HRZN - Horizon Technology Finance raises $50M debt capital

Horizon Technology Finance (NASDAQ:HRZN) has priced an underwritten public offering of $50M of notes due June 15, 2027. Net proceeds to be approximately $48.25M. The notes will be issued in denominations of $25 and integral multiples of $25 in excess thereof and will bear interest at a rate of 6.250% per year, payable quarterly, with the first interest payment occurring on September 30, 2022. Underwriters' over-allotment is an additional $7.50M of notes. Offering is expected to close on June 15, 2022. The notes may be redeemed in whole or in part at any time or from time to time at the company's option on or after June 15, 2024. The company intends to list the notes on the New York Stock Exchange under the symbol "HTFC." Net proceeds will be sued to pay down borrowings under the company's revolving credit facility with KeyBank National Association and for general corporate purposes.

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Horizon Technology Finance raises $50M debt capital