XAI Octagon Urges 'FOR' Vote on King Street Sub-Adviser, Details Liquidity Plan
XAI Octagon Floating Rate & Alternative Income Trust (XFLT) is urging shareholders to vote "FOR" the King Street Sub-Advisory Agreement on the WHITE proxy card ahead of the August 6, 2026 Special Meeting. This agreement would permanently appoint Rockford Tower Asset Management, a King Street subsidiary, as sub-adviser, replacing the terminated Octagon. The Board's comprehensive liquidity program, including an initial tender offer and two contingent tender offers with a refined market discount condition, is designed to unlock shareholder value and enhance performance.
Key Highlights
- Shareholders urged to vote "FOR" King Street Sub-Adviser on WHITE proxy card by August 6.
- King Street Sub-Adviser (Rockford Tower Asset Management) assumed role on July 30, 2026.
- Octagon has been terminated and no longer manages daily portfolio responsibilities.
- King Street brings $30 billion AUM, a $12 billion CLO platform, and a 30-year track record.
- Board's liquidity plan includes an initial tender offer and two contingent tender offers.
- Market discount condition refined to less than 15% discount to NAV for 15 of 20 trading days.
- Leading proxy advisory firms ISS and Glass Lewis recommend voting "FOR" the proposal.
Price Impact
More from XFLT
XAI Octagon Declares $0.225 Monthly Distribution; Appoints Sub-Adviser
XFLT Urges Shareholder Vote 'FOR' King Street Sub-Adviser & Liquidity Plan
XFLT Seeks Shareholder Approval for King Street Sub-Adviser, Liquidity Plan