Company: PRIF-PJ
Filing Date: 2025-03-26
Form Type: N-2
Source: 0001554625-25-000027
Chunk: 4

Company: Priority Income Fund, Inc.
Filing Date: 2025-03-26
Form: N-2
Chunk 4
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 redeem the number of shares of our preferred stock (which at our discretion may include any number or portion of the Series M Term Preferred Stock) that, when combined with any debt securities redeemed for failure to maintain the asset coverage required by the indenture governing such securities, (1) results in us having asset coverage of at least 200%, or (2) if fewer, the maximum number of shares of preferred stock that can be redeemed out of funds legally available for such redemption. See “Description of the Series M Term Preferred Stock - Redemption - Mandatory Redemption for Asset Coverage.” We intend to pay quarterly dividends on the Series M Term Preferred Stock, when, as and if authorized by, or under authority granted by, our Board of Directors, and declared by us out of funds legally available therefor, at an annual rate of [___]% of the Liquidation Preference, or $[___] per share per year, for the shares of Series M Term Preferred Stock. Each holder of the Series M Term Preferred Stock is entitled to one vote on each matter submitted to a vote of our stockholders, and

the holders of all of our outstanding preferred stock and common stock generally vote together as a single class. The holders of shares of our outstanding preferred stock are entitled to elect two of our directors and, if dividends on any outstanding shares of our preferred stock are in arrears by two years or more, to elect a majority of our directors.

We have applied to list the Series M Term Preferred Stock on the New York Stock Exchange, or “NYSE,” under the ticker symbol “PRIF PRM.” If the application is approved, trading on the NYSE in the Series M Term Preferred Stock is expected to begin within 30 days following the issuance date of the Series M Term Preferred Stock. Our 7.000% Series D Term Preferred Stock due 2029, or the “Series D Term Preferred Stock,” are traded on the NYSE under the symbol “PRIF PRD.” On March 24, 2025, the last sale price of our Series D Term Preferred Stock as reported on the NYSE was $24.11 per share. Our 6.625% Series F Term Preferred Stock due 2027, or the “Series F Term Preferred Stock,” are traded on the NYSE under the symbol “PRIF PRF.” On March 24, 2025, the last sale price of our Series F Term Preferred Stock as reported on the NYSE was $24.56 per share. Our 6.