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Security Details
- Coupon Rate
- 4.88%
- Liquidation Preference
- $25.00
- Call Price
- $25.00
- Call / Redemption Date
- 12/31/2023
- Maturity Date
- 12/31/2026
- Distribution Period
- Q
- Rate Type
- Fixed
- Annual Distribution
- 1.21875
- Distribution Dates
- 3/31, 6/30, 9/30 & 12/31
- Credit Ratings
- Moody's NR · S&P NR (4/18/2025)
- Tax-Advantaged Dividends
- No
Security Profile
Security has been called for June 30, 2026.
- CUSIP
- 425885209
- Market Cap
- Micro Cap
- IPO
- 10/14/2021 · $25.00/share
- Parent Company
- Hennessy Advisors, Inc. (HNNA)
Business: Hennessy Advisors, Inc. 4.875% Notes Due 2026, redeemable at the issuer's option on or after 12/31/2023 at $25 per note plus accrued and unpaid interest, and maturing 12/31/2026. <p> Interest distributions of 4.875% per annum ($1.21875 per annum or $0.3046875) per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be (NOTE: the ex-dividend date is one business day prior to the record date). <p> Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. <p> Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. <p> The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: On May 28, 2026, Hennessy Advisors, Inc. (the “Company”) delivered a notice of full redemption (the “Notice”) to the trustee of the Company’s outstanding 4.875% notes due 2026 (the “Notes”), pursuant to the indenture governing the terms of the Notes. The Notes are listed on The Nasdaq Stock Market and trade under the symbol “HNNAZ.”<p>
As of the date of the Notice, the aggregate outstanding principal amount of the Notes is $40.25 million. The Notice calls for the redemption of the outstanding Notes (the “Redemption”) on June 30, 2026 (the “Redemption Date”) at a redemption price equal to 100% of the outstanding principal amount of the Notes, plus accrued and unpaid interest to, but not including, the Redemption Date (the “Redemption Price”).<p>
On the Redemption Date, the applicable Redemption Price will become due and payable in respect of the Notes and interest on the Notes will cease to accrue on and after the Redemption Date to the extent that the Company does not default in the payment of the applicable Redemption Price. Following the completion of the Redemption, no Notes will remain outstanding and the Notes will cease to be listed on The Nasdaq Stock Market.
Company Contact
- CEO
- Neil J Hennessy
- CFO
- Kathryn R. Fahy
- Headquarters
- 7250 Redwood Blvd., Suite 200, Novato, CA 94945
- Phone
- 415-899-1555 · Toll-Free 800-966-4354
- Fax
- 415-899-1559
- Investor Relations
- Daniel B. Steadman · 415-899-1555 · steady@hennessyadvisors.com