Horizon Technology Finance Corp. filed a prospectus supplement with the SEC related to the issuance and sale of up to $50 million of its common shares.
In connection with the offering, the company entered into an at-the-market issuance sales agreement with Goldman Sachs & Co. LLC and B. Riley FBR Inc. as sales agents. Under the agreement, Horizon Technology Finance may offer and sell the shares from time to time through the sales agents. The sales agents will receive a commission from the company equal to up to 1.75% of the gross sales price of any shares sold under the agreement.
Horizon Technology Finance intends to use substantially all the net proceeds from the offering to make investments in development-stage companies and for general corporate purposes. The company may also use a portion of the net proceeds to reduce any of its outstanding borrowings.