	)
Total net realized losses			(16,992,196	)			(96,236,489	)			(17,246,598	)
Net change in unrealized and realized losses			(41,323,991	)			(20,560,731	)			(10,131,911	)
Net (decrease)/increase in net assets resulting from operations.		$	(18,731,067	)		$	5,879,681			$	17,238,028
Net increase in net assets resulting from net investment income per common share (Basic and Diluted):		$	0.30			$	0.42			$	0.51
Net (decrease)/increase in net assets resulting from operations per common share (Basic and Diluted):		$	(0.25	)		$	0.09			$	0.32
Weighted average shares of common stock outstanding (Basic and Diluted):			76,432,486				63,465,255				53,919,104
Distributions per share		$	0.42			$	0.42			$	0.54

FINANCIAL HIGHLIGHTS

		Year Ended December 31, 2025		Year Ended December 31, 2024		Year Ended December 31, 2023		Year Ended December 31, 2022		Year Ended December 31, 2021
		(Unaudited)
Per Share Data
Net asset value at beginning of year		$	2.30			$	2.55				$	2.78				$	4.92			$	4.55
Net investment income(1)			0.30				0.42					0.51					0.42				0.32
Net realized and unrealized (losses)/gains(2)			(0.52	)			(0.33	)				(0.19	)				(2.14	)			0.47
Net (decrease)/increase in net assets resulting from operations			(0.22	)			0.09					0.32					(1.72	)			0.79
Distributions per share from net investment income			(0.42	)			(0.42	)				(0.54	)				(0.42	)			(0.42	)
Distributions based on weighted average share impact			-				-					(0.01	)				-				-
Tax return of capital distributions(3)			-				-					-					-				-
Total distributions			(0.42	)			(0.42	)				(0.55	)				(0.42	)			(0.42	)
Effect of shares issued, net of offering expenses			0.03				0.08					-					-				-
Effect of shares issued/repurchased, gross			-				-					-					-				-
Net asset value at end of year		$	1.69			$	2.30				$	2.55				$	2.78			$	4.92
Per share market value at beginning of year		$	2.44			$	2.86				$	3.12				$	4.08			$	3.05
Per share market value at end of year		$	1.76			$	2.44				$	2.86				$	3.12			$	4.08
Total return based on Market Value(4)			(11.92	)%			(1.64	)%				9.34	%				(14.11	)%			47.38	%
Total return based on Net Asset Value(5)			(8.26	)%			6.67	%				11.15	%				(34.96	)%			17.36	%
Shares outstanding at end of year			86,060,964				69,758,938					59,300,472					49,844,796				49,690,059
Ratios/Supplemental Data (7)
Net assets at end of year (000's)		$	145,405			$	160,665				$	151,309				$	138,672			$	244,595
Average net assets (000's)		$	153,815			$	152,362				$	149,944				$	192,785			$	242,589
Ratio of expenses to average net assets			11.54	%			10.66	%				16.32	%				11.64	%			8.69	%
Ratio of net investment income to average net assets			14.69	%			17.35	%				18.25	%				10.73	%			6.64	%
Portfolio turnover rate(6)			23.23	%			33.66	%				3.85	%				17.09	%			11.09	%

(1)	Represents per share net investment income for the year, based upon weighted average shares outstanding.
(2)	Net realized and unrealized gains include rounding adjustments to reconcile change in net asset value per share.
(3)	Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the year. To the extent the Company's taxable earnings fall below the total amount of the Company's distributions for that fiscal year, a portion of those distributions may be deemed a tax return of capital to the Company's stockholders. The ultimate tax character of the Company's earnings cannot be determined until tax returns are prepared after the end of the fiscal year.
(4)	Total return based on market value equals the increase or decrease of ending market value over beginning market value, plus distributions, assuming distribution reinvestment prices obtained under the Company's distribution reinvestment plan, excluding any discounts divided by the beginning market value per share.
(5)	Total return based on net asset value equals the increase or decrease of ending net asset value over beginning net asset value, plus distributions, divided by the beginning net asset value.
(6)	Portfolio turnover rate is calculated using the lesser of the annual investment sales and repayments of principal or annual investment purchases over the average of the total investments at fair value.
(7)	The following table provides supplemental performance ratios measured for the years ended December 31, 2025, 2024, 2023, 2022, and 2021:

		Year Ended December 31, 2025		Year Ended December 31, 2024		Year Ended December 31, 2023		Year Ended December 31, 2022	Year Ended December 31, 2021
		(Unaudited)
Ratio of expenses to average net assets:
Expenses before incentive fees		11.54	%		10.66	%		13.84	%		11.64	%		8.69	%
Net Investment Income Incentive Fees		-	%		-	%		2.47	%		-	%		-	%
Ratio of expenses, excluding interest expense, to average net assets		5.53	%		5.51	%		9.10	%		5.23	%		4.36	%

About Oxford Square Capital Corp.
Oxford Square Capital Corp. is a publicly-traded business development company principally investing in syndicated bank loans and, to a lesser extent, debt and equity tranches of collateralized loan obligation (“CLO”) vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.

Forward-Looking Statements
This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. 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. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. 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. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.

Contact:
Bruce Rubin
203-983-5280

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