Horizon Bancorp's Strategic Offering Boosts Financial Position

Horizon Bancorp, Inc. Announces Common Stock Offering Pricing

Horizon Bancorp, Inc. (NASDAQ: HBNC), the parent company of Horizon Bank, has recently disclosed the pricing of its public offering of 6,207,000 shares of common stock. Priced at $14.50 per share, this initiative is set to generate gross proceeds of approximately $90 million before accounting for underwriting discounts and offering expenses.

Details of the Offering

In addition to the initial offering, Horizon has empowered underwriters with a 30-day option to acquire an additional 931,050 shares at the same public offering price, providing them with flexibility and potential for increased revenue.

Utilization of Proceeds

The organization aims to utilize the net proceeds from this public offering for general corporate purposes, particularly in enhancing its balance sheet. This strategic move underscores Horizon's commitment to maintaining a solid financial foundation during uncertain times.

Management of the Offering

Keefe, Bruyette & Woods, Inc., a Stifel Company, along with Performance Trust Capital Partners, LLC, are leading this offering as joint book-running managers. Their expertise in financial services helps ensure a smooth and successful transaction process.

Closing Anticipation

Horizon anticipates that this offering will conclude, subject to customary closing conditions, in the near future, solidifying its position in the market.

Important Information About the Offering

The common stock offering is underpinned by a shelf registration statement that has been filed with and approved by the Securities and Exchange Commission (SEC). Interested investors should ensure they consult the final prospectus supplement and accompanying prospectus for comprehensive insights into the offering and its implications.

Understanding Horizon Bancorp, Inc.

With a robust asset base of approximately $7.7 billion, Horizon Bancorp, Inc. operates as a commercial bank holding company. Its services are tailored to meet the needs of customers within diverse Midwestern markets, aptly utilizing cutting-edge digital and virtual tools. The bank’s offerings encompass a broad selection of retail banking services, including secured consumer lending and a suite of personal banking and wealth management solutions.

Business Banking and Treasury Solutions

Horizon is positioned to provide a wide array of business banking and treasury management services tailored for regional and national customers. Commercial lending constitutes over half of Horizon’s total loan portfolio, showcasing the bank's commitment to supporting businesses in its operational areas.

Investor Relations and Contact Information

For investors and potential partners seeking information, John R. Stewart, the Chief Financial Officer, can be reached for inquiries. Horizon Bancorp emphasizes transparency and accessibility to its investor community. Interested parties can contact him via phone at (219) 814-5833.

Frequently Asked Questions

What is Horizon Bancorp's recent offering?

Horizon Bancorp announced a public offering of 6,207,000 shares of common stock, priced at $14.50 each.

How much can Horizon expect to raise from the offering?

The offering is projected to raise approximately $90 million before deducting underwriting expenses.

What will the proceeds be used for?

The proceeds will be utilized for general corporate purposes, including strengthening Horizon's balance sheet.

Who are managing this stock offering?

Keefe, Bruyette & Woods, Inc., along with Performance Trust Capital Partners, LLC, are acting as the joint book-running managers.

How can investors learn more about the offering?

Investors should refer to the SEC filings for comprehensive details regarding the offering and the final prospectus supplement.

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