NEW YORK, Dec. 8, 2020 /PRNewswire/ — WhiteHorse Finance, Inc. (“WhiteHorse Finance” or the “Firm”) (Nasdaq: WHF) nowadays issued the following assertion with regards to the latest possession transfer of widespread shares held by cash affiliated by H.I.G. Cash:
“On December 7, 2020, H.I.G. Bayside Credit card debt & LBO Fund II, L.P. and H.I.G. Bayside Bank loan Prospect Fund II, L.P. (the “Legacy Bayside Funds”), cash affiliated with and managed by H.I.G. Cash, agreed to provide their collective ownership interests in WhiteHorse Finance, comprised of 4,863,172 shares of the Company’s frequent stock, to H.I.G. Bayside Bank loan Opportunity Fund IV, L.P. (“Bayside Fund IV”), which is also affiliated with and managed by H.I.G. Funds. The terms of the arrangement had been not disclosed.
The transaction will transfer 2,679,622 shares from H.I.G. Bayside Financial debt & LBO Fund II, L.P. and 2,183,550 shares from H.I.G. Bayside Financial loan Opportunity Fund II, L.P. to Bayside Fund IV. It is anticipated that Bayside Fund IV would have the capacity to have these common shares for a least of 3 decades.
Considering that March 31, 2019, the Legacy Bayside Funds, collectively, WhiteHorse Finance’s premier shareholder, have offered about half of their situation in WhiteHorse Finance to the community marketplaces, decreasing their holdings from 51.25% of shares exceptional to 23.67% as of September 30, 2020.
This reduction in the Legacy Bayside Funds’ placement since 2019 was built subsequent considerable input from WhiteHorse Finance shareholders with the intention of increasing liquidity in the Company’s shareholder base.
The announced share transfer was executed because of to the Legacy Bayside Resources reaching the finish of their conditions the Legacy Bayside Money have held shares of WhiteHorse Finance given that the Firm’s IPO in 2012. The transfer does not preclude Bayside Fund IV from providing further shares of WhiteHorse Finance to the general public marketplaces in the long run.”
About WhiteHorse Finance, Inc.
WhiteHorse Finance, Inc. is a small business improvement enterprise that originates and invests in financial loans to privately held, decrease center marketplace businesses throughout a broad array of industries. The Company’s expenditure pursuits are managed by its expenditure adviser, H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Cash, LLC (“H.I.G. Money”). H.I.G. Capital is a main global choice asset manager with approximately $42 billion of cash less than management* throughout a range of resources focused on the compact and mid-cap markets. For far more info about H.I.G. Funds, be sure to visit http://www.higcapital.com. For additional information about the Business, remember to visit http://www.whitehorsefinance.com.
Forward-Looking Statements
This press launch may incorporate “ahead-searching statements” within the which means of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historic info bundled in this push release may perhaps represent forward-looking statements and are not assures of foreseeable future efficiency or effects and contain a selection of threats and uncertainties. Precise benefits may well vary materially from individuals in the forward-seeking statements as a result of a range of elements, such as all those explained from time to time in filings with the Securities and Exchange Fee. The Enterprise undertakes no responsibility to update any forward-seeking assertion created herein. All ahead-wanting statements talk only as of the date of this push launch.
* Primarily based on complete funds commitments managed by H.I.G. Capital and affiliates.
Contacts
Stuart Aronson
WhiteHorse Finance, Inc.
212-506-0500
[email protected]
Joyson Thomas
WhiteHorse Finance, Inc.
305-379-2322
[email protected]
Sean Silva
Prosek Associates
646-818-9122
[email protected]
Supply WhiteHorse Finance, Inc.
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