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 (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 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.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced it led a $30 million venture loan facility to TemperPack Technologies, funding $7.5 million of the initial $15 million draw. TemperPack specializes in sustainable insulated packaging for perishable deliveries, aiming to provide environmentally-friendly alternatives. The loan proceeds will support TemperPack's growth and operational needs. With a focus on eco-friendly packaging, the investment aligns with the rising demand for sustainable solutions in e-commerce and cold chain logistics.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced monthly cash distributions of $0.10 per share for July, August, and September 2021, totaling $0.30 per share. Since its IPO in 2010, Horizon has distributed a total of $156 million to shareholders. The board evaluates taxable income for these distributions, which may differ from GAAP net income due to various factors. Horizon also offers a Dividend Reinvestment Plan, allowing investors to reinvest distributions into additional shares.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported strong first-quarter 2021 results, achieving a net investment income of $6.0 million ($0.31 per share), up from $4.3 million ($0.26) year-over-year. The total investment portfolio grew to $380.0 million with a net asset value of $217.7 million ($11.07 per share). The annualized yield on debt investments was 15.2%. Horizon funded $51.0 million in new loans, raised $4.9 million through its ATM program, and declared a $0.10 per share distribution for July to September 2021. The liquidity position remains robust with $148.6 million available.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced it will release its financial results for Q1 2021 on April 27, 2021, after market close. A conference call is scheduled for April 28, 2021, at 9:00 a.m. ET, featuring key executives including CEO Robert D. Pomeroy, Jr. Participants can join via phone or listen to a live webcast on Horizon's website. The company focuses on providing secured loans to venture-backed firms in technology, life sciences, healthcare, and sustainability sectors, aiming to maximize returns through current income and capital appreciation.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a strong first quarter of 2021, with $51 million in loans originated to new and existing companies. The firm experienced significant liquidity events, including $17.2 million in principal prepayments and $0.8 million in warrant proceeds. However, new loan commitments totaled $48.5 million, a decrease from the previous quarter's $103.1 million. As of March 31, 2021, Horizon’s backlog stood at $94 million. The company emphasizes growth potential in its venture lending brand and robust pipeline of investment opportunities.
Horizon Technology Finance Management announced a deal with Waterfall Asset Management on March 4, 2021, to launch a venture debt portfolio with an initial commitment of $100 million, potentially increasing to $300 million. This partnership aims to enhance Horizon's ability to invest in emerging companies, thereby diversifying its portfolios and mitigating concentration risks. The company's strategic positioning allows it to capitalize on the growing trend of venture-backed firms integrating debt into their capital structures.
Horizon Technology Finance Corporation (Nasdaq: HRZN) has priced a public offering of $50 million in notes due 2026, expecting net proceeds of approximately $48.25 million. The notes will bear an interest rate of 4.875% annually, with the first payment on June 30, 2021. This offering, closing on March 30, 2021, is intended for debt repayment and general corporate purposes. A 30-day option for underwriters to purchase an additional $7.5 million in notes is also available. The notes will be listed on the NYSE under 'HTFB.'
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a $9 million venture loan facility to InfoBionic, Inc., of which $7 million is initially funded. InfoBionic, known for its FDA-cleared MoMe® Kardia platform, aims to enhance cardiac arrhythmia monitoring for physicians. The loan proceeds will support InfoBionic's growth and operational needs. Gerald A. Michaud, President of Horizon, emphasized the importance of this technology in ensuring timely treatment, while InfoBionic's CEO, Stuart Long, highlighted the investment's role in advancing their innovation.