Horizon Bancorp Prices $90M Stock Offering Of 6.2M Shares At $14.50 A Share

Horizon Bancorp, Inc. (NASDAQ:HBNC) ("Horizon"), the parent company of Horizon Bank, today announced the pricing of the previously announced underwritten public offering of 6,207,000 shares of its common stock (the "Offering"), at a price to the public of $14.50 per share for aggregate gross proceeds of approximately $90,001,500 before deducting underwriting discounts and estimated offering expenses.

In addition, Horizon has granted the underwriters a 30-day option to purchase up to an additional 931,050 shares of its common stock at the public offering price, less underwriting discounts and commissions.

Horizon intends to use the net proceeds from the Offering for general corporate purposes, including in support of the potential repositioning of its balance sheet.