Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
24 August 2021 - 1:53PM
Edgar (US Regulatory)
Filed pursuant to Rule 424(b)(3)
1933 Act File No. 333-237583
PROSPECTUS SUPPLEMENT dated August 24, 2021
(to Prospectus dated May 29, 2020, as supplemented from time to time)
EAGLE POINT INCOME COMPANY INC.
$7,500,000 of Common Stock
This prospectus supplement
supplements the prospectus supplement dated June 1, 2020, or the “June Supplement,” and the accompanying prospectus thereto
dated May 29, 2020, or the “Base Prospectus.” The Base Prospectus and June Supplement, and all supplements to or documents
incorporated by reference into the Base Prospectus and June Supplement, are collectively referred to as the “Prospectus.”
The Prospectus relates to the offering of $7,500,000 aggregate amount of common stock, par value $0.001 per share, or the “common
stock,” pursuant to an at market issuance sales agreement, dated November 22, 2019, and amended June 1, 2020, with B. Riley Securities,
Inc. (formerly known as B. Riley FBR, Inc.) and National Securities Corporation. This prospectus supplement provides certain updated financial
information for the Company as of June 30, 2021.
Investing
in our securities involves a high degree of risk, including the risk of a substantial loss of investment. Before purchasing any shares
of our common stock, you should read the discussion of the principal risks of investing in our securities, which are summarized in “Risk
Factors” beginning on page S-17 of the June Supplement and page 17 of the Base Prospectus.
The terms “we,”
“us” and “our” refer to Eagle Point Income Company Inc., a Delaware corporation.
RECENT DEVELOPMENTS
Net Asset Value
Management’s unaudited
estimate of the range of the net asset value per share of our common stock as of July 31, 2021 was between $17.44 and $17.48.
Distributions
On July 30, 2021, we paid
a monthly distribution of $0.09 per share on shares of our common stock to holders of record as of July 12, 2021. As previously announced,
the Company declared distributions of $0.09 per share on shares of our common stock payable on each of August 31, 2021 and September 30,
2021 to holders of record as of August 11, 2021 and September 10, 2021, respectively; and distributions of $0.12 per share on shares of
our common stock payable on October 29, 2021, November 30, 2021 and December 31, 2021 to holders of record as of October 12, 2021, November
10, 2021 and December 13, 2021, respectively.
Investment Strategy; Leverage
On August 10, 2021, our board
of directors approved an increase in the percentage of our total assets which may be invested in collateralized loan obligation (“CLO”)
equity securities. Effective immediately, we may invest up to 35% of total assets (at the time of investment) in unrated CLO equity securities.
In addition, over the long term, management expects us to operate under normal market conditions generally with leverage within a range
of 25% to 35% of total assets through borrowings under our credit facility or through the issuance of preferred stock or debt securities,
although the actual amount of our leverage is uncertain from time to time.
Registration Statement
On August 23, 2021, we filed
an initial registration statement on Form N-2 with the U.S. Securities and Exchange Commission (“SEC”) relating to our preferred
stock. The SEC has not declared the registration statement effective and the securities subject to that registration statement may not
be sold, nor may offers to buy the securities be accepted, prior to the time the registration statement becomes effective.
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