Priority Income Fund launches sale of $25-par preferreds due 2025

By James McCandless

San Antonio, June 26 – Priority Income Fund, Inc. launched an offering of $25-par series A term preferred stock due 2025, according to a press release.

Ladenburg Thalmann & Co. Inc., BB&T Capital Markets and B. Riley FBR, Inc. are the joint bookrunners.

Incapital LLC and Maxim Group LLC are the co-managers.

Priority Income Fund plans to use the proceeds to acquire investments in accordance with its investment objectives and strategies and for general corporate purposes.

The company intends to list the preferreds on the New York Stock Exchange under the symbol “PrIFA.”

Priority Income Fund is a New York City-based closed-end fixed income mutual fund specializing in senior secured loans and CLOs.

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