Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, April 19, 6:41 AM
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Slide #143. Priority Income Fund, Inc. — Preferred Stock Offering
Company:
Priority Income Fund, Inc. (PRIF*)
Date announced:
2/23/2022
Shares Offered:
1,040,000
Date of Pricing:
2/23/2022
Price Per Share:
$25.00
Preferred Stock Offering Details:
Priority Income Fund, Inc. (the Company) today announced that it has priced an underwritten public offering of 1,040,000 shares of 6.375% Series L Term Preferred Stock due 2029 (the Preferred Stock) at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $24.9 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 156,000 shares of 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 PRIF PRL. 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 Preferred Stock has been assigned a private rating of BBB- by Egan-Jones Ratings Co.
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