Underwriters of Eagle Point Income Company Inc.'s IPO partially exercised their overallotment option by purchasing an additional 162,114 common shares, resulting in additional net proceeds to the company of about $3.2 million.
Eagle Point Income Management LLC, the company's investment adviser, or its affiliates paid or will pay the full amount of the sales load in connection with the IPO, including the overallotment option, and all of the company's organizational expenses and offering expenses incurred prior to or in connection with the IPO that exceed $750,000, excluding the sales load.
Eagle Point Income Company plans to use the proceeds from the stock offering to acquire investments and for general working capital purposes.
National Securities Corp. and B. Riley FBR Inc. acted as joint book-running managers for the offering. Wedbush Securities Inc. and Maxim Group LLC served as co-managers.
The company's IPO of 1.2 million shares was completed July 26. The company's shares began trading on the NYSE under the symbol EIC on July 24.
