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NEW YORK, March 10, 2025 (GLOBE NEWSWIRE) -- Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that it will redeem all outstanding shares of its 6.000% Series H Term Preferred Stock Due 2026 (CUSIP: 74274W 798; NYSE: PRIF PRH) (the “Series H Preferred Shares”) at a price of $25 per Series H Preferred Share, plus accrued but unpaid dividends per Series H Preferred Share from March 31, 2025, to but excluding, the Redemption Date (the “Redemption Price”). The redemption date will be April 9, 2025 (the “Redemption Date”).
On the Redemption Date, the Redemption Price will become due and payable on the Series H Preferred Shares and any dividends shall cease to accumulate on the Series H Preferred Shares that are redeemed from and after such date. Unless the Fund defaults in the payment of the Redemption Price, dividends on the Series H Preferred Shares that are redeemed will cease to accumulate on and after the Redemption Date, and the only remaining right of the holders of the Series H Preferred Shares that are redeemed is to receive payment of the Redemption Price.
The Series H Preferred Shares are held through The Depository Trust Company and will be redeemed in accordance with the applicable procedures.
This press release does not constitute a notice of redemption under the articles supplementary governing the shares.
Following redemption of the Series H Preferred Shares, the Fund will have outstanding shares of 7.00% Series D Term Preferred Stock due 2029 (NYSE: PRIF PRD), 6.625% Series F Term Preferred Stock due 2027 (NYSE: PRIF PRF), 6.125% Series I Term Preferred Stock due 2028 (NYSE: PRIF PRI), 6.000% Series J Term Preferred Stock due 2028 (NYSE: PRIF PRJ), 7.000% Series K Cumulative Preferred Stock (NYSE: PRIF PRK), and 6.375% Series L Term Preferred Stock due 2029 (NYSE: PRIF PRL).
About Priority Income Fund
Priority Income Fund, Inc. is a registered closed-end fund that was created to acquire and grow an investment portfolio primarily consisting of senior secured loans or pools of senior secured loans known as collateralized loan obligations ("CLOs"). Such loans will generally have a floating interest rate and include a first lien on the assets of the respective borrowers, which typically are private and public companies based in the United States. The Fund is managed by Priority Senior Secured Income Management, LLC, which is led by a team of investment professionals from the investment and operations team of Prospect Capital Management L.P. (“Prospect”). For more information, visit https://www.priorityincomefund.com.