Priority Income to price $25 million series K cumulative preferreds

By Marisa Wong

Los Angeles, Oct. 4 – Priority Income Fund, Inc. plans to price $25 million of $25-par series K cumulative preferred stock, according to a 424A filing with the Securities and Exchange Commission.

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

The preferreds will be callable.

The company has applied to list the series K preferreds on the New York Stock Exchange under the symbol “PRIFK.”

Proceeds will be used to redeem all of the company’s series E term preferred stock, to acquire investments and for general working capital purposes.

The externally managed non-diversified closed-end management investment company is based in New York.

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