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Horizon Technology Finance Corporation Announces Monroe Capital’s Agreement to Acquire Horizon Technology Finance Management

Horizon Technology Finance Corporation Announces Monroe Capital’s Agreement to Acquire Horizon Technology Finance Management

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.

Forward-Searching Statements

 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.

Contacts:

Investor Relations:
ICR
Garrett Edson
[email protected] 
(860) 284-6450

Media Relations:
ICR
Chris Gillick
[email protected]
(646) 677-1819

Resource Horizon Technological innovation Finance Company

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Finance of America to Acquire Assets of Reverse Mortgage Lender AAG

Finance of America to Acquire Assets of Reverse Mortgage Lender AAG

PLANO, Texas–(Business enterprise WIRE)–Finance of The usa Providers Inc. (NYSE: FOA) (“FOA” or the “Company”), a primary specialty finance and methods system, today announced it will obtain assets of American Advisors Team (“AAG”), a leading direct-to-purchaser reverse house loan loan company, in trade for a mixture of cash and equity. The transaction underscores FOA’s determination to make investments in businesses that have solid development likely with structural and demographic tailwinds.

Commenting on bringing AAG’s direct-to-consumer retail channel below the FOA umbrella, Graham A. Fleming, FOA President and Interim Main Executive Officer, stated, “We consider home fairness will be an more and more important asset for People to think about in get to dietary supplement their incomes, especially in retirement. We are assured that our enlargement into this direct-to-purchaser retail channel will position us to more educate, mature and support this market while driving enhanced price and chances for our shoppers, personnel, associates and buyers.”

On completion of the deal, which is predicted to be accretive to each Tangible E-book Benefit and Earnings For each Share, FOA’s subsidiary, Finance of The usa Reverse LLC, will function a separate direct-to-shopper retail channel under the manufacturer title AAG, whose ads now achieve around 10 million people each year in a variety of approaches, which includes the use of superstar spokesperson Tom Selleck. The transaction is expected to near in the initial fifty percent of 2023, topic to customary closing situations and regulatory approvals.

In support of this transaction, existing stockholders of the Corporation, together with entities affiliated with Brian L. Libman, the Company’s chairman and founder, have dedicated to make investments an supplemental $30 million of capital into the Firm by means of a private placement of FOA’s common stock. The financial commitment is conditioned upon customary closing conditions, together with the closing of the AAG transaction.

Kristen Sieffert, President of Finance of The usa Reverse, explained, “This is an very thrilling day for our organizations and in the long run all those we serve. By complementing FAR’s believed management and innovation with AAG’s unmatched investments in purchaser consciousness, we are strengthening a motion to alter society’s retirement trajectory for the improved and bringing FOA nearer to its objective of aiding far more People in america thrive.”

Further facts of the transaction can be observed in the Existing Report on Variety 8-K that has been concurrently filed by FOA with the SEC.

About Finance of America

Finance of The usa (NYSE: FOA) is a specialty finance purchaser lending platform that gives pathways to reach increased monetary liberty by means of property equity. By way of FOA’s subsidiaries, prospects have access to a varied assortment of flexible, conclusion-to-conclusion dwelling financing and house equity remedies including residence advancement loans and reverse home loans as perfectly as loans to residential serious estate traders dispersed throughout retail, 3rd-get together community, and digital channels. In addition, FOA’s companies offer you complementary lending expert services to enrich the buyer encounter, as effectively as money markets and portfolio administration abilities to optimize distribution to investors. FOA is headquartered in Plano, TX. For extra data, please pay a visit to www.financeofamerica.com.

Ahead Looking Statements

This press release includes ahead-hunting statements inside of the that means of the Private Securities Litigation Reform Act of 1995. Ahead-searching statements are not historical points or statements of latest conditions, but rather stand for only management’s beliefs regarding foreseeable future occasions, a lot of of which, by their nature, are inherently unsure and outside of the Company’s control. These statements are matter to challenges, uncertainties, assumptions and other critical factors, together with people set forth in the section entitled “Risk Factors” integrated in our Annual Report on Kind 10-K for the year finished December 31, 2021, submitted with the Securities and Trade Commission (the “SEC”) on March 15, 2022, as these types of elements might be amended and updated from time to time in the Company’s subsequent periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Viewers are cautioned not to place undue reliance on these kinds of forward-seeking statements simply because genuine results may fluctuate materially from those people expressed or implied. The Firm assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-on the lookout statements, whether as a outcome of new details, foreseeable future occasions or or else.

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Viterra to acquire Gavilon for $1.1 billion

Viterra to acquire Gavilon for .1 billion

ROTTERDAM, THE NETHERLANDS — Viterra Ltd. introduced it has achieved an settlement to purchase a lot of of the property of Omaha, Nebraska, US-centered Gavilon from Marubeni Corp. for $1.125 billion, furthermore doing the job cash.

Gavilon originates, retailers and distributes grains, oilseeds, as effectively as feed and foodstuff substances, to food items manufacturers, livestock producers, poultry processors, soybean processors and ethanol producers throughout the world. The firm has 105 grain storage amenities and complete grain storage potential of 345.447 million bus, according to Sosland Publishing’s Grain & Milling Yearly 2022.

