Priority Income Fund to sell five-year term preferred stock

By James McCandless

San Antonio, Oct. 3 – Priority Income Fund, Inc. plans to price an offering of series E term preferred stock due 2024, according to a press release.

There is a greenshoe.

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

The co-manager is Maxim Group LLC.

Priority Income 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 “PRIFE.”

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

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