{"id":988516,"date":"2026-08-03T10:21:56","date_gmt":"2026-08-03T14:21:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/xflt-board-urges-shareholders-to-vote-for-approval-of-king-street-sub-adviser-ahead-of-august-6th-special-meeting\/"},"modified":"2026-08-03T10:21:56","modified_gmt":"2026-08-03T14:21:56","slug":"xflt-board-urges-shareholders-to-vote-for-approval-of-king-street-sub-adviser-ahead-of-august-6th-special-meeting","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/xflt-board-urges-shareholders-to-vote-for-approval-of-king-street-sub-adviser-ahead-of-august-6th-special-meeting\/","title":{"rendered":"XFLT Board Urges Shareholders to Vote FOR Approval of King Street Sub-Adviser Ahead of August 6th Special Meeting"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>A Compelling Majority of Engaged Shareholders Voted \u201c<\/em><br \/>\n        <strong><br \/>\n          <em><br \/>\n            <u>FOR<\/u><br \/>\n          <\/em><br \/>\n        <\/strong><br \/>\n        <em>\u201d the King Street Sub-Adviser<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Board\u2019s Proposed Liquidity Plan Becomes Effective Upon Approval of The King Street Sub-Advisory Agreement<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>XFLT Asks Shareholders to Vote Today on the <\/em><br \/>\n        <strong><br \/>\n          <em><br \/>\n            <u>WHITE<\/u><br \/>\n          <\/em><br \/>\n        <\/strong><br \/>\n        <em> Proxy Card \u201c<\/em><br \/>\n        <strong><br \/>\n          <em><br \/>\n            <u>FOR<\/u><br \/>\n          <\/em><br \/>\n        <\/strong><br \/>\n        <em>\u201d the King Street Sub-Advisory Agreement <\/em>\n      <\/p>\n<p>CHICAGO, Aug.  03, 2026  (GLOBE NEWSWIRE) &#8212; XAI Floating Rate &amp; Alternative Income Trust (XFLT) (the \u201cFund\u201d) urges shareholders to vote today on the\u00a0<strong><u>WHITE<\/u><\/strong> proxy card \u201c<strong><u>FOR<\/u><\/strong>\u201d the long-term appointment of interim sub-adviser Rockford Tower Asset Management, L.L.C. (the \u201cKing Street Sub-Adviser\u201d), a wholly owned subsidiary of King Street Capital Management, L.P. (\u201cKing Street\u201d), ahead of the reconvened Special Meeting of Shareholders on August 6, 2026.<\/p>\n<ul type=\"disc\">\n<li>The King Street Sub-Adviser is serving as sub-adviser to XFLT pursuant to an interim contract, as of July 30, 2026. King Street is a leading global alternative asset manager with $30 billion in assets under management, a 30-year track record, and a proven CLO platform and broader investment capabilities.<\/li>\n<li>Preliminary voting indicates that votes \u201c<strong><u>FOR<\/u><\/strong>\u201d the King Street Sub-Adviser by engaged shareholders would have approved the proposal on July 30<sup>th<\/sup> if not for the impact of shares voted to Abstain.<\/li>\n<li>Voting today to approve the long-term appointment of the King Street Sub-Adviser effectuates implementation of the Board\u2019s proposed liquidity plan, including an initial tender offer and a discount management program consisting of two contingent tender offers, occurring approximately 13 and 25 months after the completion of the initial tender offer.<\/li>\n<\/ul>\n<p>\n        <strong><br \/>\n          <u>The Board\u2019s Proposal Is Gaining Support From Engaged Shareholders and Third Parties.