Company: PRIF-PJ
Filing Date: 2025-03-26
Form Type: N-2
Source: 0001554625-25-000027
Chunk: 34

Company: Priority Income Fund, Inc.
Filing Date: 2025-03-26
Form: N-2
Chunk 34
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 Time, on April 30, 2025. The purchase price per share will equal the net asset value per share of common stock as of April 30, 2025.

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THE OFFERING

| Issuer                 |     | Priority Income Fund, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Securities Offered     |     | 1,000,000 shares of Series M Term Preferred Stock. An additional [___] shares of Series M Term Preferred Stock will be issuable pursuant to an overallotment option granted to the underwriters.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Listing                |     | We have applied to list Series M Term Preferred Stock on the New York Stock Exchange, or the “NYSE,” under the symbol “PRIF PRM.”  If the application is approved, trading in Series M Term Preferred Stock on the NYSE is expected to begin within 30 days after the initial issuance date of the Series M Term Preferred Stock upon the closing of the offering, which we refer to as the Date of Original Issue. Prior to the expected commencement of trading, the underwriters may, but are not obligated, to make a market in Series M Term Preferred Stock. Our common stock is not listed on an exchange and will not be listed on an exchange in the foreseeable future, if at all.                                                                                                     |
| Use of Proceeds        |     | We intend to use the net proceeds from this offering (after the payment of underwriting discounts and commissions of $[___] and estimated offering expenses of approximately $[___]) to acquire investments in accordance with our investment objective and strategies, as described in this prospectus, and for general working capital purposes. See “Use of Proceeds.”                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Liquidation Preference |     | $25 per share, plus accrued but unpaid dividends, if any. In the event of any liquidation, dissolution or winding up of our affairs, holders of the Series M Term Preferred Stock will be entitled to receive a liquidation distribution per share equal to $25 per share (which we refer to in this prospectus as the Liquidation Preference), plus an amount equal to all accrued but unpaid dividends, if any, accumulated to (but excluding) the date fixed for distribution or payment, whether or not earned or declared by us, but excluding interest on any such distribution or payment. See “Description of the Series M Term Preferred Stock - Liquidation Rights.”                                                                                                                   |
| Dividends              |     | The