Horizon Tech Finance falls on pricing share offering

Horizon Technology Finance

31/05/2023 11:05

** Horizon Technology Finance Corp  HRZN.O  shares down 7.8%
at $12.23 before the bell on overnight follow-on
    ** Business development co (BDC) late Tues said sold 3.25
mln shares at $12.50 for ~$40.6 mln gross raise
    ** Offering price is 5.8% discount to stock's last sale
    ** Co plans to repay debt under credit facility, re-borrow
to make investments in development-stage firms in tech, life
science, healthcare information/services, and sustainability
industries
    ** HRZN has ~28.8 mln shares outstanding, per recent SEC
filing
    ** Shares up 14.4% YTD through Tues close
    ** Morgan Stanley, UBS and Wells Fargo Securities jt
bookrunners for offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))