Eagle Point Stock Price, News & Analysis

EICB is the New York Stock Exchange trading symbol for the 7.75% Series B Term Preferred Stock due 2028 of Eagle Point Income Company Inc. According to SEC filings and NYSE listing data, this preferred security is associated with Eagle Point Income Company Inc., which is organized in Delaware and has its principal executive offices in Greenwich, Connecticut. The company is classified in the Finance and Insurance sector and is related to the Securities and Commodity Exchanges industry category provided in the reference data.

Regulatory disclosures show that Eagle Point Income Company Inc. has multiple classes of securities registered under Section 12(b) of the Securities Exchange Act of 1934. These include its common stock (trading under the symbol EIC) and several series of term preferred stock, among them the 7.75% Series B Term Preferred Stock due 2028 that trades under the symbol EICB. The preferred stock was offered to the public through an underwritten offering, and a Business Wire announcement described the issuance of additional shares of this series following the full exercise of the underwriters’ option.

The company has used shelf registration statements declared effective by the SEC for offerings of its securities, including the Series B Term Preferred Stock. The preferred stock has been rated “BBB” by Egan-Jones Ratings Company, which is identified in the news release as a nationally recognized statistical rating organization (NRSRO). The rating, as noted in the release, is not a recommendation to buy, sell or hold the securities and may be revised or withdrawn by the rating agency.

Form 8-K filings for Eagle Point Income Company Inc. indicate that the company periodically provides unaudited estimates of its net asset value per share of common stock, net investment income per share, and realized gains or losses per share for specified dates and quarters. These filings list the 7.75% Series B Term Preferred Stock due 2028 as one of the securities registered on the New York Stock Exchange under the symbol EICB, alongside the company’s common stock and other series of term preferred stock.

A definitive proxy statement (DEF 14A) filed with the SEC describes a proposal for Eagle Point Income Company Inc. to convert from a Delaware corporation to a Delaware statutory trust pursuant to a Plan of Conversion. The proxy materials explain that, if approved, each existing share of common stock would become a common share of beneficial interest and each existing share of preferred stock, including the Series B Term Preferred Stock, would become a preferred share of beneficial interest of the same series. The proxy statement also discusses that the company’s investment adviser, Eagle Point Income Management LLC, would continue to serve in that role following the proposed conversion, and that the company’s legal form would change while preserving its performance and accounting history.

Form 25 filings submitted by the New York Stock Exchange relate specifically to the 7.75% Series B Term Preferred Stock due 2028. These filings are notifications of removal from listing and/or registration under Section 12(b) of the Exchange Act for this class of securities. The Form 25 indicates that the exchange has complied with its rules to strike this preferred stock from listing and registration, and that the issuer has complied with the applicable requirements for voluntary withdrawal of the class from listing and registration on the exchange. These filings apply to the Series B Term Preferred Stock and do not, in the provided text, address the company’s other securities.

Through these disclosures, investors can see that EICB represents a specific preferred equity security of Eagle Point Income Company Inc., that it has been the subject of an underwritten public offering and subsequent exercise of an underwriters’ option, that it carries a credit rating from an NRSRO, and that there have been regulatory steps to remove this particular preferred series from NYSE listing and registration. The broader corporate context, including the proposed conversion to a Delaware statutory trust, is documented in the company’s proxy materials.