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Eagle Point Income to price $30 million $25-par term preferred stock
By Marisa Wong
Los Angeles, Oct. 18 – Eagle Point Income Co. Inc. plans to price $30 million of $25-par series A term preferred stock (Egan-Jones: BBB), according to a 424B1 filing with the Securities and Exchange Commission.
The company plans to grant the underwriters a 30-day option to purchase additional shares of preferred stock, according to a press release.
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.
The preferreds are expected to be listed on the New York Stock Exchange under the symbol “EICA.”
Proceeds will be used to acquire investments and for general working capital purposes, including making distributions to stockholders.
The externally managed non-diversified closed-end management investment company is based in Greenwich, Conn.
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