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) announced a $15 million venture loan facility to Branded Online, Inc. (Nogin), funding $5 million of the initial $10 million draw. Nogin offers a comprehensive eCommerce platform for consumer brands in various industries, enhancing revenue and profitability through AI-driven marketing and fulfillment. Horizon's President highlighted Nogin's potential to reduce operating expenses and drive growth. The partnership aims to strengthen Nogin's position in the retail market, allowing brands to focus on innovation and customer engagement.
Embody has successfully secured $11.5 million in oversubscribed equity financing and entered into a debt financing agreement with Horizon Technology Finance Corporation (NASDAQ: HRZN) for up to $9 million. An initial $5 million has already been funded, bringing total available funds to $20.5 million. This financing will help commercialize their Tapestry Biointegrative Implant and support clinical studies. The global market for sports medicine products is projected to reach $11 billion by 2023.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has declared monthly cash distributions of $0.10 per share for October, November, and December 2021, totaling $0.30 per share. This follows the company's commitment to providing returns to shareholders, having paid out $160 million in distributions since its IPO in 2010. The board reviews taxable income estimates prior to declaring these distributions. Horizon also offers a Dividend Reinvestment Plan allowing stockholders to reinvest distributions into additional shares unless they opt for cash payments.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported Q2 2021 net investment income of $6.1 million ($0.31/share), down from $6.7 million ($0.40/share) year-over-year. The investment portfolio reached $404.1 million, with a net asset value of $224.3 million ($11.20/share). Horizon funded nine loans totaling $67.3 million, maintaining an annualized portfolio yield of 14.7%. The firm recorded liquidity events from five portfolio companies and announced $0.30/share in monthly distributions for October, November, and December 2021. Liquidity stood at $83.3 million as of June 30, 2021.
Horizon Technology Finance Corporation (NASDAQ: HRZN) will announce its financial results for the second quarter ending June 30, 2021, on July 27, 2021, after market close. A conference call to discuss the results is scheduled for July 28, 2021, at 9:00 a.m. ET, featuring remarks from key executives, including CEO Robert D. Pomeroy, Jr. Interested participants can join the call by phone or via a live webcast on the company's website. Horizon specializes in providing secured loans to venture capital-backed companies across various industries such as technology and life sciences.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a productive second quarter of 2021, with over $67 million in loans originated. The company achieved a record committed backlog of $143.5 million in debt investments. Notably, Horizon received $38 million in loan prepayments, enhancing its fee and interest income. The portfolio included significant loans to companies in technology and life sciences sectors, including $22.5 million for a commercial space station project. Overall, the company expects continued growth in the second half of 2021.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced on July 6, 2021, that it led a $10 million venture loan to RepTrak Holdings, Inc. Horizon funded $5 million, with the remaining amount from a managed private investment vehicle. RepTrak, known for its enterprise software platform that analyzes corporate reputation, aims to use the funds for general working capital. Gerald A. Michaud, President of Horizon, expressed excitement for RepTrak's growth, while CEO Kylie Wright-Ford highlighted the value of their data in enhancing brand perceptions.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced it has led an $8 million venture loan facility to LiquiGlide, Inc., funding $2 million of the initial $4 million draw. LiquiGlide specializes in frictionless technology for sustainable packaging and medical devices. The loan will be utilized for growth and working capital. LiquiGlide recently partnered with Colgate and is expanding its market presence. Horizon aims to maximize returns through secured loans and aims to support companies committed to sustainability and innovation.
Horizon Technology Finance Management LLC announced key promotions and new hires on June 16, 2021. Significant promotions include John C. Bombara, Daniel S. Devorsetz, and Daniel R. Trolio as Executive Vice Presidents. New hires include Lindsay A. Fouty as Vice President and Senior Credit Officer and Kristin L. Goodchild as Staff Attorney, enhancing Horizon's team in credit and legal sectors. CEO Gerald A. Michaud emphasized the importance of these appointments in strengthening their venture lending capabilities, ultimately aiming to maximize investment returns for Horizon Technology Finance Corporation (NASDAQ: HRZN).
Horizon Technology Finance Corporation (NASDAQ: HRZN) appointed Daniel S. Devorsetz as Chief Operating Officer, effective immediately. Devorsetz has been with the firm since 2004, serving in various roles, including Chief Investment Officer. His promotion reflects his contributions toward enhancing Horizon's business development and credit operations. The company aims to leverage his leadership to navigate the competitive venture investing landscape, focusing on innovative transaction sourcing and portfolio management.
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