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Hennessy Advisors, Inc. Announces Notes Offering
NOVATO, Calif., Oct. 12, 2021 /PRNewswire/ -- Hennessy Advisors, Inc. (the "Company") (NASDAQ: HNNA) today announced that it was commencing an underwritten
About this update from Hennessy Advisors, Inc.
[{"type":"text","content":"NOVATO, Calif., Oct. 12, 2021 /PRNewswire/ -- Hennessy Advisors, Inc. (the \"Company\") (NASDAQ: HNNA) today announced that it was commencing an underwritten public offering of unsecured notes due 2026 (the \"2026 Notes\"). Oppenheimer & Co. Inc. is acting as book-running manager for the offering, and Janney Montgomery Scott LLC is acting as co-manager. \nThe Company expects the 2026 Notes to be listed on Nasdaq under the trading symbol HNNAZ and to trade on Nasdaq within 30 days from the original issue date. The interest rate and other terms of the 2026 Notes will be determined by negotiations between the Company and the underwriters.\nThe Company expects to use the net proceeds from the offering for general corporate purposes, which may include future acquisitions or repurchase of shares of the Company's outstanding common stock pursuant to a self–tender offer.\nA registration statement relating to the 2026 Notes has been filed with the Securities and Exchange Commission (the \"SEC\"), but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. The offering will be made only by means of a prospectus, copies of which may be obtained, when available, from:\nOppenheimer & Co. Inc.85 Broad StreetNew York, New York [email protected] \nAbout Hennessy Advisors, Inc.Hennessy Advisors, Inc. is a publicly traded investment manager offering a broad range of domestic equity, multi-asset, and sector and specialty mutual funds. Hennessy Advisors, Inc. is committed to providing superior service to shareholders and employing a consistent and disciplined approach to investing based on a buy–and–hold philosophy that rejects the idea of market timing. \nSupplemental InformationNothing in this press release shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction.\nForward-Looking StatementsThis press release contains \"forward-looking statements\" for which Hennessy Advisors, Inc. claims the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995. Forward–looking statements relate to expectations and projections about fut...