Oxford Square Capital Corp (OXSQ) is a publicly traded Business Development Company (BDC) that invests in below-investment-grade corporate debt and structured credit. OXSQ's portfolio is split between two core strategies: senior secured corporate loans to middle-market and broadly syndicated borrowers (~58% of portfolio), and equity and junior debt tranches of Collateralized Loan Obligations (~38% of portfolio). Corporate loans are typically $5M–$25M positions across industries like software, business services, healthcare, and industrials. CLO equity is the first-loss, most leveraged tranche of a CLO's capital structure, meaning cash flows are amplified in benign credit environments but can deteriorate sharply when credit losses rise. OXSQ earns income through interest on corporate loans and cash distributions from CLO equity. OXSQ borrows to fund investments, amplifying both income and losses. OXSQ is externally managed by Oxford Square Management, led by CEO Jonathan Cohen and President Saul Rosenthal, who receive a base advisory fee plus performance incentive fees. To maintain its Regulated Investment Company tax status, OXSQ distributes at least 90% of taxable income to shareholders, currently paying $0.035 per share monthly. OXSQ funds its portfolio through ATM equity issuances and publicly traded unsecured notes, including ~$80.5M of 5.50% notes due 2028 and ~$74.8M of 7.75% notes due 2030.