IPO - Eagle Point Income Co Inc.

Form Type: N-2

Filing Date: 2024-08-23

Corporate Action: Ipo

Type: New

Accession Number: 000110465924092477

Filing Summary: Eagle Point Income Company Inc. filed this registration statement under the Securities Act of 1933 and Investment Company Act of 1940 on August 23, 2024. The statement proposes a public offering of up to $750 million in various securities including common stock, preferred stock, subscription rights, and debt securities. The company, a closed-end management investment company, focuses on generating high current income and potential capital appreciation by investing primarily in junior debt tranches of collateralized loan obligations (CLOs), specifically targeting below investment-grade senior secured loans. The firm intends to conduct offerings on a delayed or continuous basis as permitted under SEC rules. As of June 30, 2024, it had over $10 billion in assets under management. The common stock is listed on the NYSE under the symbols EIC, EICA, EICB, and EICC, with a last reported price of $15.22 per share on August 22, 2024. Shareholders are warned about the risks associated with investing in securities traded at a discount to net asset value (NAV), which the company regularly evaluates. The offering is structured as a shelf registration, allowing flexibility in timing and pricing of the securities.