Company: PRIF-PJ
Filing Date: 2025-03-26
Form Type: N-2
Source: 0001554625-25-000027
Chunk: 169

Company: Priority Income Fund, Inc.
Filing Date: 2025-03-26
Form: N-2
Chunk 169
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 Preferred Stock as to payment of dividends and distribution of assets upon dissolution, liquidation or the winding up of our affairs, in addition to then outstanding shares of Preferred Stock, including additional series of Preferred Stock, and authorize, issue and sell additional shares of any such series of Preferred Stock then outstanding or so established and created, including additional Preferred Stock, in each case in accordance with applicable law, provided that we will, immediately after giving effect to the issuance of such additional Preferred Stock and to its receipt and application of the proceeds thereof, including to the redemption of Preferred Stock with such proceeds, have asset coverage of at least 200%.

#### Actions on Other than Business Days
Unless otherwise provided in the Articles Supplementary, if the date for making any payment, performing any act or exercising any right is not a Business Day, such payment will be made, act performed or right exercised on the next succeeding Business Day, with the same force and effect as if made or done on the nominal date provided therefor, and, with respect to any payment so made, no dividends, interest or other amount will accrue for the period between such nominal date and the date of payment.

#### Modification
The Board of Directors, without the vote of the holders of Preferred Stock, may interpret, supplement or amend the provisions of the Articles Supplementary or any appendix thereto to supply any omission, resolve any inconsistency or ambiguity or to cure, correct or supplement any defective or inconsistent provision, including any provision that becomes defective after the date hereof because of impossibility of performance or any provision that is inconsistent with any provision of any other Preferred Stock.

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### DESCRIPTION OF OUR DEBT SECURITIES
On January 27, 2020, we issued $15 million in aggregate principal amount of notes in a private placement to an institutional investor, which we refer to in this prospectus as the “2035 Notes.” On March 3, 2022, we issued an additional $15 million in aggregate principal amount of the 2035 Notes in a private placement to the same institutional investor. The 2035 Notes are unsubordinated, unsecured indebtedness, mature on March 31, 2035, and bear interest at a rate of 6.50% per year, payable quarterly on March 31, June 30, September 30 and December 31 of each year. As of March 24, 2025, we had $30 million in aggregate principal amount of the 2035 Notes outstanding. The terms