Core Viewpoint - XAI Octagon Floating Rate & Alternative Income Trust has reached an agreement to sell 7,300,000 shares of its 5.92% Series A Mandatory Redeemable Preferred Shares, aiming to raise approximately $71.5 million in net proceeds before expenses [1][6]. Group 1: Share Details - The Mandatory Redeemable Preferred Shares have a fixed annual dividend rate of 5.92%, equating to $0.5920 per share per year [2]. - The Trust is obligated to redeem all outstanding Mandatory Redeemable Preferred Shares on January 31, 2031, at a price equal to the liquidation preference plus any accumulated but unpaid dividends [3]. - The Trust has the option to redeem the shares at any time after the first issuance, subject to certain conditions [5]. Group 2: Financial Use and Conditions - The net proceeds from the share sale will be utilized to refinance existing leverage and for general corporate purposes [6]. - The shares will not be listed on any exchange and can only be transferred under specific exemptions from the Securities Act of 1933 [6][8]. - The closing of this transaction is contingent upon the completion of legal documentation and standard closing conditions [6]. Group 3: Advisory and Management - Moelis & Company LLC acted as the exclusive placement agent for the offering [4]. - XA Investments LLC serves as the investment adviser for the Trust, focusing on providing access to alternative investment strategies [10][12]. - Octagon Credit Investors, LLC acts as the investment sub-adviser, specializing in below-investment grade corporate credit investments [14].