FARMINGTON, Conn., Feb. 23, 2023 /PRNewswire/ — Horizon Technological know-how Finance Company (NASDAQ: HRZN) (“Horizon” or the “Company”), a primary specialty finance business that gives capital in the type of secured financial loans to enterprise money backed providers in the technology, lifetime science, health care facts and solutions, and sustainability industries, now introduced that an affiliate of Monroe Money LLC (“Monroe Funds”), a leading boutique center current market asset supervisor, has entered into a definitive settlement to purchase Horizon Technologies Finance Administration LLC (“HTFM”), the investment adviser to the Corporation (the “Transaction”), and that the Firm’s Board of Administrators has unanimously accredited a new expense advisory arrangement with HTFM, subject to stockholder approval and the closing of the Transaction.
The terms of the proposed new investment decision advisory arrangement between the Enterprise and HTFM are considerably similar to the existing arrangement concerning HTFM and the Organization.
In relationship with the Transaction, HTFM’s current management team and investment staff are anticipated to go on to provide as officers and senior management of the Company and the Business ideas to manage and develop its undertaking lending investment decision approach. Monroe Cash and HTFM believe that that the Transaction will permit the Firm to reward from the capacity to capture a broader assortment of expenditure possibilities made to greatly enhance shareholder value in the two the close to and long-time period as a consequence of access to Monroe Capital’s fundraising abilities and overall financial commitment platform. Monroe is a market chief in private credit rating with a 20-year track report and about $16 billion in property beneath administration.
Monroe Capital Chairman and Main Govt Officer Ted Koenig commented, “Horizon has assembled a large-good quality portfolio and robust market place that we intend to continue on to scale into a industry leader in undertaking lending. Monroe has a strong asset management, direct origination and fundraising system, along with a verified potential to deliver constant and differentiated returns for traders. We continue on to glance for approaches to strategically differentiate and scale our asset administration platform and Horizon augments our just about 20-year observe record and experience in specialty lending parts, such as application and technological know-how, specialty finance, unbiased sponsor finance, opportunistic, media and leisure, athletics, fintech and true estate. This acquisition will allow us to much better serve our restricted companions and other investors with extra products abilities with a confirmed management workforce dedicated to enterprise lending.”
“We imagine this transaction combining Horizon’s recognized existence in the venture lending industry and Monroe’s deep credit rating knowledge features a powerful prospect to participate in the foreseeable future development likely of the Horizon portfolio underneath a more substantial, much more diversified supervisor, led by a highly expert investment decision workforce. Monroe’s prolonged-time period financial commitment tactic, emphasizing return regularity and draw back defense for buyers, is more improved by introducing a main venture lending tactic to the platform,” mentioned Zia Uddin, Monroe Money President & Co-Portfolio Manager, Institutional Portfolios.
Rob Pomeroy, Chairman and Chief Executive Officer of HTFM, explained, “We are self-confident that Monroe Capital’s platform is a natural suit for HTFM and we feel joining with the Monroe Money workforce has the ability to create good benefit for Horizon shareholders. Our cultures and values are aligned, and with the capacity to access Monroe Capital’s system and infrastructure going forward, we believe that Horizon will encounter amplified expense alternatives with larger diversity, with potentially decreased expenditures by means of economies of scale. We are psyched to be partnering with Monroe Cash as we continue on to provide added benefit for Horizon’s shareholders.”
Consummation of the Transaction is topic to customary closing problems, such as approval of the new expenditure advisory arrangement with HTFM by the Firm’s stockholders. The Company’s Board of Administrators unanimously suggests that the Firm’s stockholders approve HTFM to continue on as the Firm’s investment adviser. Senior management of HTFM has agreed to vote their shares in favor of the acquisition transaction.
Dechert LLP is performing as legal counsel, and Broadhaven Money Associates is performing as economic advisor, to HTFM. Nelson, Mullins, Riley & Scarborough LLP is acting as lawful counsel, and JMP Securities, a Citizens Company is acting as financial advisor, to Monroe Cash. Blank Rome LLP is performing as legal counsel to the Company’s independent directors.
About Monroe Cash LLC
Monroe Money is a premier boutique asset administration agency specializing in private credit rating markets throughout numerous strategies, such as immediate lending, asset-dependent lending, specialty finance, opportunistic and structured credit, and fairness. Due to the fact 2004, the organization has been correctly giving money alternatives to purchasers in the U.S. and Canada. Monroe prides by itself on staying a value-added and consumer-pleasant partner to enterprise entrepreneurs, management, and each personal equity and independent sponsors. Monroe’s platform delivers a wide wide range of expense products for equally institutional and large web worth traders with a emphasis on making large high-quality “alpha” returns irrespective of organization or financial cycles. The organization is headquartered in Chicago and maintains workplaces in Atlanta, Boston, Los Angeles, Miami, Naples, New York, San Francisco, and Seoul.
