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) reported its third quarter 2020 results, showing net investment income of $5.9 million or $0.34 per share. This represents a slight decline from $5.8 million or $0.42 per share year-over-year. The total investment portfolio stood at $311.8 million, with a net asset value of $205.2 million ($11.17 per share). The company funded four loans totaling $16 million and raised approximately $12.7 million through its ATM offering program. Despite challenges, cash reserves were strong at $56.9 million, with liquidity reaching over $104 million.
Horizon Technology Finance Corporation (NASDAQ: HRZN) plans to release its financial results for Q3 2020 on November 3, 2020, after market close. A conference call is scheduled for November 4, 2020, at 9:00 a.m. ET, featuring CEO Robert Pomeroy and other executives. The call can be accessed by dialing (877) 407-9716 domestically or (201) 493-6779 internationally, using conference ID 13711598. The event will also be available as a live webcast on Horizon's website, with an archive accessible for 30 days thereafter.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a $15 million venture loan facility granted to Topia Mobility Inc. to support its market expansion. Topia, a leader in global talent mobility, offers subscription-based software solutions that automate workforce management. The funding aims to enhance Topia's growth objectives and marketing efforts, especially focusing on the recently launched Topia One platform. With over $115 million raised from investors, Topia serves global brands such as Schneider Electric and Dell.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced two upcoming virtual conference appearances by its executives in September 2020. Gerald A. Michaud, President, will participate in the Refinitiv LPC Middle Market and Large Corporate Loans Virtual Conference on September 15 at 3:30 p.m. ET, discussing niche strategies in private credit during COVID-19. On September 22, CEO Robert D. Pomeroy, Jr. will speak at the Private Debt Investor's New York Forum, focusing on underwriting for companies with no cash flow. Both events aim to share insights and foster networking in the finance sector.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced monthly cash distributions of $0.10 per share for October, November, and December 2020, totaling $0.30 per share. Since its IPO in 2010, the company has declared a cumulative $13.57 per share in distributions. The board reviews income estimates for distribution calculations, which may vary from consolidated net income. Horizon also offers a Dividend Reinvestment Plan (DRIP) for stockholders to automatically reinvest distributions into additional shares.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a net investment income of $6.7 million, or $0.40 per share, for Q2 2020, up from $5.0 million, or $0.37 per share year-over-year. The total investment portfolio reached $355.9 million. The company funded six loans totaling $40.4 million and experienced liquidity events from four portfolio companies. Horizon declared upcoming monthly distributions of $0.10 per share for October, November, and December. Despite a challenging environment, Horizon's balance sheet remains strong with substantial cash and credit capacity.
Horizon Technology Finance Corporation (NASDAQ: HRZN) will release its second quarter financial results for the period ending June 30, 2020, on July 28, 2020, after market close. A conference call to discuss these results will follow on July 29, 2020, at 9:00 a.m. ET, featuring CEO Robert D. Pomeroy, Jr. and other key executives. Investors can join the call via phone or listen to a live webcast on the company's website. A replay will be available until July 31, 2020. Horizon specializes in providing secured loans to venture capital-backed companies in technology and healthcare sectors.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a robust portfolio update for Q2 2020, with loan originations totaling $40.4 million, marking the ninth consecutive quarter of growth. The company benefited from strong prepayment activity of $30.0 million and closed new loan commitments of $75.0 million. Horizon consolidated six venture debt loans onto its balance sheet, amounting to $15.4 million. With a committed backlog of $100.9 million, Horizon is well-positioned for future growth, emphasizing its strong brand and predictive pricing strategy.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced on June 26, 2020, an amendment and extension of its $100 million senior secured debt facility with a U.S. insurance company. The facility allows Horizon Secured Loan Fund I LLC to issue up to $100 million in secured notes, enhancing its lending capacity and financial flexibility. The investment period is two years with a maturity in June 2027, and the initial interest rate is 4.60% or based on the three-year USD mid-market swap rate plus 3.55%. This strategic move aims to diversify the balance sheet and maximize capital efficiency.
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