Gavilon was proven in 2008 with the sale by Conagra Foods Inc. of its Trading and Merchandising small business to Ospraie Management LLC Special Prospects Fund in a $2.1 billion transaction. With the sale, the small business was renamed Gavilon LLC. The organization was afterwards obtained by Marubeni for $2.7 billion in 2013.

These days, Gavilon’s asset community is positioned in important increasing regions across the United States, with accessibility to main railroads, rivers and ports. It also has intercontinental operations in Mexico, South The us, Europe and Asia, along with an indirect minority possession curiosity in two port terminals found in Kalama, Wash., and Portland, Ore.

According to Marubeni, the transaction will not include things like eight grain elevators held and operated by Gavilon in the northern United States. Individuals elevators will be transferred to Columbia Grain International, a subsidiary of Marubeni. In addition, portion of the equity interest of Kalama Holdco, LLC, a joint enterprise grain export terminal small business on the US West Coast that is held by Gavilon, will be transferred to Columbia Grain Worldwide. Gavilon’s fertilizer enterprise also is not included in the transaction and will be transferred to Marubeni America Corp.

“The addition of Gavilon supports our prolonged-term approach of drastically escalating our existence in the United States, 1 of the main developing and exporting locations, which will further improve our international network,” reported David Mattiske, chief govt officer of Viterra Ltd. “The mix of the Gavilon and Viterra origination companies will help us to give additional worth and adaptability to our consumers. We will be ready to fast enhance our sustainable source chains, give greater amounts of excellent regulate and trustworthiness, whilst creating thrilling prospects for our shoppers and personnel.

“We seem ahead to welcoming the workforce of Gavilon to the Viterra team, and further strengthening the prosperous enterprise and industrial interactions Gavilon has developed with producers and consumers.”

Peter Mouthaan, main money officer at Viterra, reported the transaction demonstrates “the continued aid of our shareholders to execute on alternatives that produce considerable expansion for our organization, while sustaining a robust harmony sheet.”

Viterra is the crop buying and selling company spun out of Glencore back in November 2020. Viterra has a lot more than 17,500 workforce operating in 37 countries, and its community of storage, processing and transport property connects producers and individuals to source sustainable, traceable and top quality-managed agricultural solutions. In accordance to the Grain & Milling Once-a-year 2022, Viterra has a complete of 85 grain storage services with a full storage ability of 120.36 million bus in North The usa.

Marubeni reported the conclusion to sell Gavilon’s grain business followed re-evaluations of its grain business enterprise approaches and aims and mirrored the uptrend in the grain supply industry and Gavilon’s very good results not too long ago. As component of its put up-divestiture technique, Marubeni explained it is “looking to boost the means of its grain enterprise to meet demand for grain in the Asian marketplace, primarily Japan, a emphasis spot for the company.”

“To attain this, Marubeni will function to more bolster its grain business’s trade stream based mostly on its grain managing functions in the northwest United States, and exportation from the PNW as its two key strengths,” Marubeni stated. “Moreover, in response to heightened customer recognition and issue above well being and environmental concerns, Marubeni is concentrating on reinforcing the handling of specialty crops, as nicely as producing its processing and downstream enterprises. Marubeni has positioned the eight grain elevators in the northern United States, and equity interest in the JV grain export terminal business in the PNW that are to be transferred to CGI, as the focal details within just the abovementioned method.”

The transaction is anticipated to close in the next half of 2022.

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Neogen to acquire 3M’s food safety business | 2021-12-14

Neogen to acquire 3M’s food safety business | 2021-12-14

LANSING, MICH. — Neogen Corp. is acquiring 3M’s food safety business. The acquisition will be in the form of a Reverse Morris Trust where 3M’s food safety business will be spun-off to 3M shareholders and then merged with a subsidiary of Neogen.

At the completion of the transaction, Neogen will issue shares to 3M shareholders such that 3M shareholders will receive approximately 50.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the combined company and existing Neogen shareholders will continue to own approximately 49.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the combined company. In connection with the transaction, 3M also will receive consideration valued at approximately $1 billion, subject to closing and other adjustments.

The transaction values 3M’s food safety business at approximately $5.3 billion. Once completed, the combined business is expected to have a value of $9.3 billion based on Neogen’s closing share price as of Dec. 13.

“This combination will enhance Neogen’s position in this new era of food security, equipping us with an expanded product line that enables us to capitalize on our growing footprint, reaching more customers, more often, while continuing our track record of strong and consistent growth,” said John Adent, Neogen’s president and chief executive officer. “The heightened global focus on food security, sustainability and supply chain solutions around the world presents exciting opportunities for Neogen to be positioned as an innovative leader at the forefront of the growth and digitization of the industry.”

Specifically, Neogen said the merger will expand its capabilities in indicator testing and pathogen detection. It also will expand Neogen’s opportunities beyond the US and Europe and give the company greater capabilities to lead the digitization of the food security industry.

Mr. Adent and the company’s existing management team will lead the combined company. The size of Neogen’s board of directors will be increased by two independent board members appointed by 3M at the closing.

“By combining our food safety business with Neogen, we will create an organization well positioned to capture long-term profitable growth,” said Mike Roman, CEO of 3M. “This transaction further evolves our strategy, focuses our health care business and benefits our stakeholders, as we actively manage our portfolio to drive growth and deliver shareholder value.”

The transaction is expected to close by the end of the third quarter of 2022.