XAI Octagon Floating Rate & Alternative Income Term Trust Closes Private Placement of Convertible Preferred Shares and Registered Direct Placement of Common Shares

Author's Avatar
Jul 01, 2022

XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) (NYSE: XFLT), a diversified, closed-end management investment company with an investment objective to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle, has closed its previously announced private placement of 400,000 shares of the Trust's 6.00% Series 2029 Convertible Preferred Shares due June 2029, liquidation preference $25.00 per share, and registered direct placement of 1,450,000 common shares of beneficial interest at a price of $6.90 per share.