Priority Income Fund Completes Record Common Equity Fundraising of $52.4 Million in September Quarter

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NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) — Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that the Fund, through its broker-manager Preferred Capital Securities, raised $52.4 million in common stock during the September 2022 quarter, which was the highest quarterly total in the Fund’s history. Since inception, the Fund has raised $1.0 billion in cumulative capital (including commitments under the Fund’s credit facility).

The Fund aims to provide investors with current income and long-term capital appreciation by investing in large pools of senior secured, floating rate loans issued primarily to US corporations.

Through September 30, 2022, the Fund declared 34 quarterly premium distributions in addition to 107 consecutive monthly basic distributions, resulting in a total annualized distribution rate for R shares of 10.5%, based on price current Class R offer price of $12.79 per common share. .

About the Priority Income Fund
Priority Income Fund, Inc. is a registered closed-end fund that was established to acquire and grow an investment portfolio consisting primarily of senior secured loans or pools of senior secured loans known as bonds guaranteed loans (“CLO”). These loans will generally have a variable interest rate and will include a first lien on the assets of the respective borrowers, which are generally 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 LP For more information visit priorityincomefunds.com.

About Prospect Capital Management LP
Prospect is an SEC-registered investment adviser who, along with its predecessors and affiliates, has more than 30 years of experience investing and managing high-yielding debt and equity securities 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-driven investing that generates attractive current income. Prospect, together with its affiliates, had $8.6 billion in 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 is the broker manager of Priority Income Fund, Inc. and has been a member of FINRA/SIPC since 2015. Established in 2013, PCS is a boutique investment bank that distributes real estate investment and credit products in private. and public structures through broker-dealers and registered investment advisers. PCS has raised over $3.6 billion in capital as a wholesale distributor for various alternative investment strategies. For more information, visit http://pcsalts.com.

For sale:
[email protected]
(855) 330-6594

For the service:
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(855) 422-3223

Further information
Past performance is not indicative of future performance. Our distributions may exceed our profits and therefore parts 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 on 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 ongoing expenses of an investment before investing. The prospectus and the simplified prospectus contain this information as well as other information relevant to an investment in the fund. Please read the prospectus or simplified prospectus carefully before investing or sending money. To obtain a brochure, 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 “projects,” 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 unknown future events and conditions, including matters of the future which are or are not within the control of Priority Income Fund, Inc. and which Priority Income Fund, Inc. may or may not have contemplated; accordingly, such statements cannot constitute guarantees or assurances as to any aspect of future performance. Actual developments and results are very likely to differ materially from any forward-looking statements. Such statements do not speak only as of the time they are 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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