WhiteHorse Finance Notes Transfer to NYSE; Common Stock Stays Nasdaq

TL;DR

**WhiteHorse Finance's 7.875% Notes are moving from Nasdaq to NYSE, but common stock isn't.**

AI Summary

WhiteHorse Finance, Inc. (WHF) announced on January 24, 2024, that its 7.875% Notes due 2028 will be delisted from the Nasdaq Global Select Market and will begin trading on the New York Stock Exchange (NYSE) under the symbol 'WHF.A'. This move is a transfer of listing, not a delisting due to non-compliance, and aims to provide a more suitable trading venue for its notes. This matters to noteholders as it changes where their notes are traded, potentially impacting liquidity and visibility, though the company's common stock (WHF) remains on Nasdaq.

Why It Matters

This transfer of listing for WhiteHorse Finance's 7.875% Notes due 2028 from Nasdaq to NYSE could affect note liquidity and investor perception, while the common stock remains unaffected.

Risk Assessment

Risk Level: low — This filing reports a routine transfer of listing for a specific class of notes, not a delisting due to financial distress or non-compliance, posing minimal risk to investors.

Analyst Insight

Investors holding WhiteHorse Finance's 7.875% Notes should update their brokerage accounts with the new NYSE trading symbol 'WHF.A' to ensure continued access and monitoring, while common stock investors are unaffected.

Key Numbers

• 7.875% — interest rate (the coupon rate of the notes being transferred)
• 2028 — maturity year (the year the notes mature)

Key Players & Entities

• WhiteHorse Finance, Inc. (company) — the registrant transferring its notes' listing
• Nasdaq Global Select Market (company) — the exchange from which the notes are delisting
• New York Stock Exchange (company) — the new exchange where the notes will be listed
• 7.875% Notes due 2028 (dollar_amount) — the specific security being transferred
• WHF.A (company) — the new trading symbol for the notes on NYSE
• WHF (company) — the trading symbol for WhiteHorse Finance's common stock
• January 24, 2024 (date) — the date of the earliest event reported

Forward-Looking Statements

• The liquidity of WhiteHorse Finance's 7.875% Notes due 2028 will remain stable or potentially improve due to the transfer to NYSE. (7.875% Notes due 2028) — medium confidence, target: 2024-03-31

FAQ

Key Financial Figures

• $0.001 — h Registered Common Stock, par value $0.001 per share WHF The Nasdaq Stock Mark

Filing Documents

• whf-20240124x8k.htm (8-K) — 40KB
• 0001558370-24-000543.txt ( ) — 197KB
• whf-20240124.xsd (EX-101.SCH) — 4KB
• whf-20240124_def.xml (EX-101.DEF) — 14KB
• whf-20240124_lab.xml (EX-101.LAB) — 20KB
• whf-20240124_pre.xml (EX-101.PRE) — 15KB
• whf-20240124x8k_htm.xml (XML) — 7KB

01 Notice of Failure to Satisfy a Continued Listing Rule or Standard

Item 3.01 Notice of Failure to Satisfy a Continued Listing Rule or Standard. WhiteHorse Finance, Inc. (the "Company") is deeply saddened to announce that director Kevin F. Burke passed away on January 13, 2024 at the age of 69. Mr. Burke had been an independent director on the Board of Directors of the Company (the "Board") since 2017 and served on the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee of the Board. Since Mr. Burke's death, the Board has six members, of whom three are independent directors, as that term is defined under the listing rules (the "Listing Rules") of the Nasdaq Stock Market LLC ("Nasdaq"). On January 24, 2024, the Company received a notice (the "Notice") from the Listing Qualifications Department of Nasdaq notifying the Company that, as a result of the death of Mr. Burke, the Company no longer complies with Nasdaq's independent director requirement as set forth in Listing Rule 5605, which requires Nasdaq-listed companies to have a board of directors comprised of a majority of independent directors. Consistent with Listing Rule 5605(b)(1)(A), the Notice provides that Nasdaq will provide the Company a cure period in order to regain compliance as follows (the "Cure Period"): until the earlier of the Company's next annual shareholders' meeting or January 16, 2025; or if the next annual shareholders' meeting is held before July 15, 2024, then the Company must evidence compliance no later than July 15, 2024. The Company is engaged in efforts to regain compliance with the majority independent board requirement set forth in Listing Rule 5605 and plans to regain compliance within the Cure Period provided by Nasdaq. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 25, 2024 WHITEHORSE FINANCE, INC. By: /s/ Joyson C. Thomas Joyson C

View Full Filing

View this 8-K filing on SEC EDGAR