XAI Floating Rate & Alternative Income Trust Announces Expiration and Preliminary Results of Voluntary Tender Offer
Oversubscription means the Fund expects to purchase only a prorated portion of each shareholder’s properly tendered shares.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
XAI Floating Rate & Alternative Income Trust (NYSE: XFLT) announced preliminary results of its oversubscribed tender offer, which expired October 19, 2026.
The offer covered up to 1,903,861 common shares, approximately 12.5% of outstanding common shares. Approximately 7,331,021 shares were validly tendered and not withdrawn. Accepted shares will be purchased at 98% of net asset value, the value of the Fund’s assets less liabilities per share, determined at the close of regular NYSE trading on October 20, 2026. The Fund expects purchases from each tendering shareholder to be prorated and final results, including the proration factor if applicable, on or about October 21, 2026. Preliminary counts remain subject to adjustment.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Tender offer provides a repurchase of up to 1,903,861 shares, approximately 12.5% of outstanding common shares.
Negative
- Moderate point. Forward-looking: it has not happened yet and may not happen.Accepted shares will be purchased at 98% of October 20, 2026 net asset value, below net asset value.
- Minor point. Forward-looking: it has not happened yet and may not happen.Oversubscription, with approximately 7,331,021 shares tendered, means purchases are expected to be prorated.
- Minor point. Forward-looking: it has not happened yet and may not happen.Results remain preliminary and subject to adjustment; final results are expected on or about October 21, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CHICAGO, Oct. 20, 2026 (GLOBE NEWSWIRE) -- XAI Floating Rate & Alternative Income Trust (NYSE: XFLT) (the “Fund”), announced today the preliminary results of its Tender Offer (the “Tender Offer”), which commenced September 18, 2026, and expired at 11:59 p.m., Eastern Time, on October 19, 2026. The Tender Offer was for up to 1,903,861 (approximately
Based on the preliminary results shown below, because the Tender Offer was oversubscribed, the number of Common Shares that will be purchased from each shareholder is expected to be prorated based on the number of Common Shares properly tendered. The purchase price of properly tendered and accepted Common Shares for the Fund will be
Based on the preliminary count by Computershare Trust Company, N.A. the depositary for the Tender Offer (the “Depositary”), a total of approximately 7,331,021 Common Shares were validly tendered and not withdrawn at the purchase price at the Fund’s next determined NAV, anticipated 5:00 p.m. Eastern Time on October 20, 2026. The Fund expects to announce the final results of its Tender Offer, including the pro-ration factor, if applicable, on or about October 21, 2026.
Questions regarding the Tender Offer may be directed to Okapi Partners LLC, the Information Agent for the Tender Offer, who can be reached at the toll-free number (877) 796-5274.
About XA Investments
XA Investments LLC (“XAI”) is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds, an interval fund, and a tender offer fund. The listed closed-end funds, the XAI Floating Rate & Alternative Income Trust and XAI Madison Equity Premium Income Fund both trade on the New York Stock Exchange and the interval fund and tender offer fund, XAI CLO & Income Opportunities Fund and Evanston Multi-Alpha Fund are both available via direct subscription and through select broker/dealers and wealth management platforms.
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 product development and market research, marketing and fund management.
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.
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 Rockford Tower Asset Management
Rockford Tower Asset Management, L.L.C. is a wholly owned subsidiary of King Street Capital Management, L.P. (“King Street”) and an affiliate of Rockford Tower Capital Management (“Rockford Tower”). Rockford Tower, King Street’s dedicated CLO, CBO and SMA platform, was formed in 2017. Rockford Tower has over
About King Street Capital Management
King Street is a global alternative investment firm founded in 1995 that manages
XAI does not provide tax advice; please 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.
Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Trust carefully before investing. For more information on the Trust, please visit the Trust’s webpage at www.xainvestments.com.
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
| NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE | ||
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Media Contact:
Kimberly Flynn, President
XA Investments LLC
Phone: 888-903-3358
Email: KFlynn@XAInvestments.com
www.xainvestments.com
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