Priority Income plans to price 7% cumulative preferreds at $25.25

By James McCandless

San Antonio, May 13 – Priority income Fund, Inc. plans to price an offering of series D fixed cumulative preferred stock due 2029 at $25.25 with a dividend of 7%, according to a filing with the Securities and Exchange Commission.

Incapital LLC is the purchasing agent and distributor. Ladenburg Thalmann & Co. Inc. is also an agent of the program.

The offering is part of the company’s continuous preferred stock issuance program that was announced on April 29.

Priority Income plans to list the series D preferreds on the New York Stock Exchange under the symbol “PRIFD.”

The preferreds are rated AA- by Egan-Jones.

Priority Income Fund is a New York City-based closed-end fixed-income mutual fund.

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