Company: PRIF-PJ
Filing Date: 2025-03-26
Form Type: N-2
Source: 0001554625-25-000027
Chunk: 61

Company: Priority Income Fund, Inc.
Filing Date: 2025-03-26
Form: N-2
Chunk 61
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 us after February 28, 2025. As a result, our redemption of the Series D Term Preferred Stock, Series F Term Preferred Stock, Series I Term Preferred Stock, Series J Term Preferred Stock, and Series L Term Preferred Stock may impact our ability to continue to pay dividends on the Series M Term Preferred Stock. In addition, the terms of any future indebtedness we may incur could preclude the payment of dividends in respect of equity securities, including the Series M Term Preferred Stock, under certain conditions.

There is a risk of delay in our redemption of the Series M Term Preferred Stock, and we may fail to redeem such securities as required by their terms.

We generally make investments in CLO vehicles whose securities are not traded in any public market. Substantially all of the investments we presently hold and the investments we expect to acquire in the future are, and will be, subject to legal and other restrictions on resale and will otherwise be less liquid than publicly traded securities. The illiquidity of our investments may make it difficult for us to obtain cash equal to the value at which we record our investments quickly if a need arises. If we are unable to obtain sufficient liquidity prior to the Mandatory Redemption Date, we may be forced to engage in a partial redemption or to delay a required redemption. If such a partial redemption or delay were to occur, the market price of shares of the Series M Term Preferred Stock might be adversely affected .

A downgrade, suspension or withdrawal of the rating assigned by a rating agency to the Series M Term Preferred Stock could cause the liquidity or market value of the shares to decline significantly.

The credit rating assigned to the Series M Term Preferred Stock is an assessment by rating agencies of our ability to pay dividends on the Series M Term Preferred Stock when they are due. Consequently, real or anticipated changes in the credit rating assigned to the Series M Term Preferred Stock will generally affect their market value. The credit rating may not reflect the potential impact of risks relating to the structure or marketing of the Series M Term Preferred Stock. Credit ratings are not a recommendation to buy, sell or hold any security, and may be revised or withdrawn at any time by the issuing organization in its sole discretion. Neither we nor the Agents undertake any obligation to maintain the ratings or to advise holders of Series M Term Preferred Stock of any changes in ratings.

We anticipate the Series M Term Preferred Stock will be assigned a private rating by a credit rating agency. There can be no assurance that this rating will remain for any given period of time or that this rating will not