Monitor NAV trajectory and credit quality in coming quarters; continued ATM issuance signals ongoing capital needs and dilutes existing holders. The maintained distribution provides a floor, but further NAV erosion could pressure the dividend. Watch for any credit rating actions or changes in non-accrual status.
Price Chart
Executive Summary
Oxford Square Capital Corp. reported Q2 2026 net investment income of $5.1M ($0.05/sh), up sequentially from $4.1M but down YoY from $5.5M. NAV per share fell further to $1.29 from $1.32 in Q1 and $1.69 at year-end 2025, while the company issued 11.3M shares via ATM for $17.8M, continuing significant dilution. The maintained $0.035/month distribution provides limited support, but the persistent NAV erosion and credit losses (non-accrual preferred equity increased to $6.9M) keep the outlook bearish.
Key Facts
- Net investment income (NII) of $5.1M ($0.05/sh) vs $4.1M ($0.05/sh) in Q1 2026 and $5.5M ($0.08/sh) in Q2 2025
- Total investment income of $9.4M, up from $8.9M in Q1 but down from $9.5M in Q2 2025
- NAV per share declined to $1.29 from $1.32 in Q1 and $1.69 at Dec 31, 2025
- Issued 11.3M shares via ATM for net proceeds of $17.8M; shares outstanding rose to 105.1M
- Net realized losses of $5.2M; non-accrual preferred equity increased to $6.9M from $5.2M
- Distributions maintained at $0.035/month for Oct/Nov/Dec 2026
- Weighted average yield on debt investments improved to 14.9% from 14.7%; CLO equity effective yield improved to 8.1% from 7.3%
Financial Impact
NAV per share declined 23.7% from year-end 2025 ($1.69 to $1.29); NII per share down 37.5% YoY ($0.08 to $0.05) due to dilution; total investment income down 1.3% YoY
Risk Factors
- Further NAV decline if credit losses persist or widen
- Continued dilution from ATM offerings
- Potential dividend cut if NII coverage weakens
- Non-accrual investments increasing (preferred equity now $6.9M)
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-083625 |
| Document: ea0299938-01_8k.htm | 0001213900-26-083625 |
| Document: 0001213900-26-083625-index-headers.html | 0001213900-26-083625 |
| Document: 0001213900-26-083625-index.html | 0001213900-26-083625 |
| Document: 0001213900-26-083625.txt | 0001213900-26-083625 |
| 8-K Data (Synthetic) | 0001213900-26-083625 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | Press Release | $1.31 | awaiting T+60 | — | $1.23 (−6.38%) |
Jul 31, 2026 12w ago | 8-K | $1.41 | awaiting T+60 | — | $1.23 (+13.00%) |
Jul 31, 2026 12w ago | 8-K | $1.55 $1.18 | ▲ +23.87% | ▲ +26.33% | $1.23 (+20.97%) |
Jul 31, 2026 12w ago | Press Release | $1.55 $1.18 | ▲ +23.87% | ▲ +26.33% | $1.23 (+20.97%) |
May 21, 2026 22w ago | Insider Cluster | $1.38 $1.42 | ▲ +2.90% | ▼ −1.40% | $1.23 (−11.23%) |
Apr 29, 2026 25w ago | Press Release | $1.59 $1.31 | ▲ +17.87% | ▲ +22.00% | $1.23 (+22.98%) |
Apr 22, 2026 26w ago | Press Release | $1.64 $1.36 | ▼ −17.08% | ▼ −22.97% | $1.23 (−25.40%) |
Mar 3, 2026 34w ago | Press Release | $1.75 $1.32 | ▲ +24.60% | ▲ +34.91% | $1.23 (+30.02%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers