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) announced the pricing of a public offering of $50 million in notes due June 2027, resulting in net proceeds of approximately $48.25 million. The notes will bear an interest rate of 6.250% per year with the first payment on September 30, 2022, and will be redeemable after June 15, 2024. The offering is set to close on June 15, 2022, with proceeds earmarked for reducing borrowings from KeyBank and general corporate purposes. The company has also provided underwriters an option to purchase an additional $7.5 million in notes.
Soli Organic has launched its USDA-certified organic 'Indolce' basil in over 2,000 stores across the Mid-Atlantic region, including major retailers like Walmart and Whole Foods. The new line promises to be priced nearly a dollar less per ounce than field-grown organic produce. Bolstering its operations, the company secured $50 million in venture debt financing from Horizon Technology Finance and Bridge Bank to enhance its production capacity. This follows a previous $120 million financing arrangement, aiming for 15 indoor farms nationwide to meet rising demand for organic produce.
Horizon Technology Finance Management has announced the addition of six professionals to its operations, legal, and investment teams to support growth driven by over $650 million in assets under management (AUM). This expansion aligns with Horizon's commitment to enhancing service for its portfolio companies and improving returns for investors. The new team members bring extensive experience from various financial and legal backgrounds, positioned across Horizon's offices in Farmington, Connecticut, and Pleasanton, California.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced monthly cash distributions of $0.10 per share for July, August, and September 2022, totaling $0.30 per share. The company has paid $182 million in distributions since its IPO in 2010. The Ex-Dividend Dates for the upcoming distributions are June 16, July 18, and August 17, 2022. Horizon also offers a Dividend Reinvestment Plan (DRIP) for shareholders who prefer automatic reinvestment of their distributions into additional shares.
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.
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