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