Company: PRIF-PJ
Filing Date: 2025-03-26
Form Type: N-2
Source: 0001554625-25-000027
Chunk: 160

Company: Priority Income Fund, Inc.
Filing Date: 2025-03-26
Form: N-2
Chunk 160
---
 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 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, $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 Asset Coverage per Unit is $23,283 for the Facility, $13,041 per unit for the 2035 Notes and $73 for the Preferred Stock.

Our asset coverage on a pro forma basis after giving effect to (a) the redemption of approximately $29.9 million of shares of Series H Term Preferred Stock on [April 9], 2025, as described under “Recent Events,” and (b) the assumed issuance of $[__] million of shares of Series M Term Preferred Stock in this offering, with respect to the Preferred Stock, our asset coverage would be [__]% with respect to the Preferred Stock, [__]% with respect to the 2035 Notes, and [__]% with respect to the Facility, or [__], [__] and [__] on a per unit basis, respectively.

Optional Redemption. After [___], 2025 (any such date, an Optional Redemption Date), we may redeem in whole or from time to time in part outstanding Series M Term Preferred Stock, at a redemption price equal to the Liquidation Preference, plus an amount equal to all unpaid dividends and distributions accumulated to (but excluding) the Optional Redemption Date (whether or not earned or declared by us, but excluding interest thereon), or the “Optional Redemption Price”.

Subject to the provisions of the Articles Supplementary and applicable law, our Board of Directors will have the full power and authority to prescribe the terms and conditions upon which shares of Preferred Stock will be redeemed from time to time.

We may not on any date deliver a