Horizon Bancorp, Inc. has announced the closing of its previously announced underwritten public offering of 7,138,050 shares of its common stock, including 931,050 shares sold pursuant to the underwriters' option to purchase additional shares, which was exercised in full. The offering was priced at $14.50 per share, resulting in aggregate gross proceeds of approximately $103.5 million before deducting underwriting discounts and estimated offering expenses.
The net proceeds from the offering are intended to be used for general corporate purposes, including in support of the potential repositioning of Horizon's balance sheet.
As of June 30, 2025, Horizon Bancorp, Inc. is a $7.7 billion-asset commercial bank holding company for Horizon Bank. The company serves customers across diverse and economically attractive Midwestern markets through digital and virtual tools, as well as its branches in Indiana and Michigan. Horizon's retail offerings include prime residential and other secured consumer lending, personal banking, wealth management solutions, business banking, treasury management services, and equipment financing solutions for customers regionally and nationally.
Keefe, Bruyette & Woods, Inc., a Stifel company, and Performance Trust Capital Partners, LLC acted as joint book-running managers for the offering.
The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-282292) that was filed with and declared effective by the Securities and Exchange Commission (SEC).
For more information on Horizon Bancorp, Inc., visit horizonbank.com and investor.horizonbank.com. The market has reacted to these announcements by moving the company's shares 3.37% to a price of $15.65. For the full picture, make sure to review HORIZON BANCORP INC /IN/'s 8-K report.
