Hennessy Advisors, Inc. Announces Notes Offering

October 12, 2021, Novato, CA – Hennessy Advisors, Inc. (the “Company”) (NASDAQ: HNNA) today announced that it was commencing an underwritten public offering of unsecured notes due 2026 (the “2026 Notes”). Oppenheimer & Co. Inc. is acting as book-running manager for the offering, and Janney Montgomery Scott LLC is acting as co-manager. 

The Company expects the 2026 Notes to be listed on Nasdaq under the trading symbol HNNAZ and to trade on Nasdaq within 30 days from the original issue date. The interest rate and other terms of the 2026 Notes will be determined by negotiations between the Company and the underwriters.

The Company expects to use the net proceeds from the offering for general corporate purposes, which may include future acquisitions or repurchase of shares of the Company’s outstanding common stock pursuant to a self-tender offer.

A registration statement relating to the 2026 Notes has been filed with the Securities and Exchange Commission (the “SEC”), but has not yet become effective.  These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. The offering will be made only by means of a prospectus, copies of which may be obtained, when available, from:

Oppenheimer & Co. Inc.
85 Broad Street
New York, New York 10004
[email protected]

Supplemental Information This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Hennessy Advisors, Inc. Hennessy Advisors, Inc. is a publicly traded investment manager offering a broad range of domestic equity, multi-asset, and sector and specialty mutual funds as well as exchange-traded funds (ETFs). Hennessy Advisors, Inc. is committed to providing superior service to shareholders and employing a consistent and disciplined approach to investing based on a buy and hold philosophy that rejects the idea of market timing.

Forward-Looking Statements This press release contains “forward-looking statements” for which Hennessy Advisors, Inc. claims the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to expectations and projections about future events based on currently available information. Forward-looking statements are not a guarantee of future performance or results and are not necessarily accurate indications of the times at which, or means by which, such performance or results may be achieved. Forward-looking statements are subject to risks, uncertainties, and assumptions, including those described in the sections entitled “Risk Factors” and elsewhere in the reports that Hennessy Advisors, Inc. files with the Securities and Exchange Commission. Unforeseen developments could cause actual performance or results to differ substantially from those expressed in, or suggested by, the forward-looking statements. Hennessy Advisors, Inc. management does not assume responsibility for the accuracy or completeness of the forward-looking statements and undertakes no responsibility to update any such statement after the date of this press release to conform to actual results or to changes in expectations.