
Specialty finance firm Monroe Capital Corp's MRCC.O shares jump 11.7% to $6.97 premarket
MRCC announced late on Thursday it will merge with Horizon Technology Finance HRZN.O, another business development company under Monroe Capital umbrella
HRZN and MRCC are both affiliates of asset management firm Monroe Capital
MRCC shareholders will receive HRZN shares equivalent to the net asset value of MRCC shares
Raymond James analyst Robert Dodd says the transaction could be value creating for MRCC shareholders given HRZN trades at a materially higher price-to-net asset value (P/NAV) valuation than MRCC
As of last close, MRCC stock down 26.6% YTD