Business Context and Reporting Period
This Form 8-K is a current report filed by XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT) on September 13, 2023. The filing discloses the entry into a new material definitive agreement and the termination of a prior agreement regarding transfer agency and registrar services.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on operational administrative changes.
Material Changes
- New Transfer Agent: The Trust entered into an agreement with Equiniti Trust Company, LLC (formerly American Stock Transfer & Trust Company, LLC) to serve as its transfer agent and registrar, effective September 13, 2023.
- Termination of Prior Agreement: The previous agreement with DST Systems, Inc. was terminated effective September 13, 2023, with the formal termination of the DST Agreement scheduled for September 25, 2023.
- Dividend Reinvestment Plan: Equiniti now serves as the Plan Agent for the Trust's Dividend Reinvestment Plan.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document is limited to the notification of the service provider change.
Investor Verification Checklist
- Verify that dividend reinvestment plan correspondence is now directed to Equiniti Trust Company, LLC at 6201 15th Avenue, Brooklyn, New York 11219.
- Confirm the effective date of the transfer agent switch (September 13, 2023) for record-keeping purposes.
- Review the full text of the Transfer Agency and Registrar Services Agreement filed as Exhibit 10.1 for specific terms not detailed in this summary.