WhiteHorse Finance, Inc. Commences Public Offering of Notes

Rhea-AI Summary

WhiteHorse Finance, Inc. (Nasdaq: WHF) announced a registered public offering of notes, subject to market conditions. The interest rate and terms will be established at pricing. Proceeds will primarily be used to repay $35 million of unsecured notes due 2025 and to fund new investments aligned with the company's objectives. Raymond James & Associates, Inc. is the offering's sole book-running manager. Investors are encouraged to review the preliminary prospectus supplement and prospectus for detailed information on associated risks and charges.

Positive

• Intended use of funds includes repayment of $35 million in unsecured notes, which may improve the company's financial position.
• Proceeds will potentially fund new investments, supporting future growth.

Negative

• Offering of notes may lead to shareholder dilution if converted into equity.
• There is inherent risk associated with the offering depending on market conditions.

NEW YORK, Nov. 19, 2021 /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"), subject to market and other conditions. 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 indebtedness, including $35 million aggregate principal amount of its 6.50% unsecured notes due 2025 issued on November 13, 2018, to fund new investments in accordance with its investment objective and strategies and for general corporate purposes.

Raymond James & Associates, Inc. is serving as sole book-running 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 November 19, 2021 and the accompanying prospectus, dated June 11, 2019, 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: Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, telephone: (800) 248-8863, email: prospectus@raymondjames.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 $45 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 commitments managed 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.

FAQ

What is the purpose of WhiteHorse Finance's public offering of notes?

The proceeds from the note offering will primarily be used to repay existing debt and fund new investments.

How much debt is WhiteHorse Finance planning to repay with the offering?

WhiteHorse Finance intends to repay $35 million of its unsecured notes due 2025.

Who is managing the public offering of notes for WhiteHorse Finance?

Raymond James & Associates, Inc. is serving as the sole book-running manager for the offering.

What are the risks associated with the WhiteHorse Finance note offering?

Risks include potential shareholder dilution and market conditions affecting the terms of the offering.

When was the announcement for the note offering made by WhiteHorse Finance?

The announcement for the public offering was made on November 19, 2021.