secwatch.observer — SEC 8-K summary
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Issuer:     XAI Octagon Floating Rate & Alternative Income Trust (XFLT)
CIK:        0001703079
Form:       8-K
Filed at:   2022-06-29T23:59:59+00:00
Accession:  0001213900-22-035944
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

XFLT issues 400K convertible preferred shares at $23.25 and 1.45M common shares at $6.90
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- 400,000 shares of 6.00% Series 2029 Convertible Preferred at $23.25/sh; net proceeds ~$9.3M.
- Convertible preferred pay 6% fixed dividend ($1.50/sh/yr), mandatory redemption June 30, 2029.
- Additional 1.45M common shares at $6.90/sh; net proceeds ~$10.0M.
- Investors granted option to buy up to 800K more convertible shares by June 30, 2023, with $0.50/sh penalty if not taken.
- Proceeds to invest, pay down borrowings, and for working capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1703079/000121390022035944/0001213900-22-035944-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1703079/000121390022035944/s138463_8k.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-035944

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