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XAI fund approves liquidity plan with series of tender offers

First publishedJul 27, 13:20 UTC
Last updatedJul 27, 16:28 UTC · 9m ago
11 outletInvesting.com · Company News
Investing.com · Company News5XAI fund approves liquidity plan with series of tender offersOpen ↗
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XAI fund approves liquidity plan with series of tender offers
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CHICAGO - XAI Floating Rate & Alternative Income Trust (XFLT) announced today that its Board of Trustees approved a liquidity plan involving multiple tender offers for shareholders, according to a press release statement. The plan includes an initial tender offer to repurchase up to 12.5% of the fund’s outstanding common shares at 98% of net asset value.

Reported by 1 outlet — Investing.com · Company News. See all sources ↓

CHICAGO - XAI Floating Rate & Alternative Income Trust (XFLT) announced today that its Board of Trustees approved a liquidity plan involving multiple tender offers for shareholders, according to a press release statement. The plan includes an initial tender offer to repurchase up to 12.5% of the fund’s outstanding common shares at 98% of net asset value. Two subsequent tender offers would repurchase up to 7.5% and 5.0% of outstanding shares, respectively, at the same pricing. Implementation of the liquidity plan requires shareholder approval of a proposed investment sub-advisory agreement among the fund, XAI and Rockford Tower Asset Management, L.L.C., a subsidiary of King Street Capital Management, L.P.

Read the full report at Investing.com · Company News ↗

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What's the story?
CHICAGO - XAI Floating Rate & Alternative Income Trust (XFLT) announced today that its Board of Trustees approved a liquidity plan involving multiple tender offers for shareholders, according to a press release statement. The plan includes an initial tender offer to repurchase up to 12.5% of the fund’s outstanding common shares at 98% of net asset value.
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1 outlet, average source rating 5.0/10.
When was it last updated?
9m ago.
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    XAI fund approves liquidity plan with series of tender offers

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    Investing.com · Company News
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organizationAlternative Income TrustorganizationBoardorganizationChicagoorganizationTrusteesorganizationTwoorganizationXAIorganizationXAI Floating RateorganizationXFLT
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Avg source rating 5.0/10
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