Horizon Tech completes MRCC merger; issues 20.37M shares, receives $141.1M cash

Horizon Technology Finance Corp

Each MRCC share exchanged for 0.9402 HRZN share; legacy MRCC holders own 29.86% of combined company.
Combined pro forma net assets of ~$471.7M including ~$141.1M cash from MRCC asset sale.
HTFM agreed to waive up to $4M in management/incentive fees over four quarters starting Q3 2026.
Board reduced to 4 directors; Thomas Allison, former MRCC independent director, appointed.
Horizon affirms $10M stock repurchase program (trading below 90% NAV), expires June 2026.

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