XAI Octagon closes $41.85M private placement of convertible preferred shares

XAI Octagon Floating Rate & Alternative Income Trust

On Oct 10, 2024, the Trust issued 200,000 Series II 2029 Convertible Preferred Shares at $23.25/share, net proceeds ~$4.65M.
This completes the previously announced offering of up to 1,800,000 shares; total gross proceeds ~$41.85M.
Shares have a 6.95% coupon, are convertible, and carry a $25.00 liquidation preference.
The sale was exempt under Section 4(a)(2) of the Securities Act and made to a limited group of purchasers.
Purchase agreement with Eagle Point Credit Management LLC governed the transaction.

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