SCHEDULE 13D/A: Eagle Point Credit Management and Thomas Majewski Update Significant Stake in Oxford Lane Capital Preferred Shares

Eagle Point Credit Management LLC and Thomas Philip Majewski have filed an amended Schedule 13D, detailing their continued significant beneficial ownership of Oxford Lane Capital Corp.'s Preferred Shares, now totaling 22.69% and 22.8% respectively, following numerous secondary market transactions.

Summary

• Eagle Point Credit Management LLC (EPCM) and Thomas Philip Majewski (Mr. Majewski) are the Reporting Persons in this Schedule 13D amendment.
• EPCM beneficially owns 1,988,374 Preferred Shares of Oxford Lane Capital Corp., representing approximately 22.69% of the outstanding preferred shares, with sole voting and dispositive power.
• Mr. Majewski beneficially owns 1,997,624 Preferred Shares, representing approximately 22.8% of the outstanding preferred shares, with shared voting and dispositive power due to his role as managing partner and portfolio manager for EPCM.
• The Preferred Shares were acquired for investment purposes through multiple secondary transactions at various market prices, using available investment capital from accounts managed by EPCM.
• The filing includes a detailed list of purchases and sales of 7.125% Series 2029 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and Series 2027 Term Preferred Shares conducted between November 14, 2024, and May 15, 2025.
• Neither EPCM nor Mr. Majewski, nor any other disclosed parties, have been convicted in criminal proceedings or were party to civil proceedings related to securities laws in the past five years.

Sentiment

Score: 6

Explanation: The document is neutral in tone, primarily providing factual updates on beneficial ownership and transaction history. The continued significant stake and stated 'investment purposes' suggest a stable, ongoing investment, which can be seen as mildly positive for the issuer's preferred shares.

Positives

• The reporting persons maintain a significant investment in Oxford Lane Capital Corp.'s preferred shares, indicating continued confidence in the investment for 'investment purposes'.

Negatives

• The document does not contain information that can be categorized as negative regarding the issuer's performance or outlook, as it primarily details ownership and transaction activity of the reporting persons.

Risks

• The document does not explicitly mention specific risks related to Oxford Lane Capital Corp. or its preferred shares, beyond the inherent market risks associated with secondary transactions.

Future Outlook

Eagle Point Credit Management, on behalf of the Accounts, reserves the right to increase or decrease the Accounts' ownership of the Preferred Shares over time, indicating a flexible and ongoing investment strategy.

Management Comments

• "EPCM caused the Accounts to acquire the Preferred Shares they hold for investment purposes and will continue to analyze such investments on an ongoing basis."
• "EPCM, on behalf of the Accounts, reserves the right to increase or decrease the Accounts' ownership of the Preferred Shares over time."

Industry Context

This filing reflects a significant institutional investor's ongoing positioning in the preferred shares of a Business Development Company (BDC) like Oxford Lane Capital Corp., which typically invests in collateralized loan obligations (CLOs). Such filings provide transparency into large holders' strategies within the fixed-income and alternative investment space.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's position and trading activity in the company's preferred shares, which can influence market perception and liquidity.
• Creditors: No direct impact mentioned, but the stability of large preferred shareholdings can indirectly signal confidence in the company's capital structure.

Next Steps

• Eagle Point Credit Management will continue to analyze its investments in Oxford Lane Capital Corp.'s Preferred Shares on an ongoing basis.
• The Reporting Persons reserve the right to increase or decrease their ownership of the Preferred Shares over time.

Key Dates

Recommendation

Keywords

Oxford Lane Capital Corp., Preferred Shares, Schedule 13D, SEC filing, Eagle Point Credit Management, Thomas Philip Majewski, Beneficial Ownership, Investment Adviser, Secondary Transactions, Investment Management