FARMINGTON, Conn., Feb. 23, 2023 /PRNewswire/ — Horizon Technologies Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), a leading specialty finance business that offers capital in the variety of secured loans to undertaking funds backed businesses in the technologies, lifetime science, healthcare details and companies, and sustainability industries, nowadays announced that an affiliate of Monroe Capital LLC (“Monroe Cash”), a premier boutique center current market asset manager, has entered into a definitive arrangement to obtain Horizon Technologies Finance Management LLC (“HTFM”), the expense adviser to the Corporation (the “Transaction”), and that the Company’s Board of Directors has unanimously authorized a new expenditure advisory settlement with HTFM, subject matter to stockholder approval and the closing of the Transaction.
The conditions of the proposed new investment advisory settlement amongst the Firm and HTFM are substantially very similar to the existing arrangement concerning HTFM and the Business.
In relationship with the Transaction, HTFM’s recent management team and financial investment staff are expected to continue on to provide as officers and senior management of the Corporation and the Business strategies to retain and expand its undertaking lending investment system. Monroe Funds and HTFM think that the Transaction will allow for the Company to gain from the capability to seize a broader vary of investment chances made to improve shareholder value in each the in close proximity to and extensive-term as a result of access to Monroe Capital’s fundraising capabilities and in general financial investment system. Monroe is a market chief in private credit score with a 20-year track report and close to $16 billion in assets beneath administration.
Monroe Cash Chairman and Main Govt Officer Ted Koenig commented, “Horizon has assembled a superior-top quality portfolio and potent market place situation that we intend to proceed to scale into a sector leader in venture lending. Monroe has a strong asset administration, immediate origination and fundraising system, together with a tested skill to deliver steady and differentiated returns for buyers. We carry on to glance for ways to strategically differentiate and scale our asset management platform and Horizon augments our virtually 20-yr observe file and skills in specialty lending areas, together with software package and know-how, specialty finance, unbiased sponsor finance, opportunistic, media and enjoyment, sporting activities, fintech and actual estate. This acquisition will allow for us to better provide our restricted partners and other traders with additional products knowledge with a confirmed management team focused to venture lending.”
“We consider this transaction combining Horizon’s founded existence in the undertaking lending sector and Monroe’s deep credit rating knowledge provides a powerful opportunity to participate in the potential expansion opportunity of the Horizon portfolio less than a larger sized, much more diversified supervisor, led by a very knowledgeable investment decision team. Monroe’s extended-expression expense technique, emphasizing return consistency and draw back protection for buyers, is even further increased by adding a main undertaking lending system to the system,” said Zia Uddin, Monroe Cash President & Co-Portfolio Supervisor, Institutional Portfolios.
Rob Pomeroy, Chairman and Main Government Officer of HTFM, said, “We are assured that Monroe Capital’s system is a pure in good shape for HTFM and we imagine signing up for with the Monroe Capital staff has the capability to build fantastic benefit for Horizon shareholders. Our cultures and values are aligned, and with the ability to access Monroe Capital’s platform and infrastructure shifting forward, we feel Horizon will practical experience increased expenditure alternatives with greater diversity, with most likely lowered costs by economies of scale. We are psyched to be partnering with Monroe Cash as we proceed to provide more value for Horizon’s shareholders.”
Consummation of the Transaction is issue to customary closing ailments, such as acceptance of the new financial commitment advisory settlement with HTFM by the Firm’s stockholders. The Company’s Board of Administrators unanimously endorses that the Company’s stockholders approve HTFM to go on as the Company’s financial commitment adviser. Senior management of HTFM has agreed to vote their shares in favor of the acquisition transaction.
Dechert LLP is acting as lawful counsel, and Broadhaven Cash Associates is acting as financial advisor, to HTFM. Nelson, Mullins, Riley & Scarborough LLP is performing as authorized counsel, and JMP Securities, a Citizens Business is performing as economic advisor, to Monroe Cash. Blank Rome LLP is acting as lawful counsel to the Company’s independent directors.
About Monroe Funds LLC
Monroe Cash is a leading boutique asset management company specializing in private credit score marketplaces throughout several approaches, which includes immediate lending, asset-dependent lending, specialty finance, opportunistic and structured credit rating, and equity. Considering that 2004, the company has been productively offering money options to shoppers in the U.S. and Canada. Monroe prides itself on currently being a value-included and user-pleasant lover to organization house owners, administration, and equally private equity and impartial sponsors. Monroe’s platform gives a large variety of financial investment products for equally institutional and higher net value investors with a concentrate on building large good quality “alpha” returns irrespective of business or financial cycles. The business is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, Miami, Naples, New York, San Francisco, and Seoul.
