of Public Offering of Common Stock
FARMINGTON, Conn., July 23, 2012 (GLOBE NEWSWIRE) -- Horizon Technology
Finance Corporation (Nasdaq:HRZN) (the "Company" or "Horizon")
announced today that it has completed a public offering of 1,909,000
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 approximately $30.9 million.
Wells Fargo Securities, LLC and Stifel, Nicolaus & Company,
Incorporated acted as joint book-running managers for the offering.
BB&T Capital Markets, Sterne, Agee & Leach, Inc., JMP Securities LLC
and Gilford Securities Incorporated acted as co-managers.
The Company intends 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 this public offering in
portfolio companies in accordance with its investment objective and
strategies, and for working capital and general corporate purposes.
The shares have been issued from the Company's shelf registration
statement relating to these securities on file with and declared
effective by the Securities and Exchange Commission. The offering may
be made only by means of a prospectus and a related prospectus
supplement, copies of which may be obtained from Wells Fargo
Securities, 375 Park Avenue, New York, NY 10152-4077, Attn: Equity
or from Stifel, Nicolaus & Company, Incorporated, Attention: Equity
Syndicate Department, One South Street, 15th Floor, Baltimore, MD
21202, by calling (443) 224-1988 or by email at
the investment objectives, risks and charges and expenses of the
Company before investing. The prospectus supplement dated July 18, 2012
and accompanying prospectus dated May 7, 2012, each of which has been
filed with the Securities and Exchange Commission, contain a
description of these matters and other important information about the
Company and should be read carefully before investing.
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 is a business development
company that provides secured loans to development-stage companies
backed by established venture capital and private equity firms within
the technology, life science, healthcare information and services, and
clean-tech industries. The investment objective of Horizon Technology
Finance is to maximize total risk-adjusted returns by generating
current income from a portfolio of directly originated secured loans as
well as capital appreciation from warrants to purchase the equity of
portfolio companies. Headquartered in Farmington, Connecticut, with a
regional office in Walnut Creek, California, the Company is externally
managed by its investment advisor, Horizon Technology Finance
Management LLC, a Securities and Exchange Commission registered
Statements included herein may constitute "forward-looking statements,"
which relate to future events or our future performance or financial
condition. These statements 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 our 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.
CONTACT: Horizon Technology Finance Corporation
Christopher M. Mathieu
Chief Financial Officer
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