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September 23, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Greenwich-based Eagle Point Income Co. prices IPO

Eagle Point Income Co. Inc., a Greenwich-based closed-end investment firm, has announced the pricing of its initial public offering (IPO) of 1.2 million shares of common stock at a public offering price of $19.89 per share.

The company stated the IPO is expected to generate net proceeds of approximately $23.1 million after the payment of organizational expenses and offering expenses. The company has also provided the underwriters with a 30-day option to buy up to an additional 180,000 shares of common stock to cover potential overallotments.

Shares of Eagle Point Income’s common stock is scheduled to begin trading today on the New York Stock Exchange under the symbol “EIC” and the IPO is expected to close on July 26. National Securities Corp. and B. Riley FBR Inc. are serving as joint book-running managers for the IPO while Wedbush Securities Inc. and Maxim Group LLC are serving as co-managers for the offering.