On October 30, 2024, Premium Income Corporation launched a new offering of up to 4,350,000 Preferred Shares, priced at $15.00 each, targeting gross proceeds of $65.25 million. National Bank Financial Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Hampton Securities Limited, Canaccord Genuity Corp., iA Private Wealth Inc., Raymond James Ltd., and Wellington-Altus Private Wealth Inc. acted as agents for the offering on a best efforts basis. Osler, Hoskin & Harcourt LLP provided legal counsel for the fund, while Blake, Cassels & Graydon LLP advised the agents.

The offering’s net proceeds, estimated at $63.14 million after fees and expenses, will be allocated according to the fund’s objectives. The issuance has been conditionally approved for trading on the Toronto Stock Exchange (TSX) under the symbol “PIC.PR.A,” with an anticipated close by November 6, 2024.