XAI Octagon Files 8-K for Material Agreement

TL;DR

XAI Octagon just signed a big deal, filing an 8-K to let everyone know.

AI Summary

On June 5, 2024, XAI Octagon Floating Rate & Alternative Income Trust filed an 8-K to report the entry into a material definitive agreement. The filing also includes other events and financial statements and exhibits. The company's principal executive offices are located at 321 North Clark Street #2430, Chicago, IL 60654.

Why It Matters

This filing indicates a significant new contract or partnership for XAI Octagon, which could impact its future financial performance and strategic direction.

Risk Assessment

Risk Level: medium — The filing of an 8-K for a material definitive agreement suggests a significant event that could introduce new risks or opportunities for the company.

Key Players & Entities

• XAI Octagon Floating Rate & Alternative Income Trust (company) — Filer of the 8-K report
• June 5, 2024 (date) — Date of report and earliest event
• 321 North Clark Street #2430, Chicago, IL 60654 (location) — Company's business and mailing address

FAQ

Key Financial Figures

• $25.00 — ferred Shares (Liquidation Preference $25.00) XFLTPRA New York Stock Exchange In
• $0.01 — ficial interest of the Trust, par value $0.01 per share (the "Common Shares"), from t

Filing Documents

• fp0088600-1_8kixbrl.htm (8-K) — 33KB
• fp0088600-1_ex11.htm (EX-1.1) — 90KB
• fp0088600-1_ex12.htm (EX-1.2) — 79KB
• fp0088600-1_ex51.htm (EX-5.1) — 23KB
• 0001398344-24-011313.txt ( ) — 486KB
• xflt-20240605_lab.xml (EX-101.LAB) — 36KB
• xflt-20240605_pre.xml (EX-101.PRE) — 25KB
• xflt-20240605.xsd (EX-101.SCH) — 4KB
• xflt-20240605_def.xml (EX-101.DEF) — 26KB
• fp0088600-1_8kixbrl_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On June 4, 2024, XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) (the "Trust") entered into a distribution agreement (the "Distribution Agreement") with Paralel Distributors LLC (the "Distributor"), pursuant to which the Trust may offer and sell up to 15,000,000 common shares of beneficial interest of the Trust, par value $0.01 per share (the "Common Shares"), from time to time, through the Distributor, in transactions deemed to be "at the market" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Offering"). The minimum price on any day at which Common Shares may be sold will not be less than the then current net asset value per Common Share plus the per Common Share amount of the commission to be paid to the Distributor. Pursuant to the Distribution Agreement, the Distributor may enter into sub-placement agent agreements with one or more selected dealers. The Distributor has entered into a sub-placement agent agreement, dated June 4, 2024 (the "Sub-Placement Agent Agreement"), with UBS Securities LLC (the "Sub-Placement Agent") relating to the Common Shares to be offered under the Distribution Agreement. The Offering is being made pursuant a prospectus supplement, dated June 4, 2024 and the accompanying prospectus, dated January 24, 2022, each of which constitute part of the Trust's effective shelf registration statement on Form N-2 (File No. 333-261521) previously filed with the Securities and Exchange Commission (the "Registration The foregoing descriptions of the Distribution Agreement and the Sub-Placement Agent Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Distribution Agreement filed with this report as Exhibit 1.1 and incorporated herein by reference, and the full text of the Sub-Placement Agent Agreement filed with this report as Exhibit 1.2 and incorporated herein by reference.

01. Other Events

Item 8.01. Other Events On June 4, 2024, the Trust commenced the Offering pursuant to the Trust's Registration Statement. A copy of the opinion of Skadden, Arps, Slate, Meagher & Flom LLP relating to the legality of the Common Shares is filed as Exhibit 5.1 to this report. The Trust incorporates by reference the exhibits filed herewith into the Registration Statement.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 1.1 Distribution Agreement between the Registrant and Paralel Distributors LLC 1.2 Sub-Placement Agent Agreement between Paralel Distributors LLC and UBS Securities LLC 5.1 Opinion of Skadden, Arps, Slate, Meagher & Flom LLP 23.1 Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. XAI OCTAGON FLOATING RATE & ALTERNATIVE INCOME TRUST Date: June 5, 2024 By: /s/ Benjamin D. McCulloch Name: Benjamin D. McCulloch Title: Secretary and Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR