Horizon Tech Finance issues $20M of 7.125% Convertible Notes due 2031

Horizon Technology Finance Corp

Issued $20M aggregate principal amount of 7.125% Convertible Notes maturing Oct 17, 2031.
Net proceeds of ~$18.6M (93% of par); used for investments and general corporate purposes.
Notes convertible after Apr 17, 2025; conversion price = greater of 5-day VWAP or NAV per share.
Notes are unsecured; rank senior to subordinated debt, structurally junior to subsidiary debt.
Additional 1% interest if rating falls below investment grade; 2% on overdue payments or default.

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