Certain Common Shares of Beneficial Interest of Angel Oak Financial Strategies Income Term Trust are subject to a Lock-Up Agreement Ending on 24-NOV-2019.
November 23, 2019
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Certain Common Shares of Beneficial Interest of Angel Oak Financial Strategies Income Term Trust are subject to a Lock-Up Agreement Ending on 24-NOV-2019. These Common Shares of Beneficial Interest will be under lockup for 180 days starting from 28-MAY-2019 to 24-NOV-2019.
Details:
Certain financial institutions and their affiliates and certain members of senior management of the Adviser who have indicated an interest in purchasing Shares in this offering have agreed that, (i) for a period of 180 days from the date of this Prospectus, such party will not, without the prior written consent of the Representatives, on behalf of the Underwriters, offer, pledge, sell, contract to sell or otherwise dispose of or agree to sell or otherwise dispose of, directly or indirectly, or hedge any Shares or any securities convertible into or exchangeable for Shares.
Angel Oak Financial Strategies Income Term Trust (the Fund) is a diversified closed-end management investment company. The investment objective of the Fund is to seek current income with a secondary objective of total return. Under normal circumstances, the Fund will invest at least 80% of the value of its net assets plus the amount of any borrowings for investment purposes in securities of United States and non-United States financial institutions, which may include, but are not limited to, banks, thrifts, finance companies, business development companies (BDCs) that invest in loans, commercial mortgage and residential mortgage real estate investment trusts, brokerage and advisory firms, insurance companies and financial holding companies. The Fund invests primarily in debt issued by financial institutions, including subordinated debt, unrated debt, senior debt and high yield securities. Its investment adviser is Angel Oak Capital Advisors, LLC.
Certain Common Shares of Beneficial Interest of Angel Oak Financial Strategies Income Term Trust are subject to a Lock-Up Agreement Ending on 24-NOV-2019.