Horizon Bancorp launches underwritten public stock offering

Horizon Bancorp, Inc. (NASDAQ: HBNC) announced it has launched an underwritten public offering of its common stock. The Michigan City, Indiana-based bank holding company expects to grant underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering.

The company plans to use net proceeds for general corporate purposes, including potential balance sheet repositioning. Horizon operates as the parent company of Horizon Bank and manages $7.7 billion in assets.

Keefe, Bruyette & Woods, Inc., A Stifel Company and Performance Trust Capital Partners, LLC serve as joint book-running managers for the offering.

The offering operates under a shelf registration statement on Form S-3 that was filed with and declared effective by the Securities and Exchange Commission. A preliminary prospectus supplement has been filed with the SEC, with a final prospectus supplement and accompanying prospectus to be filed subsequently.

Horizon Bank serves customers across Midwestern markets through digital tools and branches in Indiana and Michigan. The bank provides residential and consumer lending, personal banking, wealth management, business banking, and treasury management services. Commercial lending represents more than half of total loans, with equipment financing solutions offered regionally and nationally.

The press release stated this announcement does not constitute an offer to sell or solicitation of an offer to buy securities, noting that sales would be unlawful in jurisdictions without proper registration or qualification under applicable securities laws.

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