Horizon Technology to price public sale of common stock with greenshoe

Proceeds used for debt repayment, working capital, corporate purposes

By Devika Patel

Knoxville, Tenn., July 17 - Horizon Technology Finance Corp. said it plans to price a public sale of stock with a greenshoe.

The company will sell 1.66 million common shares with another 249,000 shares allotted for the greenshoe.

Wells Fargo Securities, LLC and Stifel, Nicolaus & Co., Inc. are the joint bookrunning managers, and BB&T Capital Markets, Sterne, Agee & Leach, Inc., JMP Securities LLC and Gilford Securities Inc. are co-managers.

Proceeds will be used to repay debt borrowed under the company's revolving credit facility with Wells Fargo Capital Finance, LLC 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.

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