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Priority Income Fund to sell $25-par term preferred stock due 2024
By James McCandless
San Antonio, Feb. 19 – Priority Income Fund, Inc. plans to offer $25-par series C term preferred stock due 2024, according to a press release.
Ladenburg Thalmann & Co. Inc., BB&T Capital Markets, B. Riley FBR, Inc. and Incapital LLC are the joint bookrunners.
Maxim Group LLC is the co-manager.
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 plans to list the preferreds on the New York Stock Exchange under the symbol “PFIFC.”
Priority Income Fund is a New York City-based closed end fixed income mutual fund.
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