Proceeds used for investments, working capital and corporate purposes
By Devika Patel
Knoxville, Tenn., March 19 – Horizon Technology Finance Corp. said it priced a $27.9 million public offering of stock with a $4.98 million greenshoe. The deal was announced on Wednesday and will be conducted alongside a $5.3 million secondary sale.
The company will sell 2 million common shares at $13.95 per share, and the selling stockholder will sell 380,000 shares at the same price. The price per share is a 2.45% discount to the March 18 closing share price of $14.30.
Keefe, Bruyette & Woods, Inc. and Oppenheimer & Co. Inc. are the bookrunning managers.
Settlement is expected on March 24.
Proceeds will be used to make investments in portfolio companies and for working capital and general corporate purposes.
Horizon Technology Finance is a Farmington, Conn.-based specialty finance company that provides secured loans to venture capital and private equity-backed development-stage companies in the technology, life science, health-care information and services and clean-tech industries.
| Issuer: | Horizon Technology Finance Corp.
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| Issue: | Common stock
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| Amount: | $27.9 million
|
| Greenshoe: | $4,980,150
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| Shares: | 2 million
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| Price: | $13.95
|
| Warrants: | No
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| Bookrunners: | Keefe, Bruyette & Woods, Inc. and Oppenheimer & Co. Inc.
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| Co-lead managers: | Sterne, Agee & Leach, Inc. and Wunderlich Securities, Inc.
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| Co-managers: | Maxim Group LLC and MLV & Co. LLC
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| Announcement date: | March 18
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| Pricing date: | March 19
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| Settlement date: | March 24
|
| Stock symbol: | Nasdaq: HRZN
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| Stock price: | $14.30 at close March 18
|
| Market capitalization: | $132.77 million
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