NEW YORK, November 03, 2021 (GLOBE NEWSWIRE) – Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) is pleased to announce the declaration of distributions on Series D through 7 shares, 00% of the Fund. Preferred shares maturing in 2029 (“Series D”), 6.625% Forward preferred shares of series F due in 2027 (“Series F”), 6.250% Preferred shares term of series G due in 2026 (“Series G”), 6.000% Term Preferred Shares Series H due 2026 (“Series H”), 6.125% Term Preferred Shares Series I due 2028 (“Series I”), 6.000% Term Preferred Shares Series J maturing in 2028 (“Series J”) and 7,000% cumulative Series K preferred shares (“Series K”).
About Priority Income Fund Priority Income Fund, Inc., is a registered closed-end fund that was established to acquire and develop an investment portfolio consisting primarily of senior secured loans or pools of senior secured loans known as Secured Loan Bonds (“CLOs”). These loans will generally have a variable interest rate and will include a first lien on the assets of the respective borrowers, which are usually private and public companies based in the United States. The fund is managed by Priority Senior Secured Income Management, LLC, 50% owned by Prospect Capital Management LP.
About Prospect Capital Management LP Based in New York, Prospect is an SEC registered investment advisor who, along with his predecessors and affiliates, has over 30 years of experience in investing and managing securities. debt and high yield equities using both private partnerships and publicly traded closed structures. Prospect and its affiliates employ a team of approximately 100 professionals who focus on credit-oriented investments that generate attractive current income. Prospect and its affiliates had $ 7.1 billion in assets under management as of June 30, 2021. For more information, call 212.448.0702 or visit prospectcapitalmanagement.com.
About Preferred Capital Securities, LLC Preferred Capital Securities, LLC is the broker-manager of Priority Income Fund, Inc. and has been a member of FINRA / SIPC since 2015. Formed in 2013, PCS is an investment bank specializing in distribution of real estate. and credit investment products in private and public structures through registered brokers and investment advisers. The PCS team has raised over $ 2.3 billion in capital as a wholesale distributor for various alternative investment strategies. For more information, visit pcsalts.com
Additional information Past performance is no guarantee of future performance. Our distributions may exceed our earnings and, therefore, part of the distributions we make may be a return of the money you originally invested and represent a return of capital to you for tax purposes. Such a return of capital is not immediately taxable, but reduces your tax base in our shares, which may result in higher taxes for you even if your shares are sold at a lower price than your original investment.
Investors should carefully consider the investment objective and policies, risk considerations, fees and current expenses of an investment before investing. The prospectus and the simplified prospectus contain this information as well as other information relating to an investment in the fund. Please read the prospectus or summary prospectus carefully before investing or sending money. To obtain a prospectus, please contact your Investment Representative or Investor Services at 866.655.3650.
Forward-looking statements This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the future performance of Priority Income Fund, Inc. Words such as “believes”, “expects” ”,“ Plans ”and“ future ”or similar expressions are intended to identify forward-looking statements. Such statements, other than statements of historical fact, are very likely to be affected by unknowable future events and conditions, including matters in the future which are or are not under the control of Priority Income Fund, Inc. and what Priority Income Fund, Inc. may or may not have considered; therefore, these statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are very likely to differ materially from forward-looking statements. Such statements speak only as they are made, and Priority Income Fund, Inc. assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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