Priority Income Fund Reopens Tender Offer as NAV Holds at Multiyear Low
Priority Income Fund Inc. has opened its latest round of quarterly share repurchases, offering to buy back up to 1,621,557 shares of its common stock at a net asset value near a multiyear low.
The offer covers about 2.5% of the shares outstanding as of the end of the fund’s last fiscal year, the maximum amount permitted under the nontraded closed-end fund’s repurchase program. Priority Income had roughly 63.7 million shares of Class R, Class RIA, and Class I common stock outstanding as of Sept. 18.
The purchase price will be based on net asset value per share as of Oct. 31, 2026. NAV stood at $3.15 per share as of July 31, 2026, down from $10.85 in June 2024, a decline of about 71%. AltsWire has reported that the decline reflects elevated defaults and losses within the fund’s portfolio of collateralized loan obligation equity and junior debt tranches.
The offer expires at 4 p.m. ET on Oct. 30 unless extended, with payment to follow promptly after expiration. If tenders exceed the 1,621,557-share maximum, Priority Income will repurchase shares on a pro rata basis, with priority given to holders of fewer than 100 shares who tender their entire position.
The new offer follows a repurchase completed this summer in which stockholders tendered more than 10 million shares against the fund’s 1,550,812-share cap, producing a proration rate of 15.23%, the lowest in at least two years.
Priority Income has said it expects to list on the New York Stock Exchange before Dec. 31. In December 2025, the company said trading levels for comparable listed funds relative to NAV did not yet justify moving forward with the listing, and it has not issued a public update on the timeline since. The fund’s Series J Term Preferred Stock was delisted from the NYSE in April 2026.
As with its prior buybacks, the fund said the offer is intended to provide stockholders with liquidity because the shares do not trade publicly.
Priority Income invests primarily in CLO equity and junior debt tranches. The fund was founded in 2013 and held $597 million in assets as of June 30, 2025.
Visit the AltsWire directory page.
