Priority Income Fund Announces Redemption of its 6.250% Series G Term Preferred Stock Due 2026

GlobeNewswire11-23

NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that it will redeem all outstanding shares of its 6.250% Series G Term ...

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(“Priority Income Fund” or the “Fund”) announced today that it will redeem all outstanding shares of its 6.250% Series G Term ...</p>\n\n<a href=\"https://finance.yahoo.com/news/priority-income-fund-announces-redemption-221700780.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Priority Income Fund Announces Redemption of its 6.250% Series G Term Preferred Stock Due 2026</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPriority Income Fund Announces Redemption of its 6.250% Series G Term Preferred Stock Due 2026\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-23 06:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/priority-income-fund-announces-redemption-221700780.html><strong>GlobeNewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that it will redeem all outstanding shares of its 6.250% Series G Term ...</p>\n\n<a href=\"https://finance.yahoo.com/news/priority-income-fund-announces-redemption-221700780.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PRIF","symbol_name":"Priority Income Fund Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/priority-income-fund-announces-redemption-221700780.html","article_id":"2485248827","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/bIUyJwGzJX.i1c_q7MXETw--~B/aD02MTt3PTQ5MzthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/globenewswire.com/9ac8ec3b607e3483dba41127a0163198"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485248827","pubTimestamp":1732313820,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"NEW YORK, Nov. 22, 2024  -- Priority Income Fund, Inc.  announced today that it will redeem all outstanding shares of its 6.250% Series G Term Preferred Stock Due 2026   at a price of $25 per Series G Preferred Share, plus accrued but unpaid dividends per Series G Preferred Share from September 30, 2024, to but excluding, the Redemption Date . The redemption date will be December 23, 2024 .On the Redemption Date, the Redemption Price will become due and payable on the Series G Preferred Shares and any dividends shall cease to accumulate on the Series G Preferred Shares that are redeemed from and after such date. Unless the Fund defaults in the payment of the Redemption Price, dividends on the Series G Preferred Shares that are redeemed will cease to accumulate on and after the Redemption Date, and the only remaining right of the holders of the Series G Preferred Shares that are redeemed is to receive payment of the Redemption Price.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PRIF":"Priority Income Fund Inc.","PSEC":"普罗斯佩克特资本","GRO":"Brazil Potash Corp.","BK4135":"资产管理与托管银行"},"translate_title":"优先收入基金宣布赎回2026年到期的6.250%G系列定期优先股","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GRO":1,"PSEC":1,"PRIF":0.9},"content_text":"NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that it will redeem all outstanding shares of its 6.250% Series G Term Preferred Stock Due 2026 (CUSIP: 74274W 814; NYSE: PRIF PRG) (the “Series G Preferred Shares”) at a price of $25 per Series G Preferred Share, plus accrued but unpaid dividends per Series G Preferred Share from September 30, 2024, to but excluding, the Redemption Date (the “Redemption Price”). The redemption date will be December 23, 2024 (the “Redemption Date”).\nOn the Redemption Date, the Redemption Price will become due and payable on the Series G Preferred Shares and any dividends shall cease to accumulate on the Series G Preferred Shares that are redeemed from and after such date. Unless the Fund defaults in the payment of the Redemption Price, dividends on the Series G Preferred Shares that are redeemed will cease to accumulate on and after the Redemption Date, and the only remaining right of the holders of the Series G Preferred Shares that are redeemed is to receive payment of the Redemption Price.\nThe Series G Preferred Shares are held through The Depository Trust Company and will be redeemed in accordance with the applicable procedures.\nThis press release does not constitute a notice of redemption under the articles supplementary governing the shares.\nFollowing redemption of the Series G Preferred Shares, the Fund will have outstanding shares of 7.00% Series D Term Preferred Stock due 2029 (NYSE: PRIF PRD), 6.625% Series F Term Preferred Stock due 2027 (NYSE: PRIF PRF), 6.000% Series H Term Preferred Stock due 2026 (NYSE: PRIF PRH), 6.125% Series I Term Preferred Stock due 2028 (NYSE: PRIF PRI), 6.000% Series J Term Preferred Stock due 2028 (NYSE: PRIF PRJ), 7.000% Series K Cumulative Preferred Stock (NYSE: PRIF PRK), and 6.375% Series L Term Preferred Stock due 2029 (NYSE: PRIF PRL).\nAbout Priority Income FundPriority Income Fund, Inc. is a registered closed-end fund that was created to acquire and grow an investment portfolio primarily consisting of senior secured loans or pools of senior secured loans known as collateralized loan obligations (\"CLOs\"). Such loans will generally have a floating interest rate and include a first lien on the assets of the respective borrowers, which typically are private and public companies based in the United States. The Fund is managed by Priority Senior Secured Income Management, LLC, which is led by a team of investment professionals from the investment and operations team of Prospect Capital Management L.P. (“Prospect”). For more information, visit https://www.priorityincomefund.com.\nAbout Prospect Capital Management L.P. Prospect is an SEC-registered investment adviser headquartered in New York City that, along with its predecessors and affiliates, has 37-years of investing in and managing high-yielding debt and equity investments using both private partnerships and publicly traded closed-end structures. Prospect and its affiliates employ a team of over 150 professionals who focus on credit-oriented investments yielding attractive current income. Prospect, together with its affiliates, has $8.7 billion of assets under management as of September 30, 2024. Prospect is the investment adviser to Prospect Capital Corporation (NASDAQ: PSEC). \nAdditional Information\nForward-Looking StatementsThis 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,\" \"projects,\" and “future\" or similar expressions are intended to identify forward-looking statements. Any such statements, other than statements of historical fact, are highly likely to be affected by unknowable future events and conditions, including elements of the future that are or are not under the control of Priority Income Fund, Inc. and that Priority Income Fund, Inc. mayor may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Priority Income Fund, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485248827"}