Company: PRIF-PJ
Filing Date: 2025-03-26
Form Type: N-2
Source: 0001554625-25-000027
Chunk: 10

Company: Priority Income Fund, Inc.
Filing Date: 2025-03-26
Form: N-2
Chunk 10
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 $7.2 billion as of December 31, 2024. Our Adviser’s professionals also manage Prospect Floating Rate and Alternative Income Fund, Inc., or “PFLOAT,” which has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. As of December 31, 2024, PFLOAT had total assets of approximately $102.9 million.

Our Adviser’s investment professionals have significant experience and an extensive track record of investing in companies, managing high-yielding debt and equity investments, and managing and investing in CLOs, including the equity and junior debt tranches of CLOs, and Target Securities. Such parties also have extensive knowledge of the managerial,

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operational and regulatory requirements of publicly registered investment companies. Our Adviser does not currently have employees, but has access to certain investment, finance, accounting, legal and administrative personnel of Prospect Capital Management and Prospect Administration and may retain additional personnel as our activities expand. In particular, certain personnel of Prospect Capital Management will be made available to our Adviser to assist it in managing our portfolio and operations, provided that they are supervised at all times by our Adviser’s management team. See “Investment Objective and Strategy—About Our Adviser.” We believe that this depth of experience and disciplined investment approach will help our Adviser to successfully execute our investment strategy. See “Management” and “Portfolio Management” for biographical information regarding our Adviser’s professionals.

All investment decisions will be made by our Adviser’s professionals. Our Board of Directors, including a majority of independent directors, will oversee and monitor our investment performance and relationship with our Adviser. See “Investment Advisory Agreement.”

#### Risk Factors
An investment in our Series M Term Preferred Stock involves a high degree of risk and may be considered speculative. You should carefully consider the information found in “Risk Factors” before deciding to invest in our Series M Term Preferred Stock. The following are some of the risks an investment in us involves:

Risks Related to Our Business and Structure

• Our Board of Directors may change our investment objective by providing our stockholders with 60 days prior notice, or may modify or waive our current operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse.

• The SEC staff could modify its position on certain non-traditional investments, including investments in CLOs.

• Price declines in the markets for Target Securities, especially equity and junior tr