Welcome to our dedicated page for Horizon Technology Finance Corporation news (Ticker: HRZN), a resource for investors and traders seeking the latest updates and insights on Horizon Technology Finance Corporation stock.
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company headquartered in Farmington, Connecticut. The company is dedicated to providing capital in the form of structured debt products to venture capital-backed companies across the technology, life sciences, healthcare information and services, and sustainability industries. Since its inception in 2004, Horizon has successfully originated and invested more than $1.2 billion in venture loans to over 200 burgeoning companies.
Horizon operates with the primary objective of maximizing its investment portfolio's total return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives. The company's experienced team of investment professionals brings a wealth of industry knowledge, ensuring reliable and forward-looking capital solutions to its portfolio companies. Horizon's strong relationships within the venture capital community enable it to support its clients in bridging financial gaps and overcoming growth challenges.
Recent achievements highlight Horizon's robust financial performance. For the fourth quarter of 2023, Horizon reported a 21.8% increase in total investment income, reaching $28.2 million. The company's dollar-weighted annualized yield on average debt investments was 16.8%, reflecting its strategic focus on high-yield opportunities. Horizon's portfolio at the end of 2023 consisted of 56 secured loans, amounting to a fair value of $670.2 million, and total warrant, equity, and other investments in 102 companies valued at $38.9 million.
Horizon continues to actively manage its investments, prudently growing its portfolio and maximizing net asset value (NAV). Despite market challenges, including some unrealized depreciation on investments, the company remains committed to supporting its borrowers and maximizing capital recovery. As of December 31, 2023, Horizon's net assets stood at $324.0 million, or $9.71 per share.
In addition to its financial achievements, Horizon announced a significant acquisition through its affiliate HIMV LLC. Horizon facilitated the acquisition of a comprehensive portfolio of discovery, preclinical, and clinical stage assets from IMV Inc., aiding BioVaxys Technology Corp. in integrating these assets and expanding its clinical-stage programs.
Looking ahead, Horizon is set to release its financial results for the fourth quarter of 2023 on February 27, 2024, and will host a conference call to discuss these results. The company's board of directors has also declared monthly distributions of $0.11 per share for April, May, and June 2024, and a special distribution of $0.05 per share in April 2024.
Horizon Technology Finance Corporation remains a pivotal player in the venture lending landscape, offering substantial value and unwavering support to its portfolio companies. To learn more, visit horizontechfinance.com.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has granted a $5 million venture loan to Everstream Analytics, enhancing its support for the supply chain risk management software provider. Everstream, an established portfolio company, aims to utilize the funds for general growth and working capital. The loan comes at a critical time as global supply chain disruptions heighten the demand for Everstream's AI-powered analytics. Horizon's commitment emphasizes the potential for Everstream's software to aid businesses in navigating ongoing global logistical challenges.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced monthly cash distributions of $0.10 per share for January, February, and March 2022, along with a special distribution of $0.05 per share in December 2021, totaling $0.35 per share. Since its IPO in 2010, Horizon has paid $166 million in distributions to shareholders. The company aims to maximize returns through secure loans to venture capital-backed firms in several industries, including technology and healthcare.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported strong third quarter results for 2021, achieving a net investment income of $8.0 million, or $0.40 per share, up from $5.9 million or $0.34 per share a year prior. The total investment portfolio reached $452.3 million. The company funded 15 loans totaling $98.9 million and declared monthly distributions of $0.10 per share for January, February, and March 2022, along with a special distribution of $0.05 per share for December 2021. The company's net asset value stands at $237.6 million, or $11.63 per share.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced its plans to release third-quarter financial results on October 26, 2021, after market close. A conference call to discuss these results is scheduled for October 27, 2021, at 9:00 a.m. ET, featuring remarks from key executives including CEO Robert D. Pomeroy, Jr. Investors can participate via phone or listen through a live webcast on the Company's website. Horizon specializes in providing secured loans to venture capital-backed companies across various sectors including technology and life sciences.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported strong performance for Q3 2021, achieving a record $141 million in loan originations, with $99 million attributed to HRZN. The portfolio ended with a committed backlog of $123 million, reflecting robust demand for venture loans. During the quarter, HRZN received $50 million in loan prepayments, boosting fee and interest income. The company closed new loan commitments totaling $91 million, with a significant pipeline of opportunities, suggesting ongoing growth potential for shareholders.
Stealth BioTherapeutics (Nasdaq: MITO) completed a $25 million long-term debt facility with Horizon Technology Finance (Nasdaq: HRZN), drawing down $15 million initially. An additional $10 million is contingent on achieving a predetermined milestone. This financing aims to support ongoing clinical trials, including a recent NDA submission for Barth syndrome under FDA review. The facility includes terms for monthly repayments over 48 months, with a potential extension for the interest-only period. Stealth has issued warrants for 13,636,364 shares to Horizon at $0.11 per share.
Horizon Technology Finance will participate in the 20th Annual Capital Link Closed-End Funds & Global ETFs Forum on October 5, 2021, at 2:00 p.m. ET. CEO Robert D. Pomeroy Jr. will join the BDCs Roundtable – Financing America's Growth panel. The conference is free and aims to offer insights from leading venture debt BDC executives. Horizon specializes in providing secured loans to venture capital-backed companies in sectors like technology and life sciences, focusing on maximizing returns from debt investments and capital appreciation.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $30 million venture loan facility to Dropoff, Inc., with Horizon funding $12.5 million of the initial $20 million draw. Dropoff specializes in same-day delivery services for healthcare, utilizing proprietary logistics software for optimized operations. The funding will support Dropoff's working capital and acquisitions. Horizon's President emphasized the company's commitment to supporting Dropoff's growth, as it meets critical delivery needs within the healthcare sector.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $15 million venture loan facility to Spineology, Inc., contributing $5 million of the initial $10 million draw. Spineology, known for its anatomy-conserving solutions for lumbar spinal fusion, plans to use the funds for general working capital. The company's technology has seen strong clinical adoption, which is expected to capture market share as it develops more offerings. Horizon aims to enhance returns through its secured loans to businesses in technology and healthcare sectors.
Horizon Technology Finance Corporation (NASDAQ: HRZN) and Trinity Capital Inc. (NASDAQ: TRIN) have provided a $40 million venture loan to Nexii Building Solutions Inc., a green construction technology firm. Horizon contributed $22.5 million and $7.5 million via a private vehicle, while Trinity added $10 million. The funding aims to support Nexii's growth and working capital needs, enhancing its sustainable building initiatives. The partnership is designed to foster innovation in construction, aligning with goals for a zero-carbon economy.
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