Angel Oak FINS reports oversubscribed rights offering; gross proceeds ~$110.4M

Angel Oak Financial Strategies Income Term Trust

Rights offering expired May 14, 2025; all 8,354,213 shares issued at $13.23/share (90% of NAV).
Offering oversubscribed; over-subscription requests allocated pro rata among record date shareholders.
Gross proceeds expected ~$110.4 million.
Pending Brookfield acquisition of parent Angel Oak; new advisory agreement subject to shareholder vote June 26, 2025.
Portfolio manager cites opportunities in community bank debt and favorable regulatory backdrop.

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