Horizon Technology Finance Announces Monthly Distributions for October, November and December 2022 Totaling $0.30 per Share

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Horizon Technology Finance Corporation (NASDAQ: HRZN) has declared monthly cash distributions of $0.10 per share for October, November, and December 2022, totaling $0.30 per share. This decision follows a comprehensive review of taxable income estimates by the board of directors. Since its IPO in 2010, Horizon has distributed approximately $190 million to shareholders. Additionally, a Dividend Reinvestment Plan (DRIP) allows stockholders to reinvest distributions into common stock.

Positive

• Declared monthly cash distributions of $0.10 per share for Q4 2022, totaling $0.30.
• Since IPO in 2010, has paid $190 million in total distributions to shareholders.

Negative

• None.

FARMINGTON, Conn., Aug. 2, 2022 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon") (the "Company"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today that its board of directors has declared monthly cash distributions of $0.10 per share payable in each of October, November and December 2022. The following table shows these monthly distributions, payable as set forth in the tables below, total $0.30 per share. Since its 2010 initial public offering, Horizon has paid a total of $190 million in distributions to its shareholders.

 

Monthly Distributions Declared in Third Quarter 2022
Ex-Dividend Date	Record Date	Payment Date	Amount per Share
September 16, 2022	September 19, 2022	October 14, 2022	$0.10
October 17, 2022	October 18, 2022	November 15, 2022	$0.10
November 16, 2022	November 17, 2022	December 15, 2022	$0.10
		Total:	$0.30

 

When declaring distributions, the Horizon board of directors reviews estimates of taxable income available for distribution, which may differ from consolidated net income under generally accepted accounting principles due to (i) changes in unrealized appreciation and depreciation, (ii) temporary and permanent differences in income and expense recognition, and (iii) the amount of spillover income carried over from a given year for distribution in the following year. The final determination of taxable income for each tax year, as well as the tax attributes for distributions in such tax year, will be made after the close of the tax year.

Horizon maintains a "Dividend Reinvestment Plan" ("DRIP") that provides for the reinvestment of distributions on behalf of its stockholders, unless a stockholder has elected to receive distributions in cash. As a result, if Horizon declares a distribution, its stockholders who have not "opted out" of the DRIP by the distribution record date will have their distribution automatically reinvested into additional shares of Horizon's common stock. Horizon has the option to satisfy the share requirements of the DRIP through the issuance of new shares of common stock or through open market purchases of common stock by the DRIP plan administrator. Newly-issued shares will be valued based upon the final closing price of Horizon's common stock on a specified valuation date for each distribution as determined by Horizon's board of directors. Shares purchased in the open market to satisfy the DRIP requirements will be valued based upon the average price of the applicable shares purchased by the DRIP plan administrator, before any associated brokerage or other costs, which are borne by Horizon.

About Horizon Technology Finance

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of HRZN is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon Technology Finance Management LLC is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Portland, Maine, Austin, Texas, and Reston, Virginia. To learn more, please visit horizontechfinance.com. 

Forward-Looking Statements

Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Horizon's filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contacts:

Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450

Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819

View original content:https://www.prnewswire.com/news-releases/horizon-technology-finance-announces-monthly-distributions-for-october-november-and-december-2022-totaling-0-30-per-share-301598310.html

SOURCE Horizon Technology Finance Corporation

FAQ

What are the monthly distributions for HRZN in Q4 2022?

Horizon Technology Finance declared monthly cash distributions of $0.10 per share for October, November, and December 2022.

When are the payment dates for HRZN's 2022 cash distributions?

The payment dates for HRZN's cash distributions are October 14, November 15, and December 15, 2022.

How much has HRZN paid in distributions since its IPO?

Since its IPO in 2010, HRZN has paid approximately $190 million in distributions to shareholders.

What is the total amount of HRZN's cash distributions for the fourth quarter of 2022?

The total amount of HRZN's cash distributions for Q4 2022 is $0.30 per share.

What is Horizon's Dividend Reinvestment Plan (DRIP)?

HRZN's DRIP allows stockholders to automatically reinvest their cash distributions into additional shares of Horizon's common stock.