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Priority Income Fund to initiate preferred stock offering

Priority Income Fund Inc. intends to offer its series B term preferred shares due 2023, in an underwritten public offering.

The company will grant the underwriters a 30-day option to purchase additional preferred shares to cover any overallotments.

Priority Income has applied to list its preferred stock on the New York Stock Exchange under the ticker PRIFB. The company intends to use the net proceeds from the offering to make investments in line with objectives and for general corporate purposes.

Ladenburg Thalmann & Co. Inc. is lead book-running manager for the offering. BB&T Capital Markets, B. Riley FBR Inc. and Incapital LLC are joint book-running managers and Maxim Group LLC is co-manager for the offering.