Company: PRIF-PJ
Filing Date: 2025-02-28
Form Type: N-CSRS
Source: 0001554625-25-000010
Chunk: 54

Company: Priority Income Fund, Inc.
Filing Date: 2025-02-28
Form: N-CSRS
Chunk 54
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 of the carrying value since the Facility bears a floating rate and re-prices to market frequently.

#### 2025 SEMI-ANNUAL REPORT
PRIORITY INCOME FUND, INC. 46

In connection with the origination of the Facility, we incurred $813,433 of fees, all of which are being amortized over the term of the facility on an effective yield basis. As of December 31, 2024, $516,594 remains to be amortized and is reflected as Deferred financing costs on the Statements of Assets and Liabilities .

During the six months ended December 31, 2024, we recorded $1,219,087 of interest costs and amortization of financing costs on the Facility as interest expense and credit facility expense.

For the six months ended December 31, 2024, the average stated interest rate (i.e., rate in effect plus the spread) was 8.24%. For the six months ended December 31, 2024, average outstanding borrowings for the Facility were $25,164,130.

Note 12. Notes Payable

On January 27, 2020, we issued $15,000,000 principal amount of senior unsecured notes that mature on March 31, 2035 (the “ 2035 Notes”). On March 2, 2022, we completed a further issuance of $15,000,000 of the 2035 Notes in a private placement to the same institutional investor. As of December 31, 2024, $ 30,000,000in aggregate principal amount of the 2035 Notes remained outstanding. The 2035 Notes 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. Total proceeds from the issuance of the 2035 Notes, net of underwriting discounts and issuance costs, were $28,777,401. As of December 31, 2024, the fair value of the 2035 Notes is $29,217,559, estimated by discounting remaining payments using applicable current market rates, and is categorized as Level 2 under ASC 820 as of December 31, 2024. As of December 31, 2024, $242,469 of debt issuance costs and $782,441 of underwriting discounts that remains to be amortized and are included as a reduction within Notes payable on the