<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>Preliminary voting has shown that more than two-thirds of engaged shareholders, excluding shares voted to Abstain, have voted in favor of the Board\u2019s proposal, which has also gained support from prominent third parties. Two leading independent proxy advisory firms, Institutional Shareholder Services Inc. (ISS) and Glass, Lewis &amp; Co. LLC, each recommend voting \u201c<strong><u>FOR<\/u><\/strong>\u201d the Board\u2019s proposal. In addition, a leading subscription-based investment group on Seeking Alpha recently published a recommendation for XFLT shareholders to vote \u201c<strong><u>FOR<\/u><\/strong>\u201d the Board\u2019s proposal.\u00a0<\/p>\n<p>\n        <strong><br \/>\n          <u>Octagon Has Been Terminated as of July 30<\/u><br \/>\n        <\/strong><br \/>\n        <sup><br \/>\n          <strong><br \/>\n            <u>th<\/u><br \/>\n          <\/strong><br \/>\n        <\/sup><br \/>\n        <strong><br \/>\n          <u> and Has No Role in the Management of the Fund.<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>The terminated sub-adviser Octagon has no authority to implement their proposed plan. Octagon\u2019s ideas regarding fees, governance, Fund structure and liquidity are not binding commitments, are not before shareholders for approval and cannot be implemented by Octagon. By contrast, approval of the Board\u2019s proposal allows the Fund to continue with the King Street Sub-Adviser and move forward with the Board\u2019s concrete shareholder liquidity program. <u>A vote \u201cAGAINST\u201d does not implement any of Octagon\u2019s ideas, nor would it return Octagon to the Fund.<\/u><\/p>\n<p>\n        <strong><br \/>\n          <u>Shareholders\u2019 Vote Will Determine the Future of the Fund. Shareholders Should Vote Today \u201cFOR\u201d Approval of the King Street Sub-Advisory Agreement.<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>\n        <strong><br \/>\n          <u>How to Vote:<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>The Board urges XFLT shareholders to follow recommendations from Institutional Shareholder Services Inc. (\u201cISS\u201d) and Glass, Lewis &amp; Co. LLC (\u201cGlass Lewis\u201d), the leading independent proxy advisory firms, and vote \u201c<strong><u>FOR<\/u><\/strong>\u201d the King Street Sub-Adviser on the <strong><u>WHITE<\/u><\/strong> proxy card. Use one of the following options to vote:<\/p>\n<ul type=\"disc\">\n<li>\n          <strong>By Internet: <\/strong>Visit the website listed on your <strong><u>WHITE<\/u><\/strong> proxy card, enter your control number and follow the simple on-screen instructions.<\/li>\n<li>\n          <strong>By Phone: <\/strong>Call the toll-free number listed on your <strong><u>WHITE<\/u><\/strong> proxy card.<\/li>\n<li>\n          <strong>By Mail:<\/strong> Sign and return the <strong><u>WHITE<\/u><\/strong> proxy card in the enclosed postage-paid envelope.<\/li>\n<\/ul>\n<p>If you previously voted and want to change your vote to vote \u201c<strong><u>FOR<\/u><\/strong>\u201d the King Street Sub-Adviser, all you need to do is vote again following the instructions above.<\/p>\n<p>\n        <strong>If you have any questions or need assistance voting your shares, please contact our proxy solicitation firm, Okapi Partners LLC, toll-free at (855) 305-0855 or by email at <\/strong><br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MxS8S2Ox3NPkjDn9FDJ_5Yi_W96XQIq8UqkNis9NWdIXBATtQt81u2S7SVvG4Yw_wsyhPbR_XCwP_ux6JC3NAwCvHcWWuyIDQFz2i8Beghs=\" rel=\"nofollow\" target=\"_blank\"><br \/>\n          <strong><br \/>\n            <u>XAI@OkapiPartners.com<\/u><br \/>\n          <\/strong><br \/>\n        <\/a><br \/>\n        <strong>. <\/strong>\n      <\/p>\n<p>\n        <strong>About XA Investments<\/strong>\n      <\/p>\n<p>XA Investments LLC is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. For more information, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-3qwaArZ3EkZA0xcZDFH2eErff5DBXMSmXtXHtzzXK2vY6Zk8lPqIUSzgPJFOUekcrSaLBMW7NsOdsF_g5T_3IDKHNRuIVpGrjZmagYLIAU=\" rel=\"nofollow\" target=\"_blank\"><u>www.xainvestments.com<\/u><\/a>.