WhiteHorse Finance, Inc. (NASDAQ: WHF; NASDAQ: WHFBL) announced today that it has priced an underwritten primary offering of 2,200,000 shares of its common stock at a public offering price of $13.97 per share, which will result in net proceeds to the Company of approximately $30.2 million. The Company's investment adviser has agreed to bear a portion of the underwriting discounts and commissions in connection with the offering of shares by the Company, which will result in net proceeds to the Company at or above net asset value per share. The Company is not obligated to repay any of the amounts paid by the investment adviser. In addition, in connection with this proposed offering, two stockholders of the Company, H.I.G. Bayside Debt & LBO Fund II, L.P. and H.I.G. Bayside Loan Opportunity Fund II, L.P. (the "Bayside Funds"), have granted the underwriters a 30-day option to purchase up to an additional 330,000 shares of common stock to cover overallotments, if any. The shares are expected to be delivered to investors on June 30, 2017, subject to customary closing conditions.
The Company intends to use all or substantially all of the net proceeds from the offering of its common stock to invest primarily in senior secured debt investments in lower middle market companies in accordance with its investment objective and for general corporate purposes. The Company will not receive any proceeds for the sale of shares of its common stock offered by the Bayside Funds.
Deutsche Bank Securities, J.P. Morgan and Baird are acting as joint book-running managers for the offering. BB&T Capital Markets, Oppenheimer & Co. and Wunderlich are acting as co-managers for the offering.
About WhiteHorse Finance, Inc.
WhiteHorse Finance is a business development company that originates and invests in loans to privately held lower middle market companies across a broad range of industries. The Company's investment activities are managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, LLC ("H.I.G. Capital"). H.I.G. Capital is a leading global alternative asset manager with $21 billion of capital under management* across a number of funds focused on the lower middle market.
