Horizon Techn Stock Price, News & Analysis

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.

Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a $15 million venture loan facility granted to Topia Mobility Inc. to support its market expansion. Topia, a leader in global talent mobility, offers subscription-based software solutions that automate workforce management. The funding aims to enhance Topia's growth objectives and marketing efforts, especially focusing on the recently launched Topia One platform. With over $115 million raised from investors, Topia serves global brands such as Schneider Electric and Dell.

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced two upcoming virtual conference appearances by its executives in September 2020. Gerald A. Michaud, President, will participate in the Refinitiv LPC Middle Market and Large Corporate Loans Virtual Conference on September 15 at 3:30 p.m. ET, discussing niche strategies in private credit during COVID-19. On September 22, CEO Robert D. Pomeroy, Jr. will speak at the Private Debt Investor's New York Forum, focusing on underwriting for companies with no cash flow. Both events aim to share insights and foster networking in the finance sector.

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced monthly cash distributions of $0.10 per share for October, November, and December 2020, totaling $0.30 per share. Since its IPO in 2010, the company has declared a cumulative $13.57 per share in distributions. The board reviews income estimates for distribution calculations, which may vary from consolidated net income. Horizon also offers a Dividend Reinvestment Plan (DRIP) for stockholders to automatically reinvest distributions into additional shares.

Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a net investment income of $6.7 million, or $0.40 per share, for Q2 2020, up from $5.0 million, or $0.37 per share year-over-year. The total investment portfolio reached $355.9 million. The company funded six loans totaling $40.4 million and experienced liquidity events from four portfolio companies. Horizon declared upcoming monthly distributions of $0.10 per share for October, November, and December. Despite a challenging environment, Horizon's balance sheet remains strong with substantial cash and credit capacity.

Horizon Technology Finance Corporation (NASDAQ: HRZN) will release its second quarter financial results for the period ending June 30, 2020, on July 28, 2020, after market close. A conference call to discuss these results will follow on July 29, 2020, at 9:00 a.m. ET, featuring CEO Robert D. Pomeroy, Jr. and other key executives. Investors can join the call via phone or listen to a live webcast on the company's website. A replay will be available until July 31, 2020. Horizon specializes in providing secured loans to venture capital-backed companies in technology and healthcare sectors.

Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a robust portfolio update for Q2 2020, with loan originations totaling $40.4 million, marking the ninth consecutive quarter of growth. The company benefited from strong prepayment activity of $30.0 million and closed new loan commitments of $75.0 million. Horizon consolidated six venture debt loans onto its balance sheet, amounting to $15.4 million. With a committed backlog of $100.9 million, Horizon is well-positioned for future growth, emphasizing its strong brand and predictive pricing strategy.

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced on June 26, 2020, an amendment and extension of its $100 million senior secured debt facility with a U.S. insurance company. The facility allows Horizon Secured Loan Fund I LLC to issue up to $100 million in secured notes, enhancing its lending capacity and financial flexibility. The investment period is two years with a maturity in June 2027, and the initial interest rate is 4.60% or based on the three-year USD mid-market swap rate plus 3.55%. This strategic move aims to diversify the balance sheet and maximize capital efficiency.

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $20 million venture loan facility to Provivi, Inc., with $10 million funded initially. Provivi focuses on eco-friendly crop protection, utilizing pheromones to disrupt insect mating cycles, which enhances crop quality and yields while reducing costs by up to 80%. This financial support aims to accelerate Provivi's production and market entry globally. The investment reflects Horizon's strategy to provide capital to innovative firms in technology and life sciences, positioning both companies for growth.