OXSQHMEDIUM SIGNALFINANCIAL10-K

OXSQH completed a systematic debt reduction program, fully redeeming $44.8 million in 6.25% Unsecured Notes throughout 2025 while increasing its cash position and share count.

The complete redemption of the 6.25% notes demonstrates strong capital management and debt reduction focus, eliminating interest expense and improving the balance sheet structure. The substantial increase in outstanding shares from 69.8 million to 87.5 million suggests either equity financing activities or conversion events that provided capital for the debt redemptions.

Comparing 2026-03-06 vs 2025-03-05View on EDGAR →
FINANCIAL ANALYSIS

The company's financial position strengthened notably with cash and equivalents growing substantially to $51.9 million, providing enhanced liquidity. Total liabilities increased moderately by 16% to $161.3 million, likely reflecting timing differences and other obligations even as the unsecured notes were eliminated. The overall picture signals a company actively managing its capital structure through debt reduction while maintaining strong cash reserves.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
+48.7%
$34.9M$51.9M

Cash position surged 48.7% — strong cash generation or capital raise providing significant financial cushion.

Total Liabilities
Balance Sheet
+16%
$139.1M$161.3M

Liabilities increased 16% — monitor debt-to-equity ratio and interest coverage.

LANGUAGE CHANGES
NEW — 2026-03-06
PRIOR — 2025-03-05
ADDED
There were 87,510,727 shares of the Registrant s common stock outstanding as of March 2, 2026.
The 6.25% Unsecured Notes would have matured on April 30, 2026, and could have been redeemed in whole or in part at any time or from time to time at our option (on or after April 30, 2022).
On June 13, 2025, the Company redeemed $10.0 million in aggregate principal amount of the 6.25% Unsecured Notes.
On July 18, 2025, the Company redeemed $10.0 million in aggregate principal amount of the 6.25% Unsecured Notes.
On September 19, 2025, the Company redeemed the remaining $24.8 million in aggregate principal amount of the 6.25% Unsecured Notes.
In connection with the September 19, 2025 redemption, the 6.25% Unsecured Notes were delisted from the NASDAQ Global Select Market.
7.75% Unsecured Notes On August 7, 2025, we completed an underwritten public offering of approximately $74.8 million in aggregate principal amount of 7.75% unsecured notes due 2030, or the 7.75% Unsecured Notes.
The 7.75% Unsecured Notes will mature on July 31, 2030, and may be redeemed in whole or in part at any time or from time to time at the Company s option on or after July 31, 2027.
The 7.75% Unsecured Notes are listed on the NASDAQ Global Select Market under the trading symbol OXSQH.
We sold a total of 15,910,780 shares of common stock pursuant to the ATM offering during the year ended December 31, 2025.
REMOVED
There were 69,789,527 shares of the Registrant s common stock outstanding as of February 27, 2025.
6.50% Unsecured Notes On April 12, 2017, we completed an underwritten public offering of approximately $64.4 million in aggregate principal amount of our 6.50% unsecured notes due 2024, or the 6.50% Unsecured Notes.
On July 24, 2023, the Company redeemed $40.0 million in aggregate principal amount of the 6.50% Unsecured Notes.
On September 11, 2023, the Company redeemed $10.0 million in aggregate principal amount of the 6.50% Unsecured Notes.
On November 3, 2023, the Company redeemed $7.0 million in aggregate principal amount of the 6.50% Unsecured Notes.
On December 21, 2023, the Company redeemed the remaining $7.4 million aggregate principal amount of 6.50% Unsecured Notes.
In connection with the December 21, 2023 redemption, the 6.50% Unsecured Notes were delisted from the NASDAQ Global Select Market.
The 6.50% Unsecured Notes would have matured on March 30, 2024, and were redeemable in whole or in part at any time or from time to time at our option (on or after March 30, 2020).
The 6.50% Unsecured Notes bore interest at a rate of 6.50% per year payable quarterly on March 30, June 30, September 30, and December 30 of each year.
The 6.50% Unsecured Notes were listed on the NASDAQ Global Select Market under the trading symbol OXSQL.
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