Horizon Technology Finance Corp. (HRZN: Quote) said Wednesday that it has priced an underwritten public offering of 1.66 million shares of its common stock at a price to the public of $16.20 per share, for total gross proceeds of about $26.9 million.
The company has granted the underwriters a 30-day option to purchase up to 249,000 additional shares of its common stock.
The public offering is expected to close on or about July 23.
Horizon plans to initially use the net proceeds of the offering to repay outstanding debt borrowed under its revolving credit facility with Wells Fargo Capital Finance, LLC and then, through re-borrowing under the facility, invest the net proceeds of this public offering in portfolio companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.
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by RTT Staff Writer
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