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) announced a 36% year-over-year growth in its investment portfolio, reaching $515 million. The company reported first quarter 2022 net investment income (NII) of $5.7 million, or $0.26 per share, down from $6.0 million a year ago. As of March 31, 2022, HRZN had a net asset value (NAV) of $280 million, or $11.68 per share. With a robust debt portfolio yield of 12.4% and a record committed backlog of $172 million, HRZN is well-positioned for future growth. Monthly distributions of $0.30 per share were declared for July, August, and September.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has successfully closed a venture loan facility with Native Microbials, a company specializing in microbial solutions for animal health. The funding aims to enhance Native Microbials’ manufacturing capabilities, supply chain, and customer services. Horizon's President, Gerald Michaud, highlighted the significant market opportunity in animal health and nutrition supported by Native Microbials' innovative technology. The loan will enable Native Microbials to meet growing demand among farmers and pet owners.
Horizon Technology Finance Corporation (NASDAQ: HRZN) will release its financial results for Q1 2022 after market close on May 3, 2022. A conference call is scheduled for May 4, 2022, at 9:00 a.m. ET, featuring key executives including CEO Robert D. Pomeroy, Jr. Investors can join the call by dialing (877) 407-9716 (domestic) or (201) 493-6779 (international). The call will also be available via a live webcast on the company's website.
Horizon focuses on providing secured loans to venture capital-backed companies in technology, life sciences, and sustainability.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a strong Q1 2022, originating $132 million in new loans, with $73 million specifically from HRZN. The company ended the quarter with a record $172 million committed backlog, including $151 million in HRZN commitments. Notably, HRZN also received $12 million in loan prepayments, validating its pricing strategy. The ongoing growth trajectory indicates HRZN's favorable positioning in the specialty finance sector.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $15 million venture loan facility to MyForest Foods Co., funding $7.5 million each from Horizon and a managed private investment vehicle. MyForest Foods specializes in sustainable, whole-cut meat alternatives using mycelium, with the flagship product being MyBacon. The funding aims to support MyForest Foods' growth and working capital, as the company seeks to innovate in the alternative foods market. Horizon's President expressed confidence in MyForest Foods' market potential, highlighting the significance of their unique offerings.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced that Chairman and CEO Robert D. Pomeroy, Jr. will engage in a fireside chat at the Maxim Group and M-Vest 2022 Virtual Growth Conference on March 30, 2022, at 3:00 p.m. ET. This event aims to showcase insights into the company, which specializes in securing loans for venture-backed firms in technology, life sciences, and sustainability sectors. Interested participants can register for free at the conference's official site.
On March 17, 2022, Horizon Technology Finance Corporation (NASDAQ: HRZN) announced the closure of a $15 million venture loan facility to Secure Transfusion Services, Inc. Horizon funded $5 million of the initial $10 million draw. STS, which operates blood collection centers, aims to modernize the transfusion supply chain and improve blood component availability. The funding is intended for general growth. Horizon's President highlighted STS's potential in addressing the demand for blood platelets.
On March 15, 2022, Horizon Technology Finance Corporation (NASDAQ: HRZN) announced the closure of a $10 million venture loan facility to Aerobiotix, LLC, with Horizon providing $5 million. Aerobiotix specializes in air disinfection systems for healthcare facilities, utilizing ultraviolet technology to eliminate airborne pathogens. The funds will support Aerobiotix's growth and working capital. Horizon's president emphasized the importance of Aerobiotix's technology in improving health outcomes. The investment aligns with Horizon's strategy of backing innovative companies in various sectors.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a public offering of 2,500,000 shares at $14.35 each, totaling approximately $35.9 million. The offering is set to close on March 14, 2022, with underwriters having a 30-day option to purchase an additional 375,000 shares. Proceeds will be used to repay outstanding debt from KeyBank, reinvest in accordance with investment goals, and cover operational expenses. Investors are urged to read the preliminary prospectus for detailed information on investment risks and objectives.
Horizon Technology Finance Corporation (Nasdaq: HRZN) announced a proposed underwritten primary offering of 2,500,000 shares of common stock, with an additional option for underwriters to purchase 375,000 shares. The proceeds will primarily repay outstanding debt from its revolving credit facility and will also fund general corporate purposes and operating expenses. The offering is managed by Morgan Stanley, UBS Securities, and Oppenheimer & Co. Investors are advised to review the preliminary prospectus for associated risks and details.
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