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 Corporation (NASDAQ: HRZN) has declared monthly cash distributions of $0.10 per share for April, May, and June 2021, totaling $0.30 per share. Since its IPO in 2010, Horizon has distributed $153 million to shareholders. The board reviews estimates of taxable income before declaring distributions, which may differ from GAAP net income. Horizon also offers a Dividend Reinvestment Plan (DRIP) for stockholders to reinvest distributions. For further information, visit horizontechfinance.com.
Horizon Technology Finance Corporation (HRZN) reported its Q4 and full-year 2020 financial results, revealing a decline in net investment income (NII) to $3.9 million ($0.21 per share) from $6.5 million ($0.43 per share) in 2019. The total investment portfolio stood at $352.5 million, with a net asset value of $212.6 million ($11.02 per share). Despite a challenging year, new loans amounting to $76.6 million were funded in Q4. Monthly distributions of $0.10 per share were declared for April, May, and June 2021, showcasing a proactive portfolio management strategy.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $9 million venture loan facility to online children's clothing brand Primary Kids, Inc., with $6 million initially funded. The loan is aimed at supporting Primary's growth and working capital needs. Prominent investors in Primary include U.S. Venture Partners and Homebrew. Horizon's President, Gerald A. Michaud, highlighted the importance of supporting growth-oriented companies in the ESG space. Primary focuses on non-gender-specific apparel appealing to environmentally conscious millennial parents.
Horizon Technology Finance Corporation (NASDAQ: HRZN) will announce its fourth-quarter financial results for the period ending December 31, 2020, on March 2, 2021, post-market close. A conference call to discuss these results is scheduled for March 3, 2021, at 9:00 a.m. ET, featuring remarks from the CEO and other executives. Horizon specializes in providing secured loans to venture capital-backed companies in various industries including technology and healthcare. The conference call will be accessible via phone and live webcast, with an archive available for 30 days.
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced an $8 million venture loan facility to Clara Foods, Inc., a company specializing in animal-free proteins. Initially, $5 million of the loan has been funded. Clara Foods aims to produce egg proteins that replicate the taste and texture of real eggs using precision fermentation, addressing the growing demand for sustainable protein alternatives. The financing will support Clara's operational needs as it develops its innovative products in the alternative protein market.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a strong fourth quarter for 2020, with $77 million in loans originated. The company noted $17 million in loan prepayments, indicating successful exits by portfolio companies. New loan commitments totaled $103.1 million, marking a significant increase from the previous quarter. As of December 31, 2020, the company holds a committed backlog of $106.5 million across 16 companies. Horizons' portfolio includes a diverse range of sectors, including technology and healthcare, potentially enhancing shareholder returns.
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.
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.
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.
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.