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:   2024-10-11T23:59:59+00:00
Accession:  0001213900-24-087318
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1703079/000121390024087318/0001213900-24-087318-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1703079/000121390024087318/ea0217457-01_8k.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-087318

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