Eagle Point Income adopts Delaware trust structure

Eagle Point Income Company (EIC) reports that on August 24, 2026 it converted from a Delaware corporation into a Delaware statutory trust.

Rhea-AI Filing Summary

Eagle Point Income Company (EIC) reports that on August 24, 2026 it converted from a Delaware corporation into a Delaware statutory trust. Upon effectiveness, each outstanding common share became one common share of beneficial interest and each preferred share became a corresponding preferred share of beneficial interest with the same terms and designations.

The company’s common shares of beneficial interest continue to trade on the NYSE under ticker EIC, and its 5.00% Series A Term Preferred Shares due 2026 continue to trade under EICA. As a listed closed-end fund organized as a Delaware statutory trust, the company is now automatically subject to the Delaware Statutory Trust Act control share acquisition statute, which can limit voting rights for control shares acquired above specified voting power thresholds unless approved by a two-thirds shareholder vote excluding interested shares or exempted by the Board.

The Board considered the features of the conversion, including the application of the control share statute, and determined it is in the best interests of the company and its common shareholders. The Board has not granted any exemptions under the statute, and the company notes existing uncertainty under the 1940 Act regarding such state control share provisions.

Filing Explained

The August 24 supplement updates existing registration materials to reflect the conversion; it does not state a new takedown’s size, price, fees, issuance, or proceeds, so this filing alone does not disclose a completed financing.

Key Figures

Series AA Preferred Dividend Rate: 6.00% Series AB Preferred Dividend Rate: 6.00% Series A Term Preferred Dividend Rate: 5.00% +2 more

5 metrics

Series AA Preferred Dividend Rate 6.00% 6.00% Series AA Convertible and Perpetual Preferred Shares

Series AB Preferred Dividend Rate 6.00% 6.00% Series AB Convertible and Perpetual Preferred Shares

Series A Term Preferred Dividend Rate 5.00% 5.00% Series A Term Preferred Shares due 2026 listed as EICA

Shareholder Approval Threshold for Control Shares Voting Rights two-thirds Two-thirds of all votes entitled to be cast, excluding interested shares

Conversion Effective Date August 24, 2026 Date the company converted from a Delaware corporation to a Delaware statutory trust

Key Terms

Delaware Statutory Trust, control share acquisition statute, control beneficial interests, closed-end funds, +1 more

5 terms

Delaware Statutory Trust regulatory

"converted from a Delaware corporation to a Delaware Statutory Trust"

A Delaware statutory trust is a legal structure created under Delaware law that holds assets—often real estate or income-producing property—and issues shares of ownership to investors. It separates the assets and liabilities of the trust from individual investors, like a shared landlord that collects rent and pays expenses, and matters to investors because it can simplify ownership, limit personal liability, and make it easier to receive steady income or trade ownership stakes without managing properties directly.

control share acquisition statute regulatory

"subject to the control share acquisition statute (the “Control Share Statute”)"

control beneficial interests regulatory

"defines “control beneficial interests” (referred to as “control shares” herein)"

closed-end funds financial

"automatically applicable to listed closed-end funds, such as us"

A closed-end fund is an investment pool that raises a fixed amount of money by issuing a set number of shares, which then trade on an exchange like stocks. Unlike bank-style mutual funds that buy or sell shares on demand, its market price can sit above or below the fund’s per-share value of holdings (like a used-car market price versus the sticker price), so investors should watch both the traded price and the underlying asset value for potential bargains or risks.

interested shares regulatory

"excluding all interested shares (generally, shares held by the acquiring person"

Offering Details

shelf

Offering

Offering Type shelf

Securities Offered Common Shares; 6.00% Series AA Convertible and Perpetual Preferred Shares; 6.00% Series AB Convertible and Perpetual Preferred Shares

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What structural change did Eagle Point Income Company (EIC) announce in this 424B5 supplement?

Eagle Point Income Company converted from a Delaware corporation to a Delaware statutory trust on August 24, 2026. Each common and preferred share became a corresponding share of beneficial interest with the same terms and designations as the prior shares.

How did the conversion affect EIC’s common and preferred share listings?

After the conversion, EIC’s common shares of beneficial interest continue to be listed on the NYSE under ticker EIC, and its 5.00% Series A Term Preferred Shares due 2026 continue to be listed on the NYSE under ticker EICA.

What happens to voting rights under the Delaware control share acquisition statute for EIC?

Under the control share acquisition statute, holders of control shares acquired above certain voting power thresholds have no voting rights for those shares unless approved by a two-thirds shareholder vote excluding interested shares or exempted by the Board.

How did EIC’s Board assess the impact of the control share statute after the conversion?

The Board considered the material features of the conversion, including the application of the control share statute, and determined the conversion is in the best interests of the company and holders of its common shares of beneficial interest.

Has Eagle Point Income Company exempted any acquisitions from the control share statute?

No. The filing states that the Board has not exempted any acquisitions or classes of acquisitions for purposes of the control share statute, though the statute permits, but does not require, the Board to grant exemptions.

What uncertainty does EIC highlight regarding control share statutes and the 1940 Act?

The company notes that some uncertainty exists under the 1940 Act regarding state control share statutes, citing recent federal and state court decisions that found certain control share acquisition provisions violate the 1940 Act.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/24/2026 - 04:36 PM EDT Accepted by SEC EDGAR 08/24/2026 - 04:36 PM EDT Learn about SEC filing dates

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.