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.
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