Priority Income Fund, Inc. (the “Fund”) announced plans to redeem all outstanding shares of its 6.625% Series F Term Preferred Stock, due 2027 (NYSE: PRIF PRF). The shares will be redeemed at a price of $25 per share, plus accrued but unpaid dividends, from March 31, 2025, to the redemption date, June 11, 2025.
On the redemption date, the redemption price will be due, and dividends on the redeemed shares will cease to accumulate. Once redeemed, holders of the Series F Preferred Shares will only be entitled to the redemption price. The shares are held through The Depository Trust Company and will be redeemed following the standard procedures.
This announcement is not a formal notice of redemption under the articles supplementary governing the shares. After the redemption, the Fund will retain outstanding shares from its other preferred stock classes, including the 7.00% Series D Term Preferred Stock due 2029, 6.125% Series I Term Preferred Stock due 2028, 6.000% Series J Term Preferred Stock due 2028, 7.000% Series K Cumulative Preferred Stock, and 6.375% Series L Term Preferred Stock due 2029.
About Priority Income Fund
Priority Income Fund, Inc. is a closed-end fund focused on acquiring and managing a portfolio of senior secured loans and collateralized loan obligations (CLOs). These loans typically have floating interest rates and a first lien on the assets of their borrowers, which include private and public companies in the United States. The Fund is managed by Priority Senior Secured Income Management, LLC, led by a team from Prospect Capital Management L.P.
About Prospect Capital Management L.P.
Prospect Capital Management, based in New York City, is an SEC-registered investment adviser with over 37 years of experience in managing high-yield debt and equity investments. The firm manages over $8.3 billion in assets, as of December 31, 2024.
Forward-Looking Statements
This press release may contain forward-looking statements about the Fund’s future performance. These statements are subject to various risks and uncertainties that could cause actual results to differ significantly. The Fund does not guarantee future performance and is under no obligation to update any forward-looking statements.
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