Welcome to our dedicated page for Horizon Techn news (Ticker: HRZN), a resource for investors and traders seeking the latest updates and insights on Horizon Techn 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 announced a $9 million venture loan facility to InfoBionic, Inc., of which $7 million is initially funded. InfoBionic, known for its FDA-cleared MoMe® Kardia platform, aims to enhance cardiac arrhythmia monitoring for physicians. The loan proceeds will support InfoBionic's growth and operational needs. Gerald A. Michaud, President of Horizon, emphasized the importance of this technology in ensuring timely treatment, while InfoBionic's CEO, Stuart Long, highlighted the investment's role in advancing their innovation.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has declared monthly cash distributions of $0.10 per share for April, May, and June 2021, totaling $0.30 per share. Since its IPO in 2010, Horizon has distributed $153 million to shareholders. The board reviews estimates of taxable income before declaring distributions, which may differ from GAAP net income. Horizon also offers a Dividend Reinvestment Plan (DRIP) for stockholders to reinvest distributions. For further information, visit horizontechfinance.com.
Horizon Technology Finance Corporation (HRZN) reported its Q4 and full-year 2020 financial results, revealing a decline in net investment income (NII) to $3.9 million ($0.21 per share) from $6.5 million ($0.43 per share) in 2019. The total investment portfolio stood at $352.5 million, with a net asset value of $212.6 million ($11.02 per share). Despite a challenging year, new loans amounting to $76.6 million were funded in Q4. Monthly distributions of $0.10 per share were declared for April, May, and June 2021, showcasing a proactive portfolio management strategy.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $9 million venture loan facility to online children's clothing brand Primary Kids, Inc., with $6 million initially funded. The loan is aimed at supporting Primary's growth and working capital needs. Prominent investors in Primary include U.S. Venture Partners and Homebrew. Horizon's President, Gerald A. Michaud, highlighted the importance of supporting growth-oriented companies in the ESG space. Primary focuses on non-gender-specific apparel appealing to environmentally conscious millennial parents.
Horizon Technology Finance Corporation (NASDAQ: HRZN) will announce its fourth-quarter financial results for the period ending December 31, 2020, on March 2, 2021, post-market close. A conference call to discuss these results is scheduled for March 3, 2021, at 9:00 a.m. ET, featuring remarks from the CEO and other executives. Horizon specializes in providing secured loans to venture capital-backed companies in various industries including technology and healthcare. The conference call will be accessible via phone and live webcast, with an archive available for 30 days.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced an $8 million venture loan facility to Clara Foods, Inc., a company specializing in animal-free proteins. Initially, $5 million of the loan has been funded. Clara Foods aims to produce egg proteins that replicate the taste and texture of real eggs using precision fermentation, addressing the growing demand for sustainable protein alternatives. The financing will support Clara's operational needs as it develops its innovative products in the alternative protein market.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a strong fourth quarter for 2020, with $77 million in loans originated. The company noted $17 million in loan prepayments, indicating successful exits by portfolio companies. New loan commitments totaled $103.1 million, marking a significant increase from the previous quarter. As of December 31, 2020, the company holds a committed backlog of $106.5 million across 16 companies. Horizons' portfolio includes a diverse range of sectors, including technology and healthcare, potentially enhancing shareholder returns.
Horizon Technology Finance Management has expanded its origination and investment team by adding five new finance professionals. This move aims to enhance its venture debt sourcing strategy targeting technology and life science sectors. Notable additions include Sara Johnson, Managing Director for Technology, and Bryce Bewley, Vice President, among others. Gerald A. Michaud, President of Horizon, emphasized the significant growth in the growth capital investing ecosystem, highlighting the strategic importance of these new hires in strengthening their market approach.
Horizon Technology Finance Corporation (NASDAQ: HRZN) and Silicon Valley Bank have issued a $20 million venture loan facility to Canary Medical, with each providing $10 million. The initial $5 million was funded, with remaining amounts contingent on regulatory and financial milestones. Canary Medical will utilize the funds for general working capital to support the development of its CHIRP sensor technology for knee replacements. Both companies emphasize the loan's significance for advancing healthcare outcomes.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $13 million funding of a $15 million venture loan facility to Alula Holdings, LLC. This facility aims to refinance existing debt and provide additional working capital. Alula specializes in security systems aimed at professional distributors, boasting partnerships with over 3,500 security dealers in the U.S. Horizon's President noted Alula's strong market position and potential for growth in the security segment, emphasizing the company's advanced technologies. This financial support is expected to enable Alula to expand its security solutions portfolio.
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