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Horizon Technology Finance Corporation - HRZN STOCK NEWS

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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Horizon Technology Finance Management has expanded its origination and investment team by adding five new finance professionals. This move aims to enhance its venture debt sourcing strategy targeting technology and life science sectors. Notable additions include Sara Johnson, Managing Director for Technology, and Bryce Bewley, Vice President, among others. Gerald A. Michaud, President of Horizon, emphasized the significant growth in the growth capital investing ecosystem, highlighting the strategic importance of these new hires in strengthening their market approach.

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Horizon Technology Finance Corporation (NASDAQ: HRZN) and Silicon Valley Bank have issued a $20 million venture loan facility to Canary Medical, with each providing $10 million. The initial $5 million was funded, with remaining amounts contingent on regulatory and financial milestones. Canary Medical will utilize the funds for general working capital to support the development of its CHIRP sensor technology for knee replacements. Both companies emphasize the loan's significance for advancing healthcare outcomes.

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Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $13 million funding of a $15 million venture loan facility to Alula Holdings, LLC. This facility aims to refinance existing debt and provide additional working capital. Alula specializes in security systems aimed at professional distributors, boasting partnerships with over 3,500 security dealers in the U.S. Horizon's President noted Alula's strong market position and potential for growth in the security segment, emphasizing the company's advanced technologies. This financial support is expected to enable Alula to expand its security solutions portfolio.

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Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a $5 million venture loan to Corinth MedTech, Inc. to support the commercialization of its Veloxion™ System, a medical device for treating Benign Prostatic Hyperplasia (BPH). This system features the world's first single-use resectoscope with integrated camera, designed to improve safety and efficiency in surgical procedures. The funds will be used for general working capital. Horizon aims to enhance its investment portfolio's return by supporting innovative healthcare solutions.

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Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $12.5 million venture loan facility to Sonex Health, Inc., with an initial funding of $7.5 million. Sonex develops innovative ultrasound-guided procedure technologies, notably the SX-One MicroKnife, which is FDA cleared for treating Carpal Tunnel Syndrome (CTS). This device allows for a less invasive procedure in outpatient settings, significantly reducing recovery time. The loan will support Sonex's working capital and growth initiatives, enhancing their ability to market the SX-One MicroKnife and develop new medical solutions.

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Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $25 million venture loan facility to Getaround, Inc., a leader in peer-to-peer car sharing. Getaround aims to disrupt the $100 billion global rental market by allowing individuals to share their vehicles. The funding will be used for general working capital as Getaround continues its expansion across over 300 cities in the U.S. and Europe. Horizon's support highlights its confidence in Getaround's innovative technology and growth potential in mobility.

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Horizon Technology Finance Corporation (NASDAQ: HRZN) declared monthly cash distributions of $0.10 per share for January, February, and March 2021, totaling $0.30 per share. Since its IPO in 2010, the company has paid out $145 million in distributions. The board reviews taxable income estimates for distribution declarations, which may vary from net income due to various accounting differences. Horizon offers a Dividend Reinvestment Plan, allowing shareholders to reinvest distributions into additional shares.

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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.

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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.

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FAQ

What is the current stock price of Horizon Technology Finance Corporation (HRZN)?

The current stock price of Horizon Technology Finance Corporation (HRZN) is $10.46 as of October 11, 2024.

What is the market cap of Horizon Technology Finance Corporation (HRZN)?

The market cap of Horizon Technology Finance Corporation (HRZN) is approximately 376.3M.

What is Horizon Technology Finance Corporation's primary business?

Horizon Technology Finance Corporation provides structured debt products to venture capital-backed companies in the technology, life sciences, healthcare information and services, and sustainability industries.

How much has Horizon invested in venture loans since its inception?

Since 2004, Horizon has originated and invested over $1.2 billion in venture loans to more than 200 growing companies.

Where is Horizon Technology Finance Corporation headquartered?

Horizon Technology Finance Corporation is headquartered in Farmington, Connecticut.

What is the company's investment objective?

Horizon aims to maximize its investment portfolio's total return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives.

What were Horizon's total investment income and annualized yield for Q4 2023?

For Q4 2023, Horizon's total investment income was $28.2 million with a dollar-weighted annualized yield on average debt investments of 16.8%.

How does Horizon manage its investment risk?

Horizon actively manages its investments by supporting borrowers, maximizing capital recovery, and prudently growing its debt investment portfolio.

What recent acquisition did Horizon facilitate through HIMV LLC?

Horizon facilitated the acquisition of the entire portfolio of discovery, preclinical, and clinical stage assets of IMV Inc. by BioVaxys Technology Corp.

What are the declared distributions for the first quarter of 2024?

Horizon 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.

What are the net assets and NAV per share for Horizon as of December 31, 2023?

As of December 31, 2023, Horizon's net assets were $324.0 million, or $9.71 per share.

How does Horizon support its portfolio companies?

Horizon provides debt capital, leverages industry knowledge, and maintains strong relationships within the venture capital community to support the growth and success of its portfolio companies.

Horizon Technology Finance Corporation

Nasdaq:HRZN

HRZN Rankings

HRZN Stock Data

376.30M
36.06M
1.34%
6.61%
1.1%
Asset Management
Financial Services
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United States of America
FARMINGTON