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Horizon Technology Finance Corporation Prices Offering of Notes
FARMINGTON, Conn., June 10, 2022 /PRNewswire/ -- Horizon Technology Finance Corporation (Nasdaq: HRZN) (the "Company" or "Horizon") announced today that it
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"FARMINGTON, Conn., June 10, 2022 /PRNewswire/ -- Horizon Technology Finance Corporation (Nasdaq: HRZN) (the \"Company\" or \"Horizon\") announced today that it has priced an underwritten public offering of $50.0 million aggregate principal amount of notes due 2027 (the \"Notes\"), which will result in net proceeds to the Company of approximately $48.25 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Notes will mature on June 15, 2027 and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after June 15, 2024. The Notes will be issued in denominations of $25 and integral multiples of $25 in excess thereof and will bear interest at a rate of 6.250% per year, payable quarterly, with the first interest payment occurring on September 30, 2022. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional $7.50 million aggregate principal amount of Notes to cover overallotments, if any.\nThe offering is expected to close on June 15, 2022, subject to customary closing conditions. The Company intends to list the Notes on the New York Stock Exchange under the symbol \"HTFC.\"\nThe Company intends to use the net proceeds of the offering of the Notes to pay down borrowings under the Company's revolving credit facility with KeyBank National Association and for general corporate purposes.\nThe joint book-running managers for the offering are Keefe, Bruyette & Woods, A Stifel Company, B. Riley Securities and Oppenheimer & Co. The co-managers for the offering are Janney Montgomery Scott and Maxim Group LLC.\nInvestors are advised to carefully consider the investment objective, risks, charges and expenses of the Company before investing. The preliminary prospectus supplement dated June 8, 2022 and the accompanying base prospectus dated July 21, 2021, which have been filed with the Securities and Exchange Commission (\"SEC\"), contain this and other information about the Company and should be read carefully before investing. The information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed.\nA shelf registration statement relating to these securities is on file with and has been declared effective by the SEC....