Item 1.01 Entry into a Material Definitive Agreement
On June 29, 2020, Horizon Technology Finance Corporation (the "Company") through
its wholly owned subsidiary, Horizon Credit II LLC ("Credit II"), entered into
an amendment (the "Amendment") to the Amended and Restated Loan and Security
Agreement, dated as of November 4, 2013 (the "Credit Facility") with KeyBank
National Association. The Amendment, among other things, (1) extended the draw
period of the Credit Facility to September 30, 2021, (2) replaced Cadence Bank
NA with Hitachi Capital America (by way of merger with State Bank and Trust
Company) as a lender under the Credit Facility, (3) increased the LIBOR rate
floor from 0.75% to 1.00% and (4) provided a mechanism to determine a successor
reference rate to LIBOR if, among other things, LIBOR becomes unavailable or is
generally replaced as a benchmark interest rate in the market.
The description of the documentation related to the Credit Facility contained in
this Current Report on Form 8-K is only a summary of the material terms of the
Amendment and is qualified in its entirety by the terms of the Amendment filed
as Exhibit 10.1 hereto, which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit
No. Description
10.1 Seventh Amendment to the Amended and Restated Loan and Security
Agreement, dated as of June 29, 2020, among Horizon Credit II LLC, as
borrower, the Lenders party thereto, and KeyBank National Association,
as arranger and agent.
2
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