FINS closes $50M MRPS offering and $40M Series C Notes; annual meeting set for Sept 25, 2026

On May 22, 2026, the Fund adopted the Supplement to Declaration of Trust Relating to Series A Mandatory Redeemable Preferred Shares (the “Supplement”) establishing and fixing the rights and preferences of the MRPS.

On May 22, 2026, Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the “Fund”) entered into a securities purchase agreement (the “Securities Purchase Agreement”), by and among the Fund and the purchaser named therein (the “Securities Purchaser”), in connection with the issuance and sale of 2,000,000 shares of the Fund’s Series A Mandatorily Redeemable Preferred Shares, due April 30, 2031, liquidation preference of $25.00 (the “MRPS”), in a transaction exempt from registration under the Securities Act of 1933, as amended (the “Preferred Placement”). The Fund received gross proceeds from the sale of the MRPS of $50 million.

On May 22, 2026, the Fund entered into a notes purchase agreement (the “Note Purchase Agreement”), by and among the Fund and the purchaser named therein (the “Note Purchaser”), in connection with the private offering of the Fund’s 5.364% Series C Senior Notes, due July 8, 2030 (the “Series C Notes”), in a transaction exempt from registration under the Securities Act of 1933, as amended (the “Note Placement”). The Series C Notes bear a fixed interest rate of 5.364% per year and mature on July 8, 2030, unless redeemed, purchased or repaid prior to such date by FINS in accordance with their terms. The Fund will receive gross proceeds from the sale of Series C Notes of $40 million.