Filed pursuant to Rule 497(a)
File No. 333-235356
Rule 482ad
Priority Income Fund is Now Available on the Schwab Alternative
Investment OneSource® Platform for Registered Investment
Advisers
NEW YORK, October 26, 2022 /BusinessWire/ -- Priority Income Fund,
Inc. ("Priority Income Fund" or the "Fund") announced today that
the Fund is now available to registered investment advisers on the
Schwab Alternative Investment OneSource®
platform.
The Schwab Alternative Investment OneSource®
platform provides access to a diversified portfolio of non-listed
alternative investments issued by well-known asset managers—all
with streamlined execution, consolidated reporting, and no annual
custody fees.
“We are pleased to have joined the Schwab Alternative Investment
OneSource platform,” said Grier Eliasek, President and Chief
Executive Officer of the Fund. “We are making Priority Income Fund
even more accessible to registered investment
advisers.”
The Fund, which has raised $1.0 billion in cumulative capital
(including commitments under the Fund’s credit facility), focuses
on providing investors with current income and long-term capital
appreciation by investing in broad pools of senior secured loans
made primarily to U.S. companies.
Through September 30, 2022, the Fund has declared 34 quarterly
bonus distributions in addition to 107 consecutive monthly base
distributions, resulting in a total annualized distribution rate
for I shares of 11.6%, based on a current class I offering price of
$11.55 per common share.
About Priority Income Fund
Priority 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. For more
information, visit
priorityincomefund.com.
About Prospect Capital Management L.P.
Prospect is an SEC-registered investment adviser that, along with
its predecessors and affiliates, has a more than 30-year history 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
approximately 100 professionals who focus on credit-oriented
investments yielding attractive current income. Prospect, together
with its affiliates, has $8.6 billion of assets under management as
of June 30, 2022. For more information, call 212.448.0702 or visit
prospectcapitalmanagement.com.
About Preferred Capital Securities, LLC
Preferred Capital Securities, LLC serves as the dealer manager for
Priority Income Fund, Inc. and has been a member of FINRA/SIPC
since 2015. Formed in 2013, PCS is a boutique investment banking
firm that distributes real estate and credit investment products in
private and public structures through broker dealers and registered
investment advisers. PCS has raised over $3.6 billion of capital as
a wholesale distributor for various alternative investment
strategies. For more information, visit
http://pcsalts.com.
For Sales:
salesdesk@pcsalts.com
(855) 330-6594
For Service:
investorservices@pcsalts.com
(855) 422-3223
Additional Information
Past performance is not indicative of future performance.
Our distributions may exceed our earnings, and therefore, portions
of the distributions that we make may be a return of the money that
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 basis in our shares, which may result
in higher taxes for you even if your shares are sold at a price
below your original investment.
Investors should consider the investment objective and policies,
risk considerations, charges and ongoing expenses of an investment
carefully before investing. The prospectus and summary prospectus
contains this and other information relevant to an investment in
the fund. Please read the prospectus or summary prospectus
carefully before you invest or send money. To obtain a prospectus,
please contact
your investment representative or Investor Services at
866.655.3650.
Schwab and the Schwab Alternative lnvestment
OneSource®
platform are trademarks of Charles Schwab & Co., Inc. and used
with permission. Priority Income Fund, Inc., Prospect Capital
Management, LP, and Preferred Capital Securities, LLC, are not
affiliated with Charles Schwab & Co., Inc.
Charles Schwab & Co., Inc. (member SIPC) receives remuneration
from fund companies in the Schwab Alternative Investment OneSource®
platform for recordkeeping and shareholder services, and other
administrative services.
Schwab does not provide investment advisors, or their clients,
advice or make recommendations about potential investments in any
funds on the Schwab Alternative Investment OneSource platform,
funds made available on third-party platforms that participate in
the Schwab Alternative Investment Marketplace platform, and funds
that may be held in custody. It is each investment advisor's
responsibility to determine the suitability of such an investment
for its clients. Alternative investments are risky and an advisor's
clients may lose their entire investment in a fund.
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,"
"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. may
or 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.
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