NOVATO, Calif., Oct. 12, 2021 /PRNewswire/ -- 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
FixedIncomeProspectus@opco.com
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. 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.
Supplemental Information
Nothing in this press release
shall be considered a solicitation to buy or an offer to sell a
security to any person in any jurisdiction where such offer,
solicitation, purchase, or sale would be unlawful under the
securities laws of such jurisdiction.
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 SEC. 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.
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SOURCE Hennessy Advisors, Inc.