Filed
Pursuant to Rule 424(b)(5)
1933
Act File No. 333-281763
1940
Act File No. 811-23384
PROSPECTUS
SUPPLEMENT No. 2 dated August 24, 2026
(to
Prospectus dated December 9, 2024, Prospectus Supplement dated April 11, 2025 and Prospectus Supplement dated March 9, 2026)
EAGLE
POINT INCOME COMPANY
Common
Shares
6.00%
Series AA Convertible and Perpetual Preferred Shares
6.00%
Series AB Convertible and Perpetual Preferred Shares
This
Prospectus Supplement No. 2 (this “Supplement No. 2”) supplements and amends the Prospectus Supplement dated April 11, 2025
(the “ATM Prospectus Supplement”), the Prospectus Supplement dated March 9, 2026 (the “Convertible Preferred Prospectus
Supplement”), and the Prospectus dated December 9, 2024 (the “Base Prospectus”), included in the Registration Statement
on Form N-2 (File Nos. 333-281763 and 811-23384), each previously filed by Eagle Point Income Company Inc. (the “Company”)
with the Securities and Exchange Commission.
On
August 24, 2026, the Company converted from a Delaware corporation to a Delaware Statutory Trust (the “Conversion”). Upon
effectiveness of the Conversion, (i) the Company changed its name to Eagle Point Income Company, (ii) each outstanding share of common
stock converted into one common share of beneficial interest of the Company and (iii) each outstanding share of preferred stock converted
into one preferred share of beneficial interest of the Company of a corresponding series reflecting the same terms and designations as
the respective series of preferred stock from which it converted.
The
Company’s (i) common shares of beneficial interest continue to be listed on the New York Stock Exchange (the “NYSE”)
under the ticker symbol EIC and (ii) 5.00% Series A Term Preferred Shares due 2026 continue to be listed on the NYSE under the ticker
symbol EICA.
The
Company is subject to the control share acquisition statute (the “Control Share Statute”) contained in Subchapter III of
the Delaware Statutory Trust Act (the “DSTA”), which is automatically applicable to listed closed-end funds, such as us.
The
Control Share Statute defines “control beneficial interests” (referred to as “control shares” herein) by reference
to a series of voting power thresholds and provides that a holder of control shares acquired in a control share acquisition has no voting
rights under the DSTA or the Company’s governing documents with respect to the control shares acquired in the control share acquisition,
except to the extent approved by the Company’s shareholders by the affirmative vote of two-thirds of all the votes entitled to
be cast on the matter, excluding all interested shares (generally, shares held by the acquiring person and their associates and shares
held by Company insiders), or otherwise exempted by the Board. The Control Share Statute provides for a series of voting power thresholds
above which shares are considered control shares. Whether one of these thresholds of voting power is met is determined by aggregating
the holdings of the acquiring person as well as those of his, her or its “associates.”
These
thresholds are:
| · | 10%
or more, but less than 15% of all voting power; |
| · | 15%
or more, but less than 20% of all voting power; |
| · | 20%
or more, but less than 25% of all voting power; |
| · | 25%
or more, but less than 30% of all voting power; |
| · | 30%
or more, but less than a majority of all voting power; or |
| · | a
majority or more of all voting power. |
The
Board considered the material features of the Conversion, including the application of the Control Share Statute to the Company, and
determined that the Conversion of the Company, as impacted by the Control Share Statute, is in the best interests of the Company and
holders of its common shares of beneficial interest.
The
Control Share Statute does not provide that the Company can generally “opt out” of the application of the Control Share Statute;
rather, the Board is permitted, but not obligated, to exempt acquisitions specifically, generally, or generally by type of control shares,
either in advance or retroactively. The Control Share Statute further provides that the Board is under no obligation to grant any such
exemptions. The Board has not exempted any acquisitions or classes of acquisitions for purposes of the Control Share Statute.
The
foregoing is only a summary of certain aspects of the Control Share Statute. Some uncertainty around the application under the 1940 Act
of state control share statutes exists as a result of recent federal and state court decisions that have found that certain control share
acquisition provisions violate the 1940 Act.
This
Supplement No. 2 is not complete without, and may not be delivered or used except in connection with, the Base Prospectus and (i) the
ATM Prospectus Supplement or (ii) the Convertible Preferred Prospectus Supplement, as applicable.
The
date of this Supplement No. 2 is August 24, 2026.
