NEW YORK,
June 27, 2017
/PRNewswire/ -- WhiteHorse Finance,
Inc. ("WhiteHorse Finance" or the "Company") (NASDAQ: WHF;
NASDAQ: WHFBL) announced today that it has priced an underwritten
primary offering of 2,200,000 shares of its common stock at a
public offering price of $13.97 per share, which will result in net
proceeds to the Company of approximately $30.2 million.
The Company's investment adviser has agreed to bear a portion of
the underwriting discounts and commissions in connection with the
offering of shares by the Company, which will result in net
proceeds to the Company at
or above net asset value per share. The Company is not
obligated to repay any of the amounts paid by the investment
adviser. In addition, in connection with this proposed
offering, two stockholders of the Company, H.I.G. Bayside Debt
& LBO Fund II, L.P. and H.I.G. Bayside Loan Opportunity Fund
II, L.P. (the "Bayside Funds"), have granted the underwriters a
30-day option to purchase up to an additional 330,000 shares of
common stock to cover overallotments, if any. The shares are
expected to be delivered to investors on June 30, 2017, subject to customary closing
conditions.
The Company intends to use all or substantially all of the
net proceeds from the offering of its common stock to invest
primarily in senior secured debt investments in lower middle market
companies in accordance with its investment objective and for
general corporate purposes. The Company will not receive any
proceeds for the sale of shares of its common stock offered by the
Bayside Funds.
Deutsche Bank Securities, J.P. Morgan and Baird are acting
as joint book-running managers for the offering. BB&T Capital
Markets, Oppenheimer & Co. and Wunderlich are acting as
co-managers for the offering.
Investors are advised to consider carefully the
Company's investment objectives, risks, charges and expenses before
investing. The preliminary prospectus supplement dated
June 26, 2017 and the accompanying
prospectus dated June 15, 2017, which
have been filed with the Securities and Exchange Commission
("SEC"), contain 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 preliminary prospectus supplement, the
accompanying prospectus and this press release are not offers to
sell these securities and are not soliciting an offer to buy these
securities in any jurisdiction where such offer or sale is not
permitted.
A shelf registration statement relating to these
securities is on file with and has been declared effective by the
SEC. The offering may be made only by means of a prospectus and
a related prospectus supplement, copies of which may be obtained by
writing either (i) Deutsche Bank Securities Inc., Attention:
Prospectus Group, 60 Wall Street, New
York, NY 10005-2836 or by e-mailing
prospectus.cpdg@db.com or by calling (800) 503-4611, (ii)
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717, Attention: Prospectus Department, or by calling
(866) 803-9204 or (iii) Robert W. Baird & Co.
Incorporated, Attention: Prospectus Department, 777 East Wisconsin
Avenue, Milwaukee, WI 53202 or by
emailing syndicate@rwbaird.com; copies may also be obtained by
visiting EDGAR on the SEC's website
at http://www.sec.gov.
About WhiteHorse Finance, Inc.
WhiteHorse Finance is a business development company
that originates and invests in loans to privately held lower middle
market companies across a broad range of industries. The Company's
investment activities are managed by H.I.G. WhiteHorse Advisers,
LLC, an affiliate of H.I.G. Capital, LLC ("H.I.G.
Capital"). H.I.G. Capital is a leading global alternative
asset manager with $21 billion of capital under
management* across a number of funds focused on the lower
middle market.
Forward-Looking Statements
This press release may contain "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 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 filings with the SEC. 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.
* Based on total capital commitments managed by H.I.G.
Capital and affiliates.
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SOURCE WhiteHorse Finance, Inc.