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Priority Income plans upsized $50 million series L preferreds
By Marisa Wong
Los Angeles, Feb. 1 – Priority Income Fund, Inc. plans to price $50 million of series L cumulative preferred stock, according to an amended N-2 filing with the Securities and Exchange Commission.
The maximum offering size was increased from the $25 million announced on Jan. 25.
The $25-par preferreds will be callable.
Ladenburg Thalmann & Co. Inc. is the bookrunner.
Proceeds will be used to acquire investments and for general working capital purposes.
The company has applied to list the series L preferreds on the New York Stock Exchange under the symbol “PRIFPrL.”
The externally managed non-diversified closed-end management investment company is based in New York.
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