Monroe has been acknowledged by the two its friends and traders with many awards together with World-wide M&A Community as the 2022 Smaller Mid-Marketplaces Loan company of the Calendar year, Americas Private Credit card debt Investor as the 2021 Senior Loan provider of the Calendar year, 2021 Decrease Mid-Current market Financial institution of the Yr, Americas Creditflux as the 2021 Finest U.S. Immediate Lending Fund and Pension Bridge as the 2020 Personal Credit rating Technique of the 12 months. For much more facts, make sure you stop by www.monroecap.com.
About Horizon Technological know-how Finance
Horizon Technological know-how Finance Company (NASDAQ: HRZN) is a primary specialty finance corporation that provides funds in the sort of secured loans to undertaking funds backed firms in the engineering, lifestyle science, health care data and companies, and sustainability industries. The financial investment goal of HRZN is to improve its investment portfolio’s return by building latest money from the debt investments it will make and money appreciation from the warrants it receives when creating such personal debt investments. Horizon Technological know-how Finance Administration LLC is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment pros positioned in Portland, Maine, Austin, Texas, and Reston, Virginia. To discover much more, make sure you go to www.horizontechfinance.com.
Ahead-On the lookout Statements
Statements involved herein may constitute “ahead-hunting statements” within the indicating of the Personal Securities Litigation Reform Act of 1995. Statements other than statements of historical info bundled in this push release may well constitute ahead-searching statements and are not assures of long run effectiveness, affliction or final results and contain a range of pitfalls and uncertainties. Precise results may possibly vary materially from those in the ahead-looking statements as a outcome of a selection of variables, which includes individuals explained from time to time in the Company’s filings with the Securities and Trade Commission. Horizon undertakes no obligation to update any forward-on the lookout statement designed herein. All ahead-searching statements converse only as of the day of this press launch.
Additional Information and Where by to Locate It
In link with the proposed transaction, Horizon Technological innovation Corporation intends to file related elements with the SEC, which include a proxy statement on Timetable 14A (“Proxy Assertion”) that will supply further details about the proposed transaction. INVESTORS AND STOCKHOLDERS ARE URGED TO Read through THE PROXY Statement, WHEN IT Results in being Offered, AND ANY OTHER Pertinent Files Submitted WITH THE SEC, AND ANY AMENDMENTS OR Supplements TO THESE Paperwork, Meticulously AND IN THEIR ENTIRETY Simply because THEY WILL Contain Significant Info, Amid OTHER Issues, ABOUT HORIZON Technology FINANCE Corporation, HORIZON Technology FINANCE Management LLC, MONROE Cash LLC, AND THE PROPOSED NEW Investment ADVISORY Agreement. Investors and stockholders may possibly receive these paperwork (and any other documents submitted by the Business with the SEC) absolutely free of charge at the SEC’s website at http://www.sec.gov and from Horizon Technological innovation Finance Corporation’s site (www.horizon techfinance.com). Traders and stockholders may perhaps also receive free copies of the proxy assertion (when it will become obtainable) and other files submitted with the SEC by Horizon Know-how Finance Corporation free of demand by contacting Garrett Edson, Horizon Technological innovation Finance Corporation’s Investor Relations get hold of, at 860-284-6450. Investors and stockholders are urged to read through the Proxy Statement and the other pertinent resources when they come to be out there ahead of earning any voting or investment choice with regard to the proposed new investment decision advisory agreement.
Participants in the Solicitation
Horizon Technological know-how Finance Corporation, Horizon Technological know-how Finance Management LLC, and Monroe Capital LLC may be considered to be participants in the anticipated solicitation of proxies from the Company’s stockholders in link with the transaction. Information about Horizon Technology Finance Corporation’s directors and government officers is obtainable in its definitive proxy assertion for its 2022 once-a-year conference of stockholders submitted with the SEC on April 22, 2022, and subsequent filings which the Business has created with the SEC. Details about Horizon Technology Finance Administration LLC’s administrators and officers is obtainable on its Variety ADV now on file with the SEC. More detailed info relating to the id of possible members, and their immediate or oblique pursuits, by protection holdings or otherwise, which could be distinct than all those of the Company’s stockholders frequently, will be set forth in the Proxy Statement when and it becomes accessible and in other appropriate supplies to be filed with the SEC. These paperwork may perhaps be received no cost of demand from the resources indicated over.
Supply Horizon Technological innovation Finance Company