FARMINGTON, Conn., May 30, 2023
/PRNewswire/ -- Horizon Technology Finance Corporation (Nasdaq:
HRZN) (the "Company" or "Horizon") announced today a proposed
underwritten primary offering of 3,250,000 shares of its common
stock. In connection with the proposed offering, the Company
intends to grant the underwriters for the offering a 30-day option
to purchase up to an additional 487,500 shares of the Company's
common stock.
The joint-lead book-running managers for the offering are Morgan
Stanley & Co. LLC, UBS Investment Bank, and Wells Fargo
Securities.
The Company intends to use the net proceeds of this offering to
repay its outstanding debt borrowed under its revolving credit
facility provided by KeyBank National Association (the "Key
Facility"). However, through re-borrowing of the initial repayments
under its Key Facility, the Company intends to use the net proceeds
from this offering to make investments in accordance with its
investment objective and strategies described in the prospectus
supplement and the accompanying prospectus, to pay the Company's
operating expenses and other cash obligations, and for general
corporate purposes.
Investors are advised to carefully consider the investment
objective, risks, charges and expenses of the Company before
investing. The preliminary prospectus supplement dated May 30, 2023 and the accompanying base prospectus
dated July 21, 2021 contains this and
other information about the Company and should be read carefully
before investing. The information in the preliminary prospectus
supplement, the accompanying prospectus and this press release is
not complete and may be changed.
The offering may be made only by means of a preliminary
prospectus supplement and an accompanying prospectus, copies of
which may be obtained from (1) Morgan Stanley & Co. LLC, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, (2) UBS Investment Bank,
Attention: Prospectus Department, 1285 Avenue of the Americas,
New York, New York 10019,
Telephone: 888-827-7275, or by email at
ol-prospectusrequest@ubs.com or (3) Wells Fargo Securities,
LLC at 550 West 33rd Street, New York, New York, 1001, Attn: Equity
Syndicate Department, by calling toll free 1-800-326-5897, or by
email at cmclientsupport@wellsfargo.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in this offering or
any other securities nor will there be any sale of these securities
or any other securities referred to in this press release in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under
the securities laws of such state or jurisdiction.
About Horizon Technology
Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a
leading specialty finance company that provides capital in the form
of secured loans to venture capital backed companies in the
technology, life science, healthcare information and services, and
sustainability industries. The investment objective of Horizon is
to maximize its investment portfolio's return by generating current
income from the debt investments it makes and capital appreciation
from the warrants it receives when making such debt investments.
Horizon is headquartered in Farmington,
Connecticut, with a regional office in Pleasanton, California, and investment
professionals located in Austin,
Texas, Chicago, Illinois,
Reston, Virginia and Portland, Maine. To learn more, please visit
horizontechfinance.com.
Forward-Looking
Statements
Statements included herein may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements other than statements of historical
facts included in this press release may constitute forward-looking
statements and are not guarantees of future performance, condition
or results and involve a number of risks and uncertainties. Actual
results may differ materially from those in the forward-looking
statements as a result of a number of factors, including those
described from time to time in the Company's filings with the
Securities and Exchange Commission. The Company undertakes no duty
to update any forward-looking statement made herein. All
forward-looking statements speak only as of the date of this press
release.
Contacts:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
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SOURCE Horizon Technology Finance Corporation