Hennessy Advisors closes $40.25M 4.875% notes due 2026; net proceeds ~$39M for acquisitions or buybacks

HENNESSY ADVISORS INC

Completed offering of $40.25M aggregate principal of 4.875% Notes due 2026, including full exercise of underwriters' option for $5.25M.
Net proceeds of ~$39M after underwriting discounts; use for acquisitions, share repurchases or general corporate purposes.
Notes priced at 100%, interest payable quarterly, mature Dec 31, 2026; redeemable at company's option after Dec 31, 2023.
Received investment-grade rating 'A' from Egan-Jones; notes to trade on Nasdaq under symbol HNNAZ within 30 days.
Pro forma balance sheet shows cash of $52.5M, total assets $138.3M post-offering.

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