Eagle Point Income Company Inc. Prices Offering of Preferred Stock
19 Oktober 2021 - 1:29AM
Business Wire
Eagle Point Income Company Inc. (the “Company”) (NYSE:EIC) today
announced that it has priced an underwritten public offering of
1,220,000 shares of its 5.00% Series A Term Preferred Stock due
2026 (the “Preferred Stock”) at a public offering price of $25 per
share, which will result in net proceeds to the Company of
approximately $29.3 million after payment of underwriting discounts
and commissions and estimated offering expenses payable by the
Company. The Preferred Stock is rated ‘BBB’ by Egan-Jones Ratings
Company. In addition, the Company has granted the underwriters a
30-day option to purchase up to an additional 180,000 shares of
Preferred Stock.
The offering is expected to close on October 22, 2021, subject
to customary closing conditions. The Company intends to list the
Preferred Stock on the New York Stock Exchange under the symbol
“EICA.”
Ladenburg Thalmann & Co. Inc. is acting as the lead
bookrunner for the offering. B. Riley Securities, Inc., Oppenheimer
& Co. Inc., InspereX LLC, and Wedbush Securities Inc. are
acting as joint bookrunners for the offering.
Investors should consider the Company’s investment
objectives, risks, charges and expenses carefully before investing.
The preliminary prospectus dated October 18, 2021, which has been
filed with the Securities and Exchange Commission (“SEC”), contains
this and other information about the Company and should be read
carefully before investing. The information in the preliminary
prospectus and this press release is not complete and may be
changed. The preliminary prospectus and this press release are not
offers to sell these securities and are not soliciting an offer to
buy these securities in any state where such offer or sale is not
permitted.
A registration statement relating to these securities is on file
with and has been declared effective by the SEC. The offering
may be made only by means of a prospectus, copies of which may be
obtained by writing Ladenburg Thalmann & Co. Inc. at 640 Fifth
Avenue, 4th Floor, New York, New York 10019, by calling toll-free
1-800-573-2541 or by sending an e-mail to:
prospectus@ladenburg.com; copies may also be obtained for free by
visiting EDGAR on the SEC’s website at http://www.sec.gov.
Egan-Jones Ratings Company is a nationally recognized
statistical rating organization (NRSRO). A security rating is not a
recommendation to buy, sell or hold securities, and any such rating
may be subject to revision or withdrawal at any time by the
applicable rating agency.
ABOUT EAGLE POINT INCOME COMPANY
The Company is a non-diversified, closed-end management
investment company. The Company’s primary investment objective is
to generate high current income, with a secondary objective to
generate capital appreciation, by investing primarily in junior
debt tranches of collateralized loan obligations (“CLOs”). In
addition, the Company may invest up to 35% of its total assets (at
the time of investment) in CLO equity securities. The Company is
externally managed and advised by Eagle Point Income Management
LLC.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described in the
prospectus and the Company’s other filings with the SEC. The
Company undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20211018006032/en/
Investor Relations: ICR 203-340-8510 ir@EaglePointIncome.com
www.eaglepointincome.com
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