Priority Income launches series J preferred stock offering due 2028

Chicago, Aug. 5 – Priority Income Fund, Inc. launched an offering of series J term preferred stock due 2028 (Egan-Jones: BBB-), according to a 497AD filing with the Securities and Exchange Commission.

Underwriters will be granted a 30-day overallotment option.

The preferreds will be listed on the New York Stock Exchange as “PRIFJ.”

Proceeds will be used to redeem all of the company’s existing series A term preferred stock, to acquire investments in accordance with its investment objective and strategies, and for general working capital purposes.

Ladenburg Thalmann & Co. Inc. is the lead bookrunner.

B. Riley Securities, Inc., Compass Point Research & Trading, LLC, InspereX LLC, Wedbush Securities Inc., and William Blair & Co., LLC are joint bookrunners.

Priority Income is a New York-based non-diversified closed-end management investment company.

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