Eagle Point greenshoe exercised, lifts 5% preferreds to $35 million

By William Gullotti

Buffalo, N.Y., Oct. 28 – Underwriters for Eagle Point Income Co. Inc.’s offering of 5% series A term preferred stock (Egan-Jones: BBB) exercised their over-allotment option in full for $4.5 million more of the preferreds due 2026, increasing the size of the issue to $35 million, according to a news release Thursday.

The company sold an aggregate total of 1.4 million shares, including the 180,000 shares of the fully-exercised over-allotment option, at a purchase price of $25 per share.

Ladenburg Thalmann & Co. Inc. is the lead bookrunner for the registered offering. B. Riley Securities, Inc., Oppenheimer & Co. Inc., InspereX LLC and Wedbush Securities Inc. acted as joint bookrunners

The preferred stock trades under the symbol “EICA.”

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

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