Horizon Technology Finance Corporation (HRZN) provides venture lending and growth-capital financing to development-stage and growth companies in technology, life science, healthcare information and services, and sustainability. Its recurring announcements address secured loan facilities, portfolio activity, net investment income and NAV, monthly cash distributions and special distributions, and capital allocation by its board.
Company updates also cover its external management by Horizon Technology Finance Management LLC, affiliation with Monroe Capital, the completed merger with Monroe Capital Corporation, and the HRZN CRFH LLC joint venture focused on growth financing for small- and micro-cap public companies.
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.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced its plans to release third-quarter financial results on October 26, 2021, after market close. A conference call to discuss these results is scheduled for October 27, 2021, at 9:00 a.m. ET, featuring remarks from key executives including CEO Robert D. Pomeroy, Jr. Investors can participate via phone or listen through a live webcast on the Company's website. Horizon specializes in providing secured loans to venture capital-backed companies across various sectors including technology and life sciences.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported strong performance for Q3 2021, achieving a record $141 million in loan originations, with $99 million attributed to HRZN. The portfolio ended with a committed backlog of $123 million, reflecting robust demand for venture loans. During the quarter, HRZN received $50 million in loan prepayments, boosting fee and interest income. The company closed new loan commitments totaling $91 million, with a significant pipeline of opportunities, suggesting ongoing growth potential for shareholders.
Stealth BioTherapeutics (Nasdaq: MITO) completed a $25 million long-term debt facility with Horizon Technology Finance (Nasdaq: HRZN), drawing down $15 million initially. An additional $10 million is contingent on achieving a predetermined milestone. This financing aims to support ongoing clinical trials, including a recent NDA submission for Barth syndrome under FDA review. The facility includes terms for monthly repayments over 48 months, with a potential extension for the interest-only period. Stealth has issued warrants for 13,636,364 shares to Horizon at $0.11 per share.
Horizon Technology Finance will participate in the 20th Annual Capital Link Closed-End Funds & Global ETFs Forum on October 5, 2021, at 2:00 p.m. ET. CEO Robert D. Pomeroy Jr. will join the BDCs Roundtable – Financing America's Growth panel. The conference is free and aims to offer insights from leading venture debt BDC executives. Horizon specializes in providing secured loans to venture capital-backed companies in sectors like technology and life sciences, focusing on maximizing returns from debt investments and capital appreciation.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $30 million venture loan facility to Dropoff, Inc., with Horizon funding $12.5 million of the initial $20 million draw. Dropoff specializes in same-day delivery services for healthcare, utilizing proprietary logistics software for optimized operations. The funding will support Dropoff's working capital and acquisitions. Horizon's President emphasized the company's commitment to supporting Dropoff's growth, as it meets critical delivery needs within the healthcare sector.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $15 million venture loan facility to Spineology, Inc., contributing $5 million of the initial $10 million draw. Spineology, known for its anatomy-conserving solutions for lumbar spinal fusion, plans to use the funds for general working capital. The company's technology has seen strong clinical adoption, which is expected to capture market share as it develops more offerings. Horizon aims to enhance returns through its secured loans to businesses in technology and healthcare sectors.
Horizon Technology Finance Corporation (NASDAQ: HRZN) and Trinity Capital Inc. (NASDAQ: TRIN) have provided a $40 million venture loan to Nexii Building Solutions Inc., a green construction technology firm. Horizon contributed $22.5 million and $7.5 million via a private vehicle, while Trinity added $10 million. The funding aims to support Nexii's growth and working capital needs, enhancing its sustainable building initiatives. The partnership is designed to foster innovation in construction, aligning with goals for a zero-carbon economy.
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.