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:   2023-11-07T23:59:59+00:00
Accession:  0001213900-23-084389
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

XFLT raises $27.9M via 6.95% Convertible Preferred Shares due 2029
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1703079/000121390023084389/0001213900-23-084389-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1703079/000121390023084389/ea164490_8k.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-084389

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