Priority Income Fund, Inc. Preferred Share Offer Price | Your money

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NEW YORK, Oct. 04, 2021 (GLOBE NEWSWIRE) – Priority Income Fund, Inc. (the “Company”) today announced that it has priced a tender offer of 1,400,000 shares to 7,000% cumulative preferred shares of Series K (the “Preferred Shares”) at a public offering price of $ 25 per share, which will result in net proceeds to the Company of approximately $ 33.7 million. dollars after payment of the subscription rebates and commissions and the estimated offering fees payable by the Company. In addition, the Company has granted the underwriters a 30-day option to purchase up to 200,000 additional preferred shares to cover the over-allotments , if applicable.

The Company has applied to list the preferred shares on the New York Stock Exchange (“NYSE”) under the ticker symbol “PRIFK”. If the application is approved, trading on the NYSE of the preferred shares is expected to commence within 30 days of the date of issue of the preferred shares. The preferred stock has been assigned a private rating of “BBB-” by Egan-Jones Ratings Co.

The Company intends to use the net proceeds of the preferred share offering to redeem all of the Company’s existing Series E forward preferred shares, to acquire investments in accordance with its investment objective and strategies, and for general working capital purposes. The Company will redeem the 1,021,674 forward preferred shares, Series E on October 8, 2021 for a redemption price of $ 25 per share of forward preferred shares, Series E, plus accrued but unpaid dividends per share of shares. preferred term series E from September 30. , 2021, to October 8, 2021, but excluding.

The offering is expected to close on October 7, 2021, subject to customary closing conditions.

Ladenburg Thalmann & Co. Inc. is acting as lead manager of the offering and B. Riley Securities, Inc., Compass Point Research & Trading, LLC, InspereX LLC, Wedbush Securities Inc. and William Blair & Company, LLC are acting as as co-book managers for the offer.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Company before investing. The provisional prospectus and the final prospectus, when available, which contain this and other information about the Company, should be read carefully before investing. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities of this offering or any other security and there will be no sale of such securities or any other security mentioned in this press release in any state or jurisdiction in which such offering, solicitation or sale would be illegal before registration or qualification under the securities laws of that state or jurisdiction.

The offer of the Preferred Shares can only be made by means of a prospectus. Copies of the preliminary prospectus (and the final prospectus, when available) may be obtained by writing to: Ladenburg Thalmann & Co. Inc., 640 5th Avenue, 4th Floor, New York, New York 10019, or: 1- 800-573-2541, or: [email protected] Copies can also be obtained by visiting EDGAR on the SEC’s website at www.sec.gov.

About the Priority Income Fund

Priority Income Fund, Inc., is a registered closed-end fund that was established to acquire and develop an investment portfolio consisting primarily of senior secured loans or pools of senior secured loans known as secured loan obligations (“CLOs”). These loans will generally have a variable interest rate and will include a first lien on the assets of the respective borrowers, which are usually private and public companies based in the United States. The company 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 LP.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact included in this press release may constitute forward-looking statements and are not guarantees of performance. future or results and involve a number of risks and uncertainties. Actual results may differ materially from those of forward-looking statements due to a number of factors, including those described in the prospectus and other documents filed by the Company with the SEC. The Company assumes no obligation to update any forward-looking statements contained in this document. All forward-looking statements speak only as of the date of this press release.

Investor Relations Contact: Lindsey Harrison [email protected] 646-845-6059

NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE IN VALUE

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