Eagle Point Income Company Launches 6% Convertible Perpetual Preferred Stock Offering

Eagle Point Income Company Inc. (NYSE: EIC) has commenced a continuous public offering of up to 4 million shares of its newly designated 6% Series AA Convertible Perpetual Preferred Stock and Series AB Convertible Perpetual Preferred Stock, priced at $25 per share. The company expects to generate approximately $91 million in net proceeds, assuming all shares are sold.

The preferred stock carries a fixed 6% annual dividend rate, with distributions paid monthly. The offering has received an investment-grade BBB rating from Egan-Jones Ratings Company, a Nationally Recognized Statistical Rating Organization.

“We believe the preferred stock offers investors principal stability, regular fixed dividends and attractive liquidity terms in a volatile market. The offering is expected to provide the company with accretive capital to deploy on an ongoing basis,” said Thomas Majewski, chairman and chief executive officer.

As a perpetual security, the preferred stock has no fixed maturity date. However, holders retain the right to convert their shares into EIC common stock or cash – a choice left to the company’s sole discretion – subject to specific conversion conditions.

Eagle Point Securities LLC, an affiliate of the company’s investment adviser and a member of FINRA and SIPC, is serving as dealer manager for the offering.

EIC is a diversified, closed-end management investment company primarily focused on generating high current income by investing in junior debt tranches of collateralized loan obligations and CLO equity securities (up to 35% of total assets).

The company is externally managed by Eagle Point Income Management LLC.

This offering is being conducted under a shelf registration statement previously declared effective by the Securities and Exchange Commission.

The company, headquartered in Greenwich, Conn., is externally managed by Eagle Point Income Management LLC and advised by Eagle Point Credit Management LLC. Collectively with affiliates, Eagle Point Credit Management had approximately $13 billion in assets under management as of June 30, 2025, including undrawn capital commitments.

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