<\/p>\n<p>\n        <strong>About King Street Capital Management<\/strong><br \/>\n        \n      <\/p>\n<p>King Street is a global alternative investment firm founded in 1995 that manages $30 billion in assets across public and private markets. The firm marries rigorous fundamental research with tactical trading and differentiated sourcing capabilities to identify investment opportunities across asset classes, up and down the capital structure. For more information, please visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=sHVEPmVc6uskDE2U_4MemOuz2D7j3fkDiQqR_cAh7UVhyrY_jczNd-WPBoq4_usUpoIPcpgqkC2gWrAsN1MLmbHxYjKv8Bje3HrsseTj7lU=\" rel=\"nofollow\" target=\"_blank\"><u>www.kingstreet.com<\/u><\/a>. Follow\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_HfGhk9xJZpApZ6yj6JdsLmUUmEF9yQw1TK9TP-VAiX1QSjM0EC0W-TYnLQ4JrFpLsCr-J7cjHDlIfKfpwz6rNuiMzIAuT-Oh5QUw4TAFwfpZXa762E6Gs1UgiweNAiQBQ_XSK7p2IUWuSORYnDUgnsrz8WZol06sO0riUV-0ouE7OOebSMiZaU0WKtoMRE1wO5h2t950au0jQ5Y_v5L21C1uuAP3Q-AvqeFx2_1PbXPr8x9Zdp_WnavuxuKC0guM1EIyMOdijw7ojenxkQvC-5PrT9YW6C4E4qqFSyQvtmasLVwKXxOvZSuUqsvqDPr\" rel=\"nofollow\" target=\"_blank\"><u>King Street Capital Management<\/u><\/a>\u00a0on LinkedIn.<\/p>\n<p>\n        <strong>Forward-Looking Statements <\/strong>\n      <\/p>\n<p>This press release contains certain statements that may include \u201cforward-looking statements.\u201d Forward-looking statements can be identified by the words \u201cmay,\u201d \u201cwill,\u201d \u201cintend,\u201d \u201cexpect,\u201d \u201cestimate,\u201d \u201ccontinue,\u201d \u201cplan,\u201d \u201canticipate,\u201d and similar terms and the negatives of such terms. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Many factors that could materially affect the Fund\u2019s actual results are the performance of the portfolio of securities held by the Fund, the conditions in the U.S. and international financial and other markets, the price at which Fund shares trade in the public markets and other factors. Although the Fund believes that the expectations expressed in such forward-looking statements are reasonable, actual results could differ materially from those expressed or implied in such forward-looking statements. The Fund\u2019s future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which are made as of the date of this press release. Except for the Fund\u2019s ongoing obligations under the federal securities laws, the Fund does not intend, and the Fund undertakes no obligation, to update any forward-looking statement.<\/p>\n<p>This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.<\/p>\n<p>Past performance is no guarantee of future results. An investment in the Fund involves risk, including the possible loss of principal. Investors should consider the Fund\u2019s investment objectives, risks, charges, and expenses carefully before investing. Please refer to the Fund\u2019s filings with the Securities and Exchange Commission for additional information.