Oxford Square Capital Corp. Announces Change in Independent Registered Public Accounting Firm
Key Highlights
- Oxford Square Capital Corp. (“the Company”) has dismissed PricewaterhouseCoopers LLP (“PwC”) as its independent registered public accounting firm, effective May 26, 2026.
- Ernst & Young LLP (“EY”) has been appointed as the new independent registered public accounting firm.
- This change was approved by the Company’s Board of Directors.
- The Company confirms there were no “disagreements” or “reportable events” with PwC relating to accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
- A letter from PwC, dated May 29, 2026, has been provided to the SEC, confirming agreement with the Company’s disclosures regarding this auditor transition.
Details for Investors
On May 26, 2026, Oxford Square Capital Corp. made the significant decision to replace its independent auditor, PricewaterhouseCoopers LLP (PwC), with Ernst & Young LLP (EY). This type of transition is a major event for any publicly-traded company, as the independent auditor plays a critical role in reviewing and certifying the company’s financial statements and internal controls.
The Board of Directors unanimously approved the decision, which means the move was thoroughly vetted at the highest level of the company. Such changes can arise for a variety of reasons, including the desire for fresh perspectives, cost considerations, or other strategic reasons. However, it is particularly important for investors to note that the Company explicitly stated:
- There were no disagreements with PwC during the two most recent fiscal years or any subsequent interim period up to May 26, 2026.
- No “reportable events” as defined by Items 304(a)(1)(iv) or 304(a)(1)(v) of Regulation S-K under the Exchange Act were identified.
- There were no consultations with EY prior to their appointment regarding any accounting principles or auditing matters.
The Company has furnished PwC with a copy of these disclosures and requested that PwC provide the SEC with a letter stating their agreement with the statements made. PwC’s letter, dated May 29, 2026, confirms their agreement and is included as Exhibit 16.1 to the Form 8-K.
This event is potentially price sensitive for shareholders. A change in auditor can sometimes signal concern for investors, especially if it is unexpected or if there are underlying disputes, but in this instance, the company has clarified that the transition was amicable and free of any material disagreements. Nevertheless, shareholders should monitor for any further disclosures that may provide additional context or detail regarding the reasons for the auditor change.
Other Relevant Information
- The securities registered by the Company under Section 12(b) of the Exchange Act include:
- Common Stock, par value \$0.01 per share, trading on NASDAQ under the symbol OXSQ
- 5.50% Notes due 2028, trading on NASDAQ under the symbol OXSQG
- 7.75% Notes due 2030, trading on NASDAQ under the symbol OXSQH
- The Company indicates it is not an emerging growth company under the Exchange Act.
- No written communications, soliciting material, or pre-commencement tender offers are associated with this filing.
Conclusion
The appointment of EY as the new auditor for Oxford Square Capital Corp., replacing PwC, is a significant corporate development. Investors often view auditor changes with scrutiny, as they can be precursors to changes in financial reporting, corporate governance, or strategic direction. The Company’s clear statements of no disagreements or reportable events mitigate immediate concerns, but prudent investors will remain alert to upcoming financial disclosures and the first audit opinion delivered by EY.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should consult their financial advisors and review all company filings with the U.S. Securities and Exchange Commission before making any investment decisions. The author and publisher accept no liability for actions taken based on this information.