Monroe has been recognized by the two its peers and traders with a variety of awards which includes Worldwide M&A Network as the 2022 Compact Mid-Marketplaces Loan provider of the Yr, Americas Private Debt Trader as the 2021 Senior Loan company of the Yr, 2021 Decrease Mid-Sector Financial institution of the 12 months, Americas Creditflux as the 2021 Greatest U.S. Immediate Lending Fund and Pension Bridge as the 2020 Private Credit Method of the 12 months. For far more information, make sure you visit www.monroecap.com.
About Horizon Know-how Finance
Horizon Technological know-how Finance Corporation (NASDAQ: HRZN) is a leading specialty finance enterprise that provides capital in the sort of secured loans to enterprise cash backed firms in the technological know-how, existence science, health care info and products and services, and sustainability industries. The financial investment objective of HRZN is to improve its investment portfolio’s return by building present earnings from the financial debt investments it tends to make and money appreciation from the warrants it gets when generating this sort of personal debt investments. Horizon Technological know-how Finance Management LLC is headquartered in Farmington, Connecticut, with a regional office environment in Pleasanton, California, and investment specialists positioned in Portland, Maine, Austin, Texas, and Reston, Virginia. To discover much more, make sure you check out www.horizontechfinance.com.
Statements provided herein may possibly constitute “forward-hunting statements” within just the indicating of the Non-public Securities Litigation Reform Act of 1995. Statements other than statements of historical points provided in this press release might represent ahead-hunting statements and are not guarantees of future efficiency, ailment or success and involve a selection of dangers and uncertainties. True outcomes may vary materially from these in the forward-wanting statements as a final result of a number of things, including those people described from time to time in the Company’s filings with the Securities and Trade Commission. Horizon undertakes no duty to update any forward-wanting statement created herein. All ahead-wanting statements speak only as of the day of this press launch.
Supplemental Info and Where by to Discover It
In relationship with the proposed transaction, Horizon Technological know-how Corporation intends to file appropriate elements with the SEC, such as a proxy statement on Program 14A (“Proxy Statement”) that will provide further details about the proposed transaction. INVESTORS AND STOCKHOLDERS ARE URGED TO Read through THE PROXY Assertion, WHEN IT Becomes Available, AND ANY OTHER Suitable Paperwork Submitted WITH THE SEC, AND ANY AMENDMENTS OR Supplements TO THESE Files, Diligently AND IN THEIR ENTIRETY Mainly because THEY WILL Have Critical Details, Amongst OTHER Things, ABOUT HORIZON Technology FINANCE Company, HORIZON Technological innovation FINANCE Management LLC, MONROE Funds LLC, AND THE PROPOSED NEW Financial investment ADVISORY Settlement. Traders and stockholders may possibly acquire these documents (and any other documents filed by the Firm with the SEC) totally free of charge at the SEC’s web site at http://www.sec.gov and from Horizon Technologies Finance Corporation’s website (www.horizon techfinance.com). Investors and stockholders may well also get no cost copies of the proxy assertion (when it gets readily available) and other documents filed with the SEC by Horizon Technology Finance Corporation free of charge by contacting Garrett Edson, Horizon Know-how Finance Corporation’s Investor Relations contact, at 860-284-6450. Traders and stockholders are urged to read the Proxy Statement and the other relevant materials when they come to be out there just before building any voting or investment decision determination with regard to the proposed new financial commitment advisory arrangement.
Participants in the Solicitation
Horizon Engineering Finance Corporation, Horizon Technologies Finance Administration LLC, and Monroe Cash LLC may be considered to be members in the anticipated solicitation of proxies from the Firm’s stockholders in link with the transaction. Information about Horizon Engineering Finance Corporation’s administrators and executive officers is offered in its definitive proxy statement for its 2022 yearly conference of stockholders filed with the SEC on April 22, 2022, and subsequent filings which the Enterprise has produced with the SEC. Facts relating to Horizon Technological know-how Finance Management LLC’s directors and officers is obtainable on its Variety ADV at the moment on file with the SEC. More thorough information and facts regarding the identification of probable participants, and their direct or oblique interests, by stability holdings or in any other case, which could be distinct than people of the Company’s stockholders typically, will be set forth in the Proxy Assertion when and it gets to be obtainable and in other appropriate elements to be filed with the SEC. These paperwork may well be acquired totally free of demand from the resources indicated previously mentioned.
Resource Horizon Technological innovation Finance Company