Horizon Technology Finance Announces Monthly Distributions for July, August and September 2024 Totaling $0.33 per Share

Rhea-AI Summary

Horizon Technology Finance (HRZN) declared monthly cash distributions totaling $0.33 per share for July, August, and September 2024. Since its 2010 IPO, Horizon has paid $263 million in distributions. The board reviews taxable income for distribution, with a DRIP available for reinvestment.

Positive

• Consistent monthly cash distributions for shareholders ensure a steady income stream.

• Accumulated total distributions of $263 million since the company's IPO demonstrate a commitment to rewarding shareholders.

Negative

• The taxable income for distribution may differ from consolidated net income, potentially affecting shareholder tax obligations.

• Stockholders who do not 'opt out' of the Dividend Reinvestment Plan (DRIP) will have their distributions automatically reinvested, possibly limiting cash flow.

FARMINGTON, Conn.--(BUSINESS WIRE)-- Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (the “Company”), an affiliate of Monroe Capital, and 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 $0.11 per share, payable in each of July, August and September 2024. The following tables show these distributions, payable as set forth in the tables below, total $0.33 per share. Since its 2010 initial public offering, Horizon has paid a total of $263 million in distributions to its shareholders.

Monthly Distributions Declared in Second Quarter 2024

Ex-Dividend Date	Record Date	Payment Date	Amount per Share
June 17, 2024	June 17, 2024	July 16, 2024	$0.11
July 17, 2024	July 17, 2024	August 15, 2024	$0.11
August 16, 2024	August 16, 2024	September 13, 2024	$0.11
		Total:	$0.33

When declaring distributions, Horizon’s 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), externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, 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 Horizon 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 is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located throughout the U.S. Monroe Capital is an $18 billion asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, opportunistic, structured credit, real estate and equity. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240430262931/en/

Investor Relations:

ICR

Garrett Edson

ir@horizontechfinance.com

(646) 200-8885

Media Relations:

ICR

Chris Gillick

HorizonPR@icrinc.com

(646) 677-1819

Source: Horizon Technology Finance Corporation

FAQ

What is the total amount per share for monthly distributions in July, August, and September 2024?

Horizon Technology Finance declared monthly cash distributions totaling $0.33 per share for July, August, and September 2024.

How much has Horizon paid in distributions to its shareholders since its IPO?

Since its 2010 initial public offering, Horizon has paid a total of $263 million in distributions to its shareholders.

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

Horizon's Dividend Reinvestment Plan (DRIP) provides for the reinvestment of distributions on behalf of its stockholders, unless a stockholder has elected to receive distributions in cash.