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Horizon Technology Finance Corporation Prices Public Offering of Common Stock
FARMINGTON, Conn., May 30, 2023 /PRNewswire/ -- Horizon Technology Finance Corporation (Nasdaq: HRZN) (the "Company" or "Horizon") today announced that it has
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"FARMINGTON, Conn., May 30, 2023 /PRNewswire/ -- Horizon Technology Finance Corporation (Nasdaq: HRZN) (the \"Company\" or \"Horizon\") today announced that it has priced an underwritten public offering of 3,250,000 shares of its common stock at a price to the public of $12.50 per share for total gross proceeds of approximately $40,625000, before deducting underwriting commission and discounts and estimated offering expenses. The public offering is expected to close on or about June 2, 2023, subject to the customary closing conditions. In connection with the offering, the Company has granted the underwriters for the offering a 30-day option to purchase up to an additional 487,500 shares of the Company's common stock solely to cover overallotments, if any.\nThe joint-lead book-running managers for the offering are Morgan Stanley & Co. LLC, UBS Investment Bank, and Wells Fargo Securities. The co-managers for the offering are Janney Montgomery Scott LLC and Maxim Group LLC.\nThe Company intends to use the net proceeds of this offering to repay its outstanding debt borrowed under its revolving credit facility provided by KeyBank National Association (the \"Key Facility\"). However, through re-borrowing of the initial repayments under its Key Facility, the Company intends to use the net proceeds from this offering to make investments in accordance with its investment objective and strategies described in the prospectus supplement and the accompanying prospectus, to pay the Company's operating expenses and other cash obligations, and for general corporate purposes.\nInvestors are advised to carefully consider the investment objective, risks, charges and expenses of the Company before investing. The preliminary prospectus supplement dated May 30, 2023 and the accompanying base prospectus dated July 21, 2021 contains 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.\nThe offering may be made only by means of a preliminary prospectus supplement and an accompanying prospectus, copies of which may be obtained from (1) Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, (2) UBS Investment Bank, Attention: ...