XAI Octagon Floating Rate & Alternative Income Term Trust (XFLT) Prices 3.1M Share Offering at $8.50/sh

XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT), a diversified, closed-end management investment company with an investment objective to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle, has priced its previously announced underwritten public offering of common shares of beneficial interest (“Common Shares”) pursuant to the Fund’s effective shelf registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The Trust agreed to sell 3,100,000 Common Shares at a price to the public of $8.50 per Common Share. In addition, the Trust has granted the underwriters a 30-day option to purchase up to 465,000 additional Common Shares to cover over-allotments, if any.

The Trust expects to receive net proceeds (before expenses) from the offering, excluding the exercise of the over-allotment option, if any, of approximately $25.3 million. Assuming the full exercise of the over-allotment option, the net proceeds (before expenses) may reach approximately $29.1 million.

The Trust intends to invest the net proceeds from the offering in accordance with its investment objective and policies. The offering is expected to close on or about July 23, 2021, subject to the satisfaction of customary closing conditions.

B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers for the offering. Aegis Capital Corp., InspereX LLC, Maxim Group LLC, Newbridge Securities Corporation and Wedbush Securities Inc. are serving as co-managers for the offering.

The offering of Common Shares may be made only by means of a prospectus. Copies of the prospectus supplement relating to the offering and accompanying base prospectus may be obtained from: B. Riley Securities, Inc., 1300 North 17th Street, Suite 100, Arlington, VA 22209 or by calling (703) 312‐9580 or by emailing [email protected]; or Ladenburg Thalmann, Attn: Syndicate Department, 640 5th Ave, 4th Floor, New York, NY 10019 or by calling 1-800-573-2541 or by emailing [email protected].

Investors may also obtain these documents free of charge from the SEC’s website at www.sec.gov.

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