Form 424B3 - Prospectus [Rule 424(b)(3)]
24 Julio 2023 - 7:08AM
Edgar (US Regulatory)
Filed pursuant to Rule 424(b)(3)
1933 Act File No. 333-272168
PROSPECTUS SUPPLEMENT dated July 24, 2023
(to Prospectus dated June 29, 2023, as supplemented from time to time)
EAGLE POINT INCOME COMPANY INC.
$75,000,000 of Common Stock
Up to 1,000,000 Shares of 5.00%
Series A Term Preferred Stock due 2026
Liquidation Preference $25 per
share
This prospectus supplement
supplements the prospectus supplement dated June 30, 2023, or the “June Supplement,” and the accompanying prospectus thereto
dated June 29, 2023, or the “Base Prospectus.” The Base Prospectus and June Supplement, and all supplements to or documents
incorporated by reference into the Base Prospectus and June Supplement, are collectively referred to as the “Prospectus.”
The Prospectus relates to the offering of $75,000,000 aggregate amount of common stock, par value $0.001 per share, or the “common
stock,” and up to 1,000,000 shares of 5.00% Series A Term Preferred Stock due 2026, or the “Series A Term Preferred Stock,”
with an aggregate liquidation preference of $25,000,000, pursuant to the Second Amended and Restated At Market Issuance Sales Agreement,
dated June 29, 2023, with B. Riley Securities, Inc.
Investing in our securities
involves a high degree of risk, including the risk of a substantial loss of investment. Before purchasing any shares of our common stock
or Series A Term Preferred Stock, you should read the discussion of the principal risks of investing in our securities, which are summarized
in “Risk Factors” beginning on page S-11 of the June Supplement and page 13 of the Base Prospectus, as well as in other
documents incorporated by reference into the Prospectus.
The terms “we,”
“us” and “our” refer to Eagle Point Income Company Inc., a Delaware corporation, and its consolidated subsidiaries.
RECENT DEVELOPMENTS
On July 20, 2023, we priced
an underwritten public offering of 1,130,500 shares of our 7.75% Series B Term Preferred Stock due 2028, or the “Series B Term Preferred
Stock,” at a public offering price of $25 per share, which will result in net proceeds to us of approximately $27.1 million after
payment of underwriting discounts and commissions and estimated offering expenses payable by us. The Series B Term Preferred Stock is
rated ‘BBB’ by Egan-Jones Ratings Company, an independent rating agency.
This offering is expected
to close on July 26, 2023, subject to customary closing conditions. In addition, we have granted the underwriters a 30-day option to purchase
up to an additional 169,575 shares of Series B Term Preferred Stock to cover overallotments, if any. The Series B Term Preferred Stock
is expected to be listed on the New York Stock Exchange and to trade thereon within 30 days of the original issue date under the symbol
“EICB.”
Eagle Point Income (NYSE:EIC)
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Eagle Point Income (NYSE:EIC)
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