WhiteHorse Finance, Inc. Prices Public Offering of $30 Million 6.50% Senior Notes Due 2020
WhiteHorse Finance, Inc. (the “Company”) (NASDAQ: WHF) announced
today the pricing 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. are acting as joint book-running managers
for the offering. Barclays Capital Inc. and BB&T Capital Markets, a
division of BB&T Securities, LLC, are acting as co-lead managers for the
offering. Sterne, Agee & Leach, Inc. and Wunderlich Securities, Inc. are
acting as co-managers for the offering.
The offering is expected to close on or about July 23, 2013, subject to
customary closing conditions. The Notes are expected to begin trading on
The NASDAQ Global Select Market under the symbol “WHFBL” on or about
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 preliminary prospectus dated July 15, 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.
The information in the preliminary prospectus and this press release is
not complete and may be changed. 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 $12 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.
Copyright Business Wire 2013