m_and_a
confidence high
sentiment neutral
materiality 0.80
Horizon Tech Finance to acquire Monroe Capital Corp in stock merger; portfolio sale to MCIP
Horizon Technology Finance Corp
- HRZN to merge with MRCC; MRCC portfolio sold to MCIP for cash prior to merger close.
- Based on June 30 NAV, HRZN issues ~24.6M shares; pro forma ownership 63.1% HRZN / 36.9% MRCC.
- HRZN expects ~$165M cash proceeds from Asset Sale upon closing.
- Transaction requires stockholder approvals of HRZN and MRCC, plus customary closing conditions.
- Termination fee of $10.8M payable by alternative acquiror under certain circumstances.
item 8.01