Horizon Technology Finance Corp. (HRZN: Quote) said Monday that it has completed a public offering of about 1.9 million shares of its common stock, including 249,000 shares of common stock that were issued pursuant to the underwriters' option to purchase additional shares, at a public offering price of $16.20 per share for total gross proceeds of about $30.9 million.
The company plans to initially use the net proceeds of this 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 the 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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