<\/p>\n<p>\n        <strong>Media Contact:\u00a0<\/strong>\n      <\/p>\n<p>XA Investments LLC<br \/>Kim Shepherd<br \/>Senior Consultant<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=dQK80Dzo7S4-oiS2kpzO9L5-EKODmQ2RtPH7lVrQZDZCgNitzonEbPp2bVU5TlJfq16p_4Mdy04IHRbJZvRLTEZ7V2NR8pBY6_OJfXjgDcEMYMvJrWjy0BgnwNSpluBX\" rel=\"nofollow\" target=\"_blank\"><u>kshepherd@xainvestments.com<\/u><\/a><br \/>312-623-5123<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-3qwaArZ3EkZA0xcZDFH2eErff5DBXMSmXtXHtzzXK0eA4vFb6OElFe-HIJ87qS1SctPYgFEFkqva0bq_kOP7rXkYAVLYnIJncOLhQ9td6g=\" rel=\"nofollow\" target=\"_blank\"><u>www.xainvestments.com<\/u><\/a><\/p>\n<p>Prosek Partners <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QeYqNqeo4XplMzXEfGyLSOgBgZmfpDDnlXgupmO_ZmjthiXR079NNkgcVd38NRmx2RzJYi99tYXq70MEA8aHwHmmST7Ngh1uPEy8Ajk7Gx4=\" rel=\"nofollow\" target=\"_blank\"><u>Pro-XAI@Prosek.com<\/u><\/a><\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgwMjQ0NiM3NzU1NTEyIzUwMDEzMzQ5OA==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/M2U1NGE3ZTQtMTExNi00MTc5LWIxOWItNDQ4N2UyNWU3YTNhLTUwMDEzMzQ5OC0yMDI2LTA4LTAzLWVu\/tiny\/XAI-Floating-Rate-Alternative-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Compelling Majority of Engaged Shareholders Voted \u201c FOR \u201d the King Street Sub-Adviser Board\u2019s Proposed Liquidity Plan Becomes Effective Upon Approval of The King Street Sub-Advisory Agreement XFLT Asks Shareholders to Vote Today on the WHITE Proxy Card \u201c FOR \u201d the King Street Sub-Advisory Agreement CHICAGO, Aug. 03, 2026 (GLOBE NEWSWIRE) &#8212; XAI Floating Rate &amp; Alternative Income Trust (XFLT) (the \u201cFund\u201d) urges shareholders to vote today on the\u00a0WHITE proxy card \u201cFOR\u201d the long-term appointment of interim sub-adviser Rockford Tower Asset Management, L.L.C. (the \u201cKing Street Sub-Adviser\u201d), a wholly owned subsidiary of King Street Capital Management, L.P. (\u201cKing Street\u201d), ahead of the reconvened Special Meeting of Shareholders on August 6, 2026. The King Street Sub-Adviser is serving as &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xflt-board-urges-shareholders-to-vote-for-approval-of-king-street-sub-adviser-ahead-of-august-6th-special-meeting\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;XFLT Board Urges Shareholders to Vote FOR Approval of King Street Sub-Adviser Ahead of August 6th Special Meeting&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-988516","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>XFLT Board Urges Shareholders to Vote FOR Approval of King Street Sub-Adviser Ahead of August 6th Special Meeting - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xflt-board-urges-shareholders-to-vote-for-approval-of-king-street-sub-adviser-ahead-of-august-6th-special-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XFLT Board Urges Shareholders to Vote FOR Approval of King Street Sub-Adviser Ahead of August 6th Special Meeting - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"A Compelling Majority of Engaged Shareholders Voted \u201c FOR \u201d the King Street Sub-Adviser Board\u2019s Proposed Liquidity Plan Becomes Effective Upon Approval of The King Street Sub-Advisory Agreement XFLT Asks Shareholders to Vote Today on the WHITE Proxy Card \u201c FOR \u201d the King Street Sub-Advisory Agreement CHICAGO, Aug. 03, 2026 (GLOBE NEWSWIRE) &#8212; XAI Floating Rate &amp; Alternative Income Trust (XFLT) (the \u201cFund\u201d) urges shareholders to vote today on the\u00a0WHITE proxy card \u201cFOR\u201d the long-term appointment of interim sub-adviser Rockford Tower Asset Management, L.L.C. (the \u201cKing Street Sub-Adviser\u201d), a wholly owned subsidiary of King Street Capital Management, L.P. (\u201cKing Street\u201d), ahead of the reconvened Special Meeting of Shareholders on August 6, 2026. 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(the \u201cKing Street Sub-Adviser\u201d), a wholly owned subsidiary of King Street Capital Management, L.P. (\u201cKing Street\u201d), ahead of the reconvened Special Meeting of Shareholders on August 6, 2026. 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