Company: OXLCZ
Filing Date: 2025-06-27
Form Type: 40-APP
Source: 0001213900-25-058802
Chunk: 5

Company: Oxford Lane Capital Corp.
Filing Date: 2025-06-27
Form: 40-APP
Chunk 5
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 investment company that has elected to be regulated as a business development
company under the 1940 Act. OXSQ has elected to be treated as a regulated investment company (“RIC”) under Sub-Chapter
M of the Internal Revenue Code of 1986, as amended (the “Code”), and intends to comply with the requirements
to qualify for tax treatment applicable to RICs.

OXSQ’s investment objective
is to maximize its portfolio’s total return. OXSQ’s primary focus is to seek an attractive risk-adjusted total return by
investing primarily in corporate debt securities and, to a lesser extent, collateralized loan obligations (“CLO”),
which are structured finance investments that own corporate debt securities. OXSQ has a five-member board (the “OXSQ Board”),
of which three members are not “interested” persons of OXSQ within the meaning of Section 2(a)(19) of the 1940 Act.

| B. | OXLC |

OXLC is a Maryland corporation
structed as an externally managed registered closed-end management investment company under the1940 Act. OXLC has elected to be treated
as a RIC under Sub-Chapter M of the Code, and intends to comply with the requirements to qualify for tax treatment applicable to RICs.

OXLC’s investment objective
is to maximize its portfolio’s risk-adjusted total return by investing in equity and junior debt tranches of CLO vehicles. OXLC
has a five-member board (the “OXLC Board”), of which three are not “interested” persons of OXLC
within the meaning of Section 2(a)(19) of the 1940 Act.

| C. | OXPK |

OXPK is a Maryland corporation
structured as an externally managed registered closed-end management investment company under the 1940 Act that operates as a tender offer
fund. OXPK has elected to be treated as a RIC under Sub-Chapter M of the Code, and intends to comply with the requirements to qualify
for tax treatment applicable to RICs.

OXPK’s investment objective
is to maximize its portfolio’s risk-adjusted total return by investing in equity and junior debt tranches of CLO vehicles. OXPK
has a five-member board (the “OXPK Board” and, together with the OXSQ Board and OXLC Board, the “Board”),
of which three members are not “interested” persons of OXPK within the