NEW
YORK, Aug. 16, 2023 /PRNewswire/ --
WhiteHorse Finance, Inc., a business development company
(the "Company") (Nasdaq: WHF), today announced that it has
commenced a registered public offering of notes (the "Notes"). The
Company has submitted an application for the Notes to be listed and
to trade on The Nasdaq Global Select Market under the trading
symbol "WHFCL". If approved for listing, the Company expects the
Notes to begin trading within 30 days from the original issue date.
The interest rate and other terms of the Notes will be determined
at the time of pricing of the offering.
The Company intends to use all or substantially all of the net
proceeds from the offering to repay amounts outstanding under its
existing revolving credit facility with JPMorgan Chase Bank, N.A.
(the "Credit Facility"), to fund new investments in accordance with
its investment objective and strategies and for general corporate
purposes. As of August 15, 2023, the
Company had $267 million of
indebtedness outstanding under the Credit Facility. Borrowings
under the Credit Facility generally bear interest at an annual rate
equal to SOFR plus 2.50% and will mature on November 22, 2025.
Oppenheimer & Co. Inc., B. Riley Securities, Inc. and
Ladenburg Thalmann & Co., Inc.are acting as joint book-running
managers for the offering. William
Blair & Company, L.L.C. is acting as co-manager for the
offering.
Investors are advised to carefully consider the investment
objectives, risks and charges and expenses of the Company before
investing. The preliminary prospectus supplement, dated
August 16, 2023 and the accompanying
prospectus, dated August 2, 2022,
each of which has been filed with the Securities and Exchange
Commission, contain 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
securities 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.
The offering may be made only by means of a prospectus and a
related prospectus supplement, copies of which may be obtained
from: Syndicate Prospectus Department, 85 Broad Street, 26th Floor,
New York, NY 10004, by telephone
at (212) 667-8055, or by email at
FixedIncomeProspectus@opco.com.
About WhiteHorse Finance, Inc.
WhiteHorse Finance, Inc. is a business development company
that originates and invests in loans to privately held, lower
middle market companies across a broad range of industries. The
Company's investment activities are managed by H.I.G. WhiteHorse
Advisers, LLC, an affiliate of H.I.G. Capital, LLC ("H.I.G.
Capital"). H.I.G. Capital is a leading global alternative
asset manager with over $58
billion of capital under management* across a number of
funds focused on the small and mid-cap markets. 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.
* Based on total capital raised by H.I.G. Capital and
affiliates.
Contacts
Stuart Aronson
WhiteHorse Finance, Inc.
212-506-0500
saronson@higwhitehorse.com
Joyson Thomas
WhiteHorse Finance, Inc.
305-379-2322
jthomas@higwhitehorse.com
Robert Brinberg
Rose & Company
212-257-5932
whitehorse@roseandco.com
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SOURCE WhiteHorse Finance, Inc.