| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | FINS | Common Stock | Exercise of in-the-money or at-the-money derivative security | $12.3K | +765 | +23.47% | $16.06 | 4.02K | Oct 19, 2021 | Direct | F1, F2, F3, F4 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | FINS | Oversubscription Privilege (Contingent Right to Buy) | Exercise of in-the-money or at-the-money derivative security | -2.3K | -100% | 0 | Oct 19, 2021 | Common Stock | 765 | Direct | F1, F2, F3, F4 |
| Id | Content |
|---|---|
| F1 | Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the "Fund") issued transferrable rights ("Rights") to the holders of the Fund's common shares ("Common Shareholders") of beneficial interest ("Common Shares") as of September 20, 2021 (the "Record Date"). The Fund distributed to Common Shareholders of record as of the Record Date ("Record Date Shareholders") one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3). The subscription period commenced on the Record Date and expired on October 14, 2021 (the "Expiration Date"). |
| F2 | Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund. |
| F3 | On October 14, 2021 (the "Expiration Date"), the Reporting Person fully exercised their Rights to purchase 815 Common Shares (previously reported on a Form 4 filed on October 18, 2021). On October 19, 2021, the third-party Subscription Agent for the Offering determined the allocations to be made to Record Date Shareholders who exercised their oversubscription privilege. The Reporting Person purchased an additional 765 Common Shares pursuant to the oversubscription privileges based on the Subscription Agent's oversubscription allocation. |
| F4 | The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. |