The latest announcement is out from XAI Octagon Floating Rate & Alternative Income Term Trust (XFLT).
The XAI Octagon Floating Rate & Alternative Income Trust has entered into a deal to issue and sell 400,000 of its 6.95% Series II 2029 Convertible Preferred Shares at $23.25 each, anticipating about $9.3 million in proceeds. Additional shares may be sold by December 2025, with a pay-out if not all are sold. These shares offer quarterly dividends, rank senior to common shares, and will be redeemed by the Trust in 2029 or under certain conditions. They also provide a conversion right to holders, allowing conversion into common shares under specific terms, enhancing the Trust’s financing flexibility and investor options.
See more data about XFLT stock on TipRanks’ Stock Analysis page.
