Eagle Point Income offers series C term preferred stock due 2029

By Wendy Van Sickle

Columbus, Ohio, March 26 – Eagle Point Income Co. Inc. is offering series C term preferred stock due 2029 (Egan-Jones: BBB), according to a 424B2 filing with the Securities and Exchange Commission.

The deal will include a 30-day greenshoe.

The preferred stock will have a $25.00 liquidation preference.

Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and Piper Sandler Co. are the joint bookrunners with InspereX LLC and Wedbush Securities Inc. as lead managers.

Eagle Point intends to list the preferreds on the New York Stock Exchange under the ticker symbol “EICC.”

Dechert LLP is advising the issuer. Duane Morris LLP is advising the underwriters.

Proceeds will be used to acquire investments and for general working capital purposes, including making distributions to stockholders and/or repaying outstanding debt.

The externally managed non-diversified closed-end management investment company is based in Greenwich, Conn.

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