IPO - Priority Income Fund, Inc.

Form Type: 497AD

Filing Date: 2025-04-25

Corporate Action: Ipo

Type: New

Accession Number: 000155462525000032

Filing Summary: Priority Income Fund, Inc. intends to seek a public listing of shares of its common stock on a national securities exchange, aiming for a target listing date within the next twelve months. The Fund has engaged Lucid Capital Markets, LLC for advisory support regarding this listing. The Board of Directors has decided to suspend the offering of the Fund's shares after the May 1, 2025 monthly share purchase date, contingent on financial and market conditions. The goal of the listing is to potentially improve investor liquidity and reduce total fund expenses. Additionally, the operating member of the Fund’s investment adviser will waive certain Fund expenses, amounting to 25 bps per annum of the Fund’s net assets, for the quarter starting July 1, 2025, with possibilities for future waivers.

Form Type: N-2

Filing Date: 2025-03-26

Corporate Action: Ipo

Type: New

Accession Number: 000155462525000027

Filing Summary: Priority Income Fund, Inc. has filed a registration statement under the Securities Act of 1933 for an offering of its Series M Term Preferred Stock due 2030, with a par value of $0.01 per share. The fund is an externally managed, diversified closed-end management investment company, which seeks to generate current income and, as a secondary objective, long-term capital appreciation. The company intends to primarily invest at least 80% of its total assets in senior secured loans rated below investment grade and has described its investment strategy concerning these loans, which are often associated with higher risks. The Series M Term Preferred Stock is structured for a mandatory redemption by June 30, 2030, with the conditions under which the company can redeem these shares, as well as dividend details. The preferred stock will be offered on a public basis, and there's an application for listing on the NYSE under the ticker symbol 'PRIF PRM'. Additionally, the company emphasizes the risks associated with the investment, including potential losses and market fluctuations. Key financial metrics and details regarding other series of preferred stock are also highlighted in the document.