GREENWICH, Conn., March 27, 2024--(BUSINESS WIRE)--Eagle Point Income Company Inc. (the "Company") (NYSE: EIC, EICA, EICB) today announced that it has priced an underwritten public offering of 1,220,000 shares of its 8.00% Series C Term Preferred Stock due 2029 (the "Preferred Stock") at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $29.3 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Preferred Stock is rated ‘BBB’ by Egan-Jones Ratings Company, an independent rating agency. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 183,000 shares of Preferred Stock on the same terms and conditions.

The Preferred Stock offering is expected to close on April 3, 2024, subject to customary closing conditions. The Company intends to list the Preferred Stock on the New York Stock Exchange within 30 days of the original issue date under the symbol "EICC."

Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and Piper Sandler & Co. are acting as joint bookrunners for the offering. InspereX LLC and Wedbush Securities Inc. are acting as lead managers for the offering.

Investors should consider the Company’s investment objectives, risks, charges, and expenses carefully before investing. The preliminary prospectus supplement dated March 26, 2024 and the accompanying prospectus dated June 29, 2023, which have been filed with the Securities and Exchange Commission ("SEC"), contain this and other information about the Company and should be read carefully before investing. The information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The preliminary prospectus supplement, the accompanying 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 shelf registration statement relating to these securities is on file with and has been declared effective by the SEC. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by writing Ladenburg Thalmann & Co. Inc. at 640 Fifth Avenue, 4th Floor, New York, New York 10019, by calling toll-free 1-800-573-2541 or by sending an e-mail to: [email protected]; copies may also be obtained for free by visiting EDGAR on the SEC’s website at https://www.sec.gov.