other material
confidence high
sentiment neutral
materiality 0.50
XFLT issues 400,000 convertible preferred shares for $9.3M net proceeds
XAI Octagon Floating Rate & Alternative Income Trust
- Sold 400,000 6.95% Series 2029 Convertible Preferred Shares at $23.25/share on Feb 28, 2024.
- Net proceeds of ~$9.3 million; total outstanding Convertible Preferred Shares increase to 800,000.
- Issuance under Nov 6, 2023 purchase agreement, exempt from registration under Section 4(a)(2).
- Convertible Preferred Shares have a $25.00 liquidation preference per share.