Investment Thesis
Oxford Square Capital (OXSQ) recently issued additional publicly-traded notes in an attempt to improve its balance sheet. But investors need to continue to avoid the common shares, as this latest attempt will still not resolve OXSQ's ongoing distribution coverage issues.
Business Overview
OXSQ as a BDC invests in loans and CLOs as a means to generate its income. Previously, Oxford Square was called TICC Capital, but changed its name to more closely align its BDC and CLO fund - Oxford Lane Capital (OXLC). This process simplifies finding either