Horizon Technology Finance Prices Public Offering Of 3.25 Mln Shares At $12.50/shr

(RTTNews) - Horizon Technology Finance Corp. (HRZN) said that it has priced an underwritten public offering of 3.25 million shares of its common stock at a price of $12.50 per share for total gross proceeds of about $40.63 million, before deducting underwriting commission and discounts and estimated offering expenses.

The public offering is expected to close on or about June 2, 2023.

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.

The company plans to use the net proceeds of the offering to repay its outstanding debt borrowed under its revolving credit facility provided by KeyBank National Association.

The company also intends to use the net proceeds from the offering to make investments, and for general corporate purposes.