WhiteHorse Finance, Inc. Announces Closing of Public Offering of $30 Million 6.50% Senior Notes Due 2020
24 July 2013 - 2:00AM
Business Wire
WhiteHorse Finance, Inc. (the “Company”) (NASDAQ: WHF)
announced today the closing of an underwritten public offering of
$30,000,000 in aggregate principal amount of 6.50% senior notes due
2020 (the “Notes”). The Notes will mature on July 31, 2020 and may
be redeemed in whole or in part at any time or from time to time at
the Company’s option on or after July 31, 2016. The Notes will bear
interest at a rate of 6.50% per year payable on March 31, June 30,
September 30 and December 31 of each year, with the first interest
payment occurring on September 30, 2013. The Company has granted
the underwriters an option to purchase up to an additional
$4,500,000 aggregate principal amount of Notes to cover
over-allotments, if any.
Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc.
and Citigroup Global Markets Inc. acted as joint book-running
managers for the offering. Barclays Capital Inc. and BB&T
Capital Markets, a division of BB&T Securities, LLC, acted as
co-lead managers for the offering. Sterne, Agee & Leach, Inc.
and Wunderlich Securities, Inc. acted as co-managers for the
offering.
The Notes began trading on The NASDAQ Global Select Market under
the symbol “WHFBL” on July 22, 2013.
The Company expects to use the net proceeds to reduce
outstanding obligations under its unsecured term loan.
Investors are advised to consider carefully the investment
objectives, risks and charges and expenses of the Company before
investing. The prospectus dated July 16, 2013, which has been filed
with the Securities and Exchange Commission, contains this and
other 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, nor will there be any sale of the
Notes 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. A registration
statement relating to these securities was filed and has been
declared effective by the Securities and Exchange Commission on
July 16, 2013. This offering is being made solely by means of a
written prospectus forming part of the effective registration
statement. A copy of the final prospectus relating to the
offering may be obtained, when available, from any of the following
joint book-running managers: 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; Keefe, Bruyette & Woods, Inc., Attention:
Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019
or by calling toll-free (800) 966-1559; or Citigroup Global Markets
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by calling (800) 831-9146.
About WhiteHorse Finance, Inc.
WhiteHorse Finance, Inc. is a business development company that
originates and invests in loans to privately held small-cap
companies across a broad range of industries. The Company’s
investment activities are managed by its investment adviser, H.I.G.
WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, L.L.C.
(“H.I.G. Capital”). H.I.G. Capital is a leading global alternative
asset manager managing approximately $13 billion of capital across
a number of funds focused on the small-cap market. For more
information about H.I.G. Capital, please visit
http://www.higcapital.com. For more information about the Company,
please visit http://www.whitehorsefinance.com.
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 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.
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