UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~Washington~~WASHINGTON, ~~D.C.~~DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of ~~Report~~report (Date of earliest event reported): ~~September 20,~~April ~~2021 (September 20~~1, ~~2021)~~ 2025

ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST

(Exact name of ~~registrant~~Registrant as ~~specified~~Specified in ~~its~~Its ~~charter~~Charter)

Delaware	811-23358	83-1328557
DELAWARE	811-23358	83-1328557
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
3344 Peachtree Road NE, Suite 1725 Atlanta, Georgia		30326
(Address of principal executive offices)		(Zip Code)

Registrants telephone number, including area code (404) 953-4900

3344 Peachtree Road NE, Suite 1725

Atlanta, Georgia

30326

(Address of Principal Executive Offices)

(Zip Code)

~~(Former~~Registrant’s ~~name~~telephone ~~or former address~~number, ifincluding ~~changed~~area ~~since~~code: ~~last report.~~(404) 953-4900

~~Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:~~ N/A

~~☐ Written communications pursuant to Rule 425 under the Securities Act~~ (17Former ~~CFR~~Name ~~230.425)~~or ☐Former ~~Soliciting~~Address, ~~material~~if ~~pursuant~~Changed toSince ~~Rule~~Last ~~14a-12 under the Exchange Act (17 CFR 240.14a-12~~Report) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on ~~whichregistered~~which registered Common Shares of Beneficial Interest FINS New York Stock Exchange ~~Subscription Rights for Common Shares FINS.RT New York Stock Exchange~~

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ ☐

Item 1 8.01. ~~Entry~~Other ~~into a Material Definitive Agreement~~Events.

On ~~September~~April 201, ~~2021~~2025, Angel Oak Financial Strategies Income Term Trust (~~NYSE: FINS) (~~the “~~Trust~~Fund”) ~~entered~~issued ~~into~~ a ~~dealer~~press ~~manager~~release ~~agreement~~announcing ~~(the~~that ~~“Dealer~~Angel ~~Manager~~Oak ~~Agreement”)~~Companies, byLP, ~~and among~~ the ~~Trust,~~parent of Angel Oak ~~Capital~~Asset ~~Advisors~~Management Holdings, LLC, ~~and~~itself ~~UBS Securities LLC in connection with~~ the ~~issuance~~parent byof ~~the~~Angel ~~Trust~~Oak toCapital ~~the~~Advisors, ~~holders~~LLC ~~of record~~ (~~the~~ “~~Record~~Angel ~~Date Shareholders~~Oak”), at the ~~close~~investment adviser of ~~business~~the ~~on September 20~~Fund, ~~2021~~announced ~~(the~~a ~~“Record~~strategic ~~Date”)~~partnership ~~transferable~~with ~~rights~~Brookfield ~~(each~~Asset aManagement ~~“Right”~~Ltd. ~~and, collectively, the~~ (“~~Rights~~Brookfield”) ~~entitling~~in ~~such~~which ~~Record~~Brookfield ~~Date~~has ~~Shareholders~~agreed to ~~subscribe~~acquire ~~for up~~a tomajority ~~5,076,333 common shares~~ of ~~beneficial~~Angel ~~interest,~~Oak ~~par value $0.001 per share (the “Common Shares”)~~Companies, ofLP ~~the Fund~~ (the “~~Offer~~Transaction”). ~~The~~A ~~Record~~copy Date Shareholders will receive one Right for each outstanding Common Share owned on the Record Date. The Rights entitle the holders to purchase one new Common Share for every three Rights held (1 for 3). Record Date Shareholders who fully exercise their Rights will be entitled to subscribe, subject to certain limitations and subject to allotment, for additional Common Shares covered by any unexercised Rights. Any Record Date Shareholder who owns fewer than three Common Shares as of the ~~close~~press ofrelease ~~business on the Record Date~~ is ~~entitled~~attached tohereto ~~subscribe~~as ~~for~~Exhibit ~~one full Common Share in the Offer~~99.1.

The ~~Offer~~closing isof ~~being~~the ~~made~~Transaction ~~pursuant~~is aexpected ~~prospectus~~to ~~supplement,~~be ~~dated~~completed by September 2030, ~~2021,~~2025. ~~and~~The Transaction is not expected to result in any material change in the ~~accompanying prospectus,~~day-to-day ~~dated~~management ~~September 9,~~of ~~2021~~the Fund. However, ~~each~~the closing of ~~which~~the ~~constitute~~Transaction ~~part~~is ofsubject to certain conditions, and there can be no assurance that the ~~Trust’s~~Transaction ~~effective~~will ~~shelf~~be ~~registration~~completed ~~statement~~as onplanned, ~~Form~~or ~~N-2~~that ~~(File~~the Nonecessary conditions will be satisfied. ~~333-240132) previously~~ ~~filed~~If ~~with~~successful, the ~~Securities~~closing ~~and~~of ~~Exchange~~the ~~Commission~~Transaction ~~(the~~will ~~“Registration~~result ~~Statement”)~~in a change of control of Angel Oak.

~~The~~Item 9.01. ~~foregoing description~~Financial ofStatements ~~the Dealer Manager Agreement does not purport to be complete~~ and ~~is qualified in its entirety by reference to the full text of the Dealer Manager Agreement filed with this report as Exhibit 1~~Exhibits.1 ~~and incorporated herein by reference.~~

In connection with the Offer, the Trust entered into a Subscription Agent Agreement dated as of September 15, 2021 with Computershare Inc. and Computershare Trust Company, N.A. (“Subscription Agent Agreement”), and an Information Agent Agreement dated as of August 12, 2021 with Georgeson LLC (“Information Agent Agreement”) to provide services with respect to the Offer.

The foregoing description is only a summary of the Subscription Agent Agreement and Information Agent Agreement and is qualified in its entirety by reference to the text of the Subscription Agent Agreement filed with this report as Exhibit 10.1 and incorporated herein by reference and Information Agent Agreement filed with this report as Exhibit 10.2 and incorporated herein by reference.

Item 8.01. Other Events

On September 20, 2021, the Trust commenced the Offer pursuant to the Registration Statement. A copy of the opinion of Dechert LLP relating to the legality of the Offer is filed as Exhibit 5.1 to this report.

The Trust incorporates by reference the exhibits filed herewith into the Registration Statement.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

199.1 ~~Dealer~~Press ~~Manager~~Release ~~Agreement~~dated April 1, 2025

~~5.1~~SIGNATURES ~~Opinion of Dechert LLP~~

~~10.1~~Pursuant ~~Subscription~~to ~~Agent~~the ~~Agreement~~requirements of the Securities Exchange Act of 1934, Angel Oak Financial Strategies Income Term Trust has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

10.2 Information Agent Agreement

23.1 Consent of Dechert LLP (included in Exhibit 5.1)

99.1 Form of Notice of Guaranteed Delivery for Rights Offering

99.2 Form of Subscription Certificate for Rights Offering

99.3 Form of Instrument of Designation of Rights

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Angel Oak Financial Strategies Income Term Trust
Date: September 20, 2021	By:	/s/ Dory S. Black
	Name:	Dory S. Black
	Title:	President

Angel Oak Financial Strategies Income Term Trust

Date: April 1, 2025

/s/ Adam Langley

Adam Langley

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