Steven Bavaria
Long only, closed-end funds, deep value, long-term horizon

Oxford Lane Capital's Price Pops Above $17, Vindicating Management's Recent Capital Increase

Oxford Lane Capital Corp. (NASDAQ:OXLC) just announced its results for the first quarter of 2014 and the market sure seemed to like it, with the stock jumping to $17.37 as we go to press, the first time it's closed above $17 since the recent stockholder rights offering and capital raising (both at $17) back in March.

The rise back above the $17 mark is a bit of a vindication for OXLC management, which was criticized by some stockholders for selling additional shares at $17 about a week after a shareholder rights issue - also priced at $17 - that was oversubscribed. Shareholders thought they were getting a bit of a bargain price at $17, only to see their...

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