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) generates a steady flow of news as a specialty finance company and business development company focused on secured lending to growth-oriented businesses. News coverage for HRZN often centers on its lending activity in the technology, life science, healthcare information and services, and sustainability industries, as well as developments in its capital structure and corporate strategy.
Investors following HRZN news can expect regular updates on quarterly and annual financial results, including net investment income, portfolio yields, net asset value per share and portfolio composition. Earnings releases are typically accompanied by management commentary on originations, loan prepayments, credit quality and liquidity, giving insight into how Horizon’s secured loan and warrant portfolio is evolving over time.
Another key stream of Horizon news involves distributions and dividend policy. The company frequently announces monthly cash distributions, with details on ex-dividend dates, record dates and payment dates, and provides context on how its board of directors evaluates taxable income, spillover income and long-term outlook when setting distribution levels. These announcements are often paired with information about the company’s Dividend Reinvestment Plan for shareholders who choose to reinvest distributions.
HRZN news also covers capital markets and financing transactions, such as offerings of public notes, convertible notes and amendments to credit facilities. Press releases and related SEC filings describe new note issuances, interest rates, maturities, redemption terms and intended uses of proceeds, including repayment of existing indebtedness and general corporate purposes.
In addition, Horizon’s disclosures include updates on strategic transactions, notably the announced merger agreement under which Monroe Capital Corporation would merge with and into Horizon, subject to approvals and closing conditions. Investors can monitor this news stream for progress on the merger, related regulatory steps and any changes to the expected structure. For a comprehensive view of HRZN-related developments, this news page aggregates company press releases and market-moving announcements in one place.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced an amendment to its senior secured debt facility with a large U.S. insurance company, increasing the commitment by $100 million to a total of $200 million in secured notes. The investment period has been extended to June 2023 and the maturity to June 2028. The new terms also lower the interest rate margin on borrowings above $100 million. This strategic move aims to enhance Horizon's capital resources and expand its lending capacity, allowing further growth in its venture debt portfolio.
Horizon Technology Finance Management has announced senior-level promotions within its business development team, elevating Todd A. McDonald and Kevin T. Walsh to Senior Managing Directors. McDonald, with over 20 years of experience, has been with Horizon since 2017, focusing on East Coast technology markets. Walsh, employed since 2006, has over 25 years of experience in the West Coast markets. The President of Horizon, Gerald A. Michaud, credited their contributions to the company's growth and success.
Horizon Technology Finance Corporation (NASDAQ: HRZN) will release its fourth-quarter financial results for 2021 on March 1, 2022, after market close. A conference call is scheduled for March 2, 2022, at 9:00 a.m. ET, hosted by CEO Robert D. Pomeroy, Jr. and other executives. Investors can join the call by dialing specified numbers or via a live webcast available on Horizon's website. The company focuses on providing secured loans to venture capital-backed firms in technology and related sectors, aiming for significant returns through income generation and capital appreciation.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced leading a $50 million venture loan to Nextcar Holding Company, dba Autonomy, on December 14, 2021. Horizon funded $7 million of the initial $14 million draw. Autonomy offers a digital vehicle subscription service aimed at providing affordable mobility options without long-term debt. The company, co-founded by industry disruptors Scott Painter and Georg Bauer, plans to use the funds for growth and working capital. Horizon's support reflects confidence in Autonomy's innovative model within the automotive sector.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a robust fourth quarter for 2021, originating $118 million in loans through its lending platform, with $80 million allocated to HRZN. For the year, HRZN's portfolio reached a record $297 million. The company's committed backlog grew to $153 million, ensuring future growth potential. Loan prepayments amounted to $55 million, enhancing fee and interest income. Additionally, HRZN secured new loan commitments of $114.9 million. The company holds a diverse portfolio of warrants and equity in 77 companies, indicating potential for future returns.
On January 11, 2022, Horizon Technology Finance Corporation (NASDAQ: HRZN) announced the closure of a $30 million venture loan facility to Interior Define, Inc. Horizon provided $12.5 million of the initial $20 million draw, while a managed private investment vehicle funded $7.5 million. This funding supports Interior Define, a customizable D2C furniture brand, in its growth, including the opening of 30 new retail locations in 2022. The loan will enhance their product offerings and improve customer experience through an omnichannel approach.
IMV Inc. (NASDAQ: IMV) has secured a US$25 million long-term debt facility led by Horizon Technology Finance Corporation (NASDAQ: HRZN). The company has accessed US$15 million immediately, with an additional US$10 million contingent on meeting a milestone. This financing bolsters funding for clinical development of IMV’s lead candidate, maveropepimut-S (MVP-S), and supports ongoing projects using their DPX technology platform. Proceeds will also settle existing loans, enhancing IMV's financial flexibility.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has granted a $5 million venture loan to Everstream Analytics, enhancing its support for the supply chain risk management software provider. Everstream, an established portfolio company, aims to utilize the funds for general growth and working capital. The loan comes at a critical time as global supply chain disruptions heighten the demand for Everstream's AI-powered analytics. Horizon's commitment emphasizes the potential for Everstream's software to aid businesses in navigating ongoing global logistical challenges.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced monthly cash distributions of $0.10 per share for January, February, and March 2022, along with a special distribution of $0.05 per share in December 2021, totaling $0.35 per share. Since its IPO in 2010, Horizon has paid $166 million in distributions to shareholders. The company aims to maximize returns through secure loans to venture capital-backed firms in several industries, including technology and healthcare.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported strong third quarter results for 2021, achieving a net investment income of $8.0 million, or $0.40 per share, up from $5.9 million or $0.34 per share a year prior. The total investment portfolio reached $452.3 million. The company funded 15 loans totaling $98.9 million and declared monthly distributions of $0.10 per share for January, February, and March 2022, along with a special distribution of $0.05 per share for December 2021. The company's net asset value stands at $237.6 million, or $11.63 per share.