other material
confidence high
sentiment neutral
materiality 0.50
XAI Octagon issues 400,000 convertible preferred shares, raising ~$9.3M
XAI Octagon Floating Rate & Alternative Income Trust
- Issued 400,000 6.95% Series 2029 Convertible Preferred Shares at $23.25 per share.
- Net proceeds before expenses of approximately $9.3 million.
- Sale exempt from registration under Section 4(a)(2) of the Securities Act.
- Total convertible preferred shares outstanding now 400,000.
- Issuance was under purchase agreement dated Nov 6, 2023 with named purchasers.