March 25, 2019

Farmington's Horizon Tech eyes $24M capital raise

Farmington's Horizon Technology Finance Corp. is publicly offering 2 million common shares to gross $24.3 million in new capital to fund operations and investments and pay down debt.

The specialty financier to startup life-sciences, health-data and environmental-services vendors said it expects to close its $12.14-per-share offering on or about Tuesday, subject to customary closing conditions.

Horizon said it also granted its underwriters a 30-day option to purchase an extra 300,000 shares to cover any overallotments.

The company said net proceeds will go to repay its outstanding borrowings obtained through a revolving line of credit from Key Bank.

The joint-lead book-running managers for the offering are Morgan Stanley & Co. LLC, UBS Securities LLC, and Janney Montgomery Scott LLC.

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