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:   2024-02-02T23:59:59+00:00
Accession:  0001213900-24-009613
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1703079/000121390024009613/0001213900-24-009613-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1703079/000121390024009613/ea169547_8k.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-009613

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