{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-084389","form_type":"8-K","ticker":"XFLT","cik":"0001703079","company_name":"XAI Octagon Floating Rate & Alternative Income Trust","filed_at":"2023-11-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.105914+00:00","generated_at":"2026-06-08T16:13:31.969119+00:00","sec_items":["1.01","5.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"XFLT raises $27.9M via 6.95% Convertible Preferred Shares due 2029","bullets":["Trust issued 1,200,000 shares of 6.95% Series 2029 Convertible Preferred Shares at $23.25 per share, net proceeds ~$27.9M.","Shares have liquidation preference of $25.00, pay quarterly fixed dividend of 6.95% ($1.7375/share/year).","Mandatorily redeemable on June 30, 2029 at $25.00 plus unpaid dividends; convertible into common shares after six months.","Shares not listed on any exchange, transfer restricted; issued under Regulation D exemption."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-084389","json":"https://secwatch.observer/filing/0001213900-23-084389.json","markdown":"https://secwatch.observer/filing/0001213900-23-084389.md","text":"https://secwatch.observer/filing/0001213900-23-084389.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1703079/000121390023084389/0001213900-23-084389-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1703079/000121390023084389/ea164490_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T16:13:31.969119+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"eec3a55d51783121371aae317f2103e3f0e0d360","claim":"XAI Octagon Floating Rate & Alternative Income Trust: Adopted Appendix C to the Statement of Preferences to establish rights and preferences of Convertible Preferred Shares (effective 2023-10-06).","evidence_excerpt":"On October 6, 2023, the Trust adopted Appendix C to the Statement of Preferences of Term Preferred Shares (the “Statement of Preferences”) establishing and fixing the rights and preferences of the Convertible Preferred Shares.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1703079/000121390023084389/0001213900-23-084389-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2023-10-06"}],"fact_type":"governance_change"},{"claim_id":"d959cc3a2038103ac2cfa4f1c81a9bcea16d9c7e","claim":"XAI Octagon Floating Rate & Alternative Income Trust entered into Convertible Preferred Shares Purchase Agreement with Eagle Point Credit Management LLC and the purchasers named therein (effective 2023-11-06).","evidence_excerpt":"On November 6, 2023, XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT) (the “Trust”) entered into a purchase agreement (the “Convertible Preferred Shares Purchase Agreement”) between the Trust, Eagle Point Credit Management LLC and the purchasers named therein (the “Purchasers”), in connection with the issuance and sale of up to 1,200,000 shares of the Trust’s 6.95% Series 2029 Convertible Preferred Shares, liquidation preference of $25.00 (the “Convertible Preferred Shares”), at a price equal to $23.25 per Convertible Preferred Share, in one or more transactions exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933 on or before May 6, 2025.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1703079/000121390023084389/0001213900-23-084389-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Eagle Point Credit Management LLC and the purchasers named therein"},{"label":"Effective","value":"2023-11-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}