Eagle Point Income Company Inc. Prices Initial Public Offering
July 23 2019 - 6:49PM
Business Wire
Eagle Point Income Company Inc. (NYSE:EIC) (the “Company”) today
announced the pricing of its initial public offering of 1,200,000
shares of common stock at a public offering price of $19.89 per
share, which will result in net proceeds to the Company of
approximately $23.1 million after payment of certain organizational
expenses and offering expenses. In addition, the Company has
granted the underwriters a 30-day option to purchase up to an
additional 180,000 shares of common stock to cover over-allotments,
if any. Eagle Point Income Management LLC, the Company’s investment
adviser, or its affiliates will pay the full amount of the sales
load in connection with this initial public offering and all of the
Company’s organizational expenses and offering expenses incurred
prior to or in connection with the initial public offering that
exceed $750,000 (excluding the sales load).
The Company intends to use the proceeds from the offering of its
common stock to acquire investments in accordance with its
investment objectives and strategies and for general working
capital purposes.
Shares of the Company’s common stock are expected to begin
trading on July 24, 2019 on the New York Stock Exchange under the
symbol “EIC” and the offering is expected to close on July 26,
2019, subject to customary closing conditions.
National Securities Corporation, a wholly owned subsidiary of
National Holdings Corporation (NASDAQ: NHLD), and B. Riley FBR,
Inc. are serving as joint book-running managers for the offering.
Wedbush Securities Inc. and Maxim Group LLC are serving as
co-managers for the offering.
Investors should consider the Company’s investment
objectives, risks, charges and expenses carefully before investing.
The preliminary prospectus, which has been filed with the
Securities and Exchange Commission (“SEC”), contains this and other
information about the Company and should be read carefully before
investing. The information in the preliminary prospectus and
this press release is not complete and may be changed. The
preliminary prospectus and this press release are not offers to
sell these securities and are not soliciting an offer to buy these
securities in any state where such offer or sale is not
permitted.
A registration statement relating to these securities is on file
with and has been declared effective by the SEC. Copies of the
preliminary prospectus (and the final prospectus, when available)
may be obtained by writing National Securities Corporation, Attn:
Marguerite O’Brien, 200 Vesey Street, 25th Floor, New York, NY
10281 by calling collect (212) 417-8827 or by sending an e-mail to:
prospectusrequest@nationalsecurities.com; by writing B. Riley FBR,
Inc., Attn: Prospectus Department, 1300 17th Street North, Suite
1300, Arlington, VA 22209; by calling toll-free (800) 846-5050 or
by sending an e-mail to: prospectuses@brileyfbr.com; copies may
also be obtained by visiting EDGAR on the SEC’s website, at
www.sec.gov.
ABOUT THE COMPANY
The Company is an externally managed, non-diversified closed-end
management investment company. The Company’s investment objective
is to generate high current income, with a secondary objective to
generate capital appreciation, by investing primarily in junior
debt tranches of collateralized loan obligations. The Company is
externally managed and advised by Eagle Point Income Management
LLC. The Company’s public filings are available free of charge by
writing to the Company at Eagle Point Income Company Inc., 600
Steamboat Road, Suite 202, Greenwich, CT 06830, Attention: Investor
Relations, by telephone at (844) 810-6501.
ABOUT EAGLE POINT INCOME MANAGEMENT LLC
Eagle Point Income Management LLC is the Company’s external
adviser and an affiliate of Eagle Point Credit Management LLC,
which is the external investment adviser to Eagle Point Credit
Company Inc. (NYSE:ECC). The senior investment team of Eagle Point
Income Management LLC is comprised of Thomas P. Majewski, Daniel W.
Ko and Daniel M. Spinner.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described in the
prospectus and the Company’s other filings with the SEC. The
Company undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
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Investor Relations: ICR 203-340-8510 ir@EaglePointIncome.com
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