Schedule 13G: EPCM and Thomas Majewski Disclose 1.66M OXLC Preferred Shares
Rhea-AI Filing Summary
Oxford Lane Capital Corp. Schedule 13G discloses that Eagle Point Credit Management LLC and Thomas Philip Majewski jointly report beneficial ownership of the issuer's Preferred Shares. Eagle Point Credit Management LLC reports sole voting and dispositive power over 1,657,854 Preferred Shares, representing 18.92% of the class. Mr. Majewski reports direct ownership of 5,500 Preferred Shares and shared voting/dispositive power over the 1,657,854 shares managed by EPCM, for an aggregate beneficial position of 1,663,354 shares, or 18.98% of the Preferred Shares.
The filing states EPCM acts as investment manager to certain accounts that hold the Preferred Shares and that Mr. Majewski, as managing partner and portfolio manager, may be deemed to share voting and dispositive power with respect to those accounts. The Schedule is jointly filed and includes a joint filing agreement as an exhibit.
Positive
- Material ownership disclosure: Reporting Persons explicitly disclose beneficial ownership of 1,663,354 Preferred Shares (approximately 18.98% of the class).
- Clear allocation of powers: Filing specifies sole and shared voting and dispositive powers between EPCM and Mr. Majewski.
- Joint filing and exhibit: Includes a Joint Filing Agreement, improving regulatory transparency.
Negative
- None.
Insights
TL;DR: A single adviser and its managing partner disclose an ~19% stake in OXLC preferred shares, creating a concentrated investor position.
The disclosure reports that Eagle Point Credit Management LLC holds 1,657,854 Preferred Shares with sole voting and dispositive authority on behalf of managed accounts, representing 18.92% of the class, while Thomas P. Majewski is shown with an aggregate beneficial ownership of 1,663,354 shares (18.98%). This indicates material but non-controlling ownership concentrated in an investment manager and its principal. The filing is informational and clarifies allocation of voting and dispositive powers between the manager and Mr. Majewski.
TL;DR: Joint Schedule 13G clarifies voting/dispositive authority and reports a substantial ~19% preferred stake held via managed accounts.
The statement details that EPCM, as investment manager, has discretionary investment and voting authority over the Preferred Shares held by certain accounts, while Mr. Majewski holds a small direct position and is deemed to share power over the managed holdings as managing partner. The filing includes a joint filing agreement and the certification that the holdings are not for the purpose of changing control. It provides transparency on allocation of authority between fiduciary entities.
AI-generated analysis. How Rhea-AI works. Not financial advice.