WhiteHorse Finance Raises $100 Million in IPO
WhiteHorse Finance (NAS: WHF) announced today that it has successfully floated 6,666,667 shares of common stock at an initial public offering price of $15 per share, raising $100 million in new capital before fees and other costs.
The firm could bring in additional money if underwriters exercise their option to purchase an additional 1 million shares of common stock in the next 30 days.
WhiteHorse, which operates as a business development company loaning money to privately held small-cap companies and profiting from the proceeds, says it will use the capital raised for making just such loans, as well as for general corporate purposes.
The company's stock is expected to begin trading on the Nasdaq Global Select Market index under ticker symbol "WHF" today.
The article WhiteHorse Finance Raises $100 Million in IPO originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.