Proceeds used for debt repayment, working capital, corporate purposes
By Toni Weeks
San Diego, July 23 - Horizon Technology Finance Corp. said that the greenshoe for its public sale of stock was fully exercised, lifting proceeds to $30.93 million.
The company sold 1,909,000 common shares at $16.20 apiece. Of the shares, 249,000 comprised the greenshoe. The price per share is a 3.8% discount to the July 17 closing share price of $16.84.
Wells Fargo Securities, LLC and Stifel, Nicolaus & Co., Inc. were the joint bookrunning managers. BB&T Capital Markets, Sterne, Agee & Leach, Inc., JMP Securities LLC and Gilford Securities Inc. were the 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.
| Issuer: | Horizon Technology Finance Corp.
|
| Issue: | Common shares
|
| Amount: | $30,925,800 (including $4,033,800 greenshoe)
|
| Shares: | 1,909,000
|
| Price: | $16.20
|
| Warrants: | No
|
| Bookrunners: | Wells Fargo Securities, LLC and Stifel, Nicolaus & Co., Inc.
|
| Announcement date: | July 17
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Stock symbol: | Nasdaq: HRZN
|
| Stock price: | $16.84 at close July 17
|
| Market capitalization: | $125.42 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
