Priority Income Fund, Inc. Launches Preferred Stock Offering

NEW YORK–(BUSINESS WIRE)–Priority Income Fund, Inc. (the “Company”) today announced that it plans
to offer shares of its Series C Term Preferred Stock due 2024 (the
“Preferred Stock”) in an underwritten public offering. The terms of the
Preferred Stock are to be determined by negotiations between the Company
and the underwriters. In addition, the Company plans to grant the
underwriters a 30-day option to purchase additional shares of the
Preferred Stock to cover overallotments, if any.

The Company has applied to list the Preferred Stock on the New York
Stock Exchange (“NYSE”) under the ticker symbol “PRIFC”. If the
application is approved, trading on the NYSE in the Preferred Stock is
expected to begin within 30 days following the issuance date of the
Preferred Stock. The Series C Term Preferred Stock has been assigned a
private rating of “AA” by Egan-Jones Ratings Co.

The Company plans to use the net proceeds from the offering of the
Preferred Stock to acquire investments in accordance with its investment
objectives and strategies and for general corporate purposes.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc., is acting as lead book-running manager for the
offering. BB&T Capital Markets, a division of BB&T Securities, LLC, B.
Riley FBR, Inc. and Incapital LLC are acting as joint book-running
managers and Maxim Group LLC is acting as a co-manager for the offering.

Investors should consider the Company’s investment objectives, risks,
charges and expenses carefully before investing. The preliminary
prospectus, which contains this and other information about the Company,
should be read carefully before investing. The information in the
preliminary prospectus and in this press release is not complete and may
be changed. The Company may not sell these securities until the
registration statement filed with the Securities and Exchange Commission
(the “SEC”) relating to the securities described herein is effective.
This press release is not an offer to sell these securities and is not
soliciting an offer to buy these securities in any state where the offer
or sale is not permitted.

Copies of the preliminary prospectus (and the final prospectus, when
available) may be obtained by writing: Ladenburg Thalmann & Co. Inc.,
277 Park Avenue, 26th Floor, New York, New York 10172, or:
1-800-573-2541, or:
Copies may also be obtained by visiting EDGAR on the SEC’s website at

About Priority Income Fund

Priority Income Fund, Inc., is a registered closed-end fund that was
created to acquire and grow an investment portfolio primarily consisting
of senior secured loans or pools of senior secured loans known as
collateralized loan obligations (“CLOs”). Such loans will generally have
a floating interest rate and include a first lien on the assets of the
respective borrowers, which typically are private and public companies
based in the United States. For more information, visit


This press release may contain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995.
Statements other than statements of historical facts included in this
press release may constitute forward-looking statements and are not
guarantees of future performance or results and involve a number of
risks and uncertainties. Actual results may differ materially from those
in the forward-looking statements as a result of a number of factors,
including those described in the prospectus and the Company’s other
filings with the SEC. The Company undertakes no duty to update any
forward-looking statement made herein. All forward-looking statements
speak only as of the date of this press release.



Investor Relations Contact:
Rob Watson
For Priority Income
Fund, Inc.

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