XAI Octagon Floating Rate & Income Term Trust closes 3.565M common share offering at $8.50

XAI Octagon Floating Rate & Alternative Income Trust

Public offering of 3,100,000 common shares plus full over-allotment of 465,000 shares at $8.50 each.
Gross proceeds approximately $30.3 million before underwriting expenses.
Underwriting agreement with B. Riley Securities as representative; shelf registration statement on Form N-2.
Skadden Arps legal opinion on share legality filed as Exhibit 5.1.

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