Filed pursuant to Rule 497

File No. 333-178548

Supplement dated May 1, 2015

to

Prospectus dated April 30, 2015

 

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This supplement contains information which amends, supplements or modifies certain information contained in the Prospectus of HMS Income Fund, Inc. (the “Company”) dated April 30, 2015 (as supplemented and amended, the “Prospectus”). This supplement is part of, and should be read in conjunction with, the Prospectus. The Prospectus has been filed with the Securities and Exchange Commission and is available at www.sec.gov or by calling (888) 446-3773. Capitalized terms used in this supplement have the same meanings as in the Prospectus, unless otherwise stated herein.

You should carefully consider the “Risk Factors” beginning on page 27 of the Prospectus before you decide to invest.

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Increase in Public Offering Price

On May 1, 2015, we increased our public offering price from $9.75 per share to $9.90 per share.  This increase in the public offering price will be effective as of our May 7, 2015 weekly closing.  In accordance with our share pricing policy, our board of directors determined that an increase in the public offering price per share was warranted following an increase in our estimated net asset value per share in order to ensure that our net asset value per share does not exceed our net offering price per share. As a result of the increase in our public offering price per share, our maximum combined sales commission and dealer manager fee per share and the net proceeds per share will correspondingly increase from $0.97 to $0.99 and $8.78 to $8.91, respectively.