secwatch.observer — SEC 8-K summary
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Issuer:     HENNESSY ADVISORS INC (HNNA)
CIK:        0001145255
Form:       8-K
Filed at:   2021-10-20T23:59:59+00:00
Accession:  0001104659-21-128080
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1145255/000110465921128080/0001104659-21-128080-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1145255/000110465921128080/tm2128106d13_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-128080

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