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) 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.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $12.5 million venture loan facility to Sonex Health, Inc., with an initial funding of $7.5 million. Sonex develops innovative ultrasound-guided procedure technologies, notably the SX-One MicroKnife, which is FDA cleared for treating Carpal Tunnel Syndrome (CTS). This device allows for a less invasive procedure in outpatient settings, significantly reducing recovery time. The loan will support Sonex's working capital and growth initiatives, enhancing their ability to market the SX-One MicroKnife and