XAI Floating Rate & Alternative Income Trust launches tender offer for up to 1,903,861 shares at 98% of NAV

XAI Floating Rate & Alternative Income Trust launched a cash tender offer for up to 1,903,861 common shares, or about 12.5% of shares outstanding.

The offer price is set at 98% of NAV per share, calculated after the Oct. 19, 2026 expiration date. Shares tendered above the limit will be accepted on a pro rata basis.

The plan includes up to two follow-on tender offers over the next 25 months, subject to discount or NAV performance thresholds.

The trust said its NAV was $22.95 on Sept. 11, 2026, while the last NYSE sale price was $19.52, a 14.95% discount to NAV.