---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-009613"
form_type: "8-K"
ticker: "XFLT"
cik: "0001703079"
company_name: "XAI Octagon Floating Rate & Alternative Income Trust"
filed_at: "2024-02-02T23:59:59+00:00"
generated_at: "2026-06-06T09:58:55.891693+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# XFLT raises ~$25M via registered direct placement of 3.5M shares; name change to perpetual trust

## Summary
- Sold 3,546,854 common shares at $7.0485 per share for net proceeds of ~$25M.
- Offering expected to close on or about February 5, 2024; no placement agent used.
- Trust name changed from 'Term Trust' to 'Trust', reflecting perpetual structure.
- Eagle Point and purchasers granted Trust irrevocable proxy to vote shares in proportion to other holders until holdings fall below 4.9%.
- Proceeds to be used for investments, paying down credit facility, and working capital.

## SEC filing metadata
- accession: 0001213900-24-009613
- form_type: 8-K
- ticker: XFLT
- cik: 0001703079
- company_name: XAI Octagon Floating Rate & Alternative Income Trust
- filed_at: 2024-02-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1703079/000121390024009613/0001213900-24-009613-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1703079/000121390024009613/ea169547_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-009613
- JSON: https://secwatch.observer/filing/0001213900-24-009613.json
- Plain text: https://secwatch.observer/filing/0001213900-24-009613.txt

## Key facts
- Material Agreements
  XAI Octagon Floating Rate & Alternative Income Trust entered into Purchase Agreement with the purchasers named therein valued at $7.0485 per Common Share (effective 2024-02-01).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: the purchasers named therein
  - Value: $7.0485 per Common Share
  - Effective: 2024-02-01
  source text: On February 1, 2024, the XAI Octagon Floating Rate & Alternative Income Trust (formerly, XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT) (the “Trust”) entered into a purchase agreement (the “Purchase Agreement”) between the Trust and the purchasers named therein (the “Purchasers”) in connection with the purchase and sale of common shares of beneficial interest, par value $0.01 per share, of the Trust (the “Common Shares”) in a registered direct placement (the “Offering”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1703079/000121390024009613/0001213900-24-009613-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.