Octagon slams XFLT board push to replace sub-adviser, calls plan coercive

• Octagon attacked a board-backed plan at XAI Floating Rate & Alternative Income Trust that ties a liquidity program to a new sub-advisory agreement vote.
• The special shareholder meeting is set for July 30, 2026; Octagon urged investors to vote against the new sub-adviser proposal.
• Octagon said the board is using contingent, partly cancelable tender offers to secure support for an unproven sub-adviser.
• Octagon proposed cutting the management fee to 1.3% from 1.7%, citing potential savings and a narrower discount to NAV.
• Octagon also pushed for a 10-year term structure, an unconditional 25% tender offer, and a shift to Octagon as primary adviser.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. XAI Floating Rate & Alternative Income Trust published the original content used to generate this news brief via Business Wire (Ref. ID: 20260727296120) on July 28, 2026, and is solely responsible for the information contained therein.