Company: PRIF-PJ
Filing Date: 2025-03-26
Form Type: N-2
Source: 0001554625-25-000027
Chunk: 18

Company: Priority Income Fund, Inc.
Filing Date: 2025-03-26
Form: N-2
Chunk 18
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 our common stockholders, we may borrow money from time to time at the discretion of our Adviser within the levels permitted by the 1940 Act (which generally allows us to incur indebtedness so long as our asset coverage ratio is at least 300% with respect to and after incurring such indebtedness or issue preferred stock so long as our asset coverage ratio is at least 200% with respect to and after issuing such preferred stock) when the terms and conditions available are favorable to long-term investing and well-aligned with our investment strategy and portfolio composition. In determining whether to borrow money, we will analyze the maturity, covenant package and rate structure of the proposed borrowings as well as the risks of such borrowings compared to our investment outlook.

As of December 31, 2024, we had, approximately, $27.4 million of shares of 7.00% Series D Term Preferred Stock due 2029 outstanding, $30.8 million of 6.625% Series F Term Preferred Stock due 2027 outstanding, $29.9 million of 6.000% Series H Term Preferred Stock due 2026 outstanding, $40.0 million of 6.125% Series I Term Preferred Stock due 2028

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outstanding, $39.5 million of 6.000% Series J Term Preferred Stock due 2028 outstanding, $40 million of 7.000% Series K Cumulative Preferred Stock outstanding, $27.5 million of 6.375% Series L Term Preferred Stock due 2029 outstanding (collectively, the “Preferred Stock”), $38.2 million under the Facility outstanding and $30 million in aggregate principal amount of our 2035 Notes outstanding and our asset coverage ratio, with respect to the Preferred Stock, was approximately 293%. The table below summarizes our asset coverage per unit as of December 31, 2024.

| Senior Securities as of December 31, 2024(a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |     |                              |            |     |                         |        |     |                                                   |       |     |                                  |       |     |
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| Senior Securities