BUZZ-Monroe Capital jumps on merger deal with Horizon Technology Finance
Reuters
Aug 08
BUZZ-Monroe Capital jumps on merger deal with Horizon Technology Finance
** Specialty finance firm Monroe Capital Corp's MRCC.O shares jump 11.7% to $6.97 premarket
** MRCC announced late on Thursday it will merge with Horizon Technology Finance HRZN.O, another business development company under Monroe Capital umbrella
** HRZN and MRCC are both affiliates of asset management firm Monroe Capital
** MRCC shareholders will receive HRZN shares equivalent to the net asset value of MRCC shares
** Raymond James analyst Robert Dodd says the transaction could be value creating for MRCC shareholders given HRZN trades at a materially higher price-to-net asset value (P/NAV) valuation than MRCC
** As of last close, MRCC stock down 26.6% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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