Trending...
- Rep. Gina H. Curry and Dr. Conan Tu Inspire at Kopp Foundation for Diabetes Hybrid Fundraising Gala and National Leadership Forum
- PADT Marks U.S. First as Partnership With Rapid Fusion Brings New Additive Manufacturing Solutions to North America
- Benchmark International Successfully Facilitd. the Trans BT Alumitec and The January 23rd Company
CHICAGO--(BUSINESS WIRE)--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.
As a result, the Trust received net proceeds from the transactions of approximately $19.2 million. The Trust intends to use the net proceeds from the offerings to invest in accordance with its investment objective and policies, to pay down outstanding borrowings under its credit facility and/or for general working capital purposes.
About XA Investments
XA Investments LLC ("XAI") serves as the Trust's investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in April, 2016. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, fund management and administration. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.
More on illi News
About XMS Capital Partners
XMS Capital Partners, LLC, established in 2006, is a global, independent financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.
About Octagon Credit Investors
Octagon Credit Investors, LLC ("Octagon") serves as the Trust's investment sub-adviser. Octagon is a 25+ year old, $32.1B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (CLO debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon's investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon's investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit www.octagoncredit.com.
The Trust, XAI and Octagon do not provide tax advice; consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.
More on illi News
This press release contains certain statements that may include "forward-looking statements." Forward-looking statements can be identified by the words "may," "will," "intend," "expect," "estimate," "continue," "plan," "anticipate," and similar terms and the negatives of such terms. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Many factors that could materially affect the Trust's actual results are the performance of the portfolio of securities held by the Trust, the conditions in the U.S. and international financial and other markets, the price at which Preferred Shares trade in the public markets and other factors discussed in the Trust's prospectus supplement and accompanying base prospectus and to be discussed in the Trust's periodic filings with the SEC.
Although the Trust believes that the expectations expressed in such forward-looking statements are reasonable, actual results could differ materially from those expressed or implied in such forward-looking statements. The Trust's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which are made as of the date of this press release. Except for the Trust's ongoing obligations under the federal securities laws, the Trust does not intend, and the Trust undertakes no obligation, to update any forward-looking statement.
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE
Contacts
Kimberly Flynn, Managing Director
XA Investments LLC
Phone: 1-888-903-3358
Email: info@xainvestments.com
www.xainvestments.com
As a result, the Trust received net proceeds from the transactions of approximately $19.2 million. The Trust intends to use the net proceeds from the offerings to invest in accordance with its investment objective and policies, to pay down outstanding borrowings under its credit facility and/or for general working capital purposes.
About XA Investments
XA Investments LLC ("XAI") serves as the Trust's investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in April, 2016. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, fund management and administration. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.
More on illi News
- ENERGY33 Successfully Completes Second Engineering & Construction Management Contract for a 27MW STX Cogeneration Power Plant in Honduras
- Florida International University: "Psychiatry: An Industry of Death" Traveling Exhibit Educates Students on Mental Health Abuse
- CCHR: VA's Psychiatric Treatments Betray Veterans, Fuel Suicide and Death
- Integris Composites Named Armor Partner for U.S. Army's XM30 Combat Vehicle
- Jaipur Countryside, 4-Star Comfort: $199 for Two— All-Inclusive with Meals + Transfers at Heritage Hotel Savista
About XMS Capital Partners
XMS Capital Partners, LLC, established in 2006, is a global, independent financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.
About Octagon Credit Investors
Octagon Credit Investors, LLC ("Octagon") serves as the Trust's investment sub-adviser. Octagon is a 25+ year old, $32.1B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (CLO debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon's investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon's investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit www.octagoncredit.com.
The Trust, XAI and Octagon do not provide tax advice; consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.
More on illi News
- Probate Shepherd® Announces a New Member Probate Attorney in Fort Worth, TX
- Phinge Announces "Test the Waters" Campaign for Potential Regulation A+ Offering: Home of Netverse Verified AI & Patented App-less Technology Platform
- RJ Grimshaw Launches "The AI EDGE" A Practical Guide Where Leadership Meets Innovation
- Inkdnylon Expands Chicago Embroidery Services to All 77 Communities
- Probate Shepherd® Announces a New Member Probate Attorney in Sugar Land, TX
This press release contains certain statements that may include "forward-looking statements." Forward-looking statements can be identified by the words "may," "will," "intend," "expect," "estimate," "continue," "plan," "anticipate," and similar terms and the negatives of such terms. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Many factors that could materially affect the Trust's actual results are the performance of the portfolio of securities held by the Trust, the conditions in the U.S. and international financial and other markets, the price at which Preferred Shares trade in the public markets and other factors discussed in the Trust's prospectus supplement and accompanying base prospectus and to be discussed in the Trust's periodic filings with the SEC.
Although the Trust believes that the expectations expressed in such forward-looking statements are reasonable, actual results could differ materially from those expressed or implied in such forward-looking statements. The Trust's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which are made as of the date of this press release. Except for the Trust's ongoing obligations under the federal securities laws, the Trust does not intend, and the Trust undertakes no obligation, to update any forward-looking statement.
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE
Contacts
Kimberly Flynn, Managing Director
XA Investments LLC
Phone: 1-888-903-3358
Email: info@xainvestments.com
www.xainvestments.com
Filed Under: Business
0 Comments
Latest on illi News
- Chris The Wiz Drops Static EP: Grainy, Cyberpunk-Infused Cloud Rap
- Chris The Wiz Unveils Perfume EP: Hazy Cloud Rap Meets Trapnoir
- RNHA FL Unveils Bold New Leadership Ahead of 2026 Elections
- Vision Share Spotlights Moria's XTRA4: A Breakthrough in Corneal Preservation and Global Impact
- How Communities Can Work Together to Prevent Foreclosure
- Porte Brown Recognized by Accounting Today - 2025 Best Accounting Firms for Women
- ASI Honors Client Achievements at 27th Annual iNNOVATIONS Conference
- Lightship Security and the OpenSSL Corporation Submit OpenSSL 3.5.4 for FIPS 140-3 Validation
- WADA AWARDS - where Diamonds melt into glamour
- First Nations Bank of Canada Partners with KYC2020 to Strengthen AML Screening and Monitoring Capabilities
- AI Trading Agent Achieves 116% Annualized Return on AAPL, AMD, NVDA, EBAY, STX
- Ecoservity TradePro Now Available in Microsoft Azure Marketplace
- Bitcoin will still be the leader in the cryptocurrency market in 2025, and WOA Mining enthusiasts will earn passive income
- Ecoservity announces TradePro to manage tariff compliance & trade profitability with SAP + Microsoft
- Triumph Thru Tears Premieres at 55th Anniversary Pamoja Celebration at the University of Georgia
- Naperville: Central Parking Facility Maintenance Begins Oct. 13
- Helping Haircare Brands Launch with Confidence: Bond & Bloom Innovation Group Leads in Product Development
- Holiday Fineries at the Wineries on the Shawangunk Wine Trail
- Chadwick Twillman Demands Resignation of MLive Editor Joey Oliver for Publishing Deceptive Hit Piece
- Aerial Drone Photographers of America™ Condemns Temporary Flight Restrictions Imposed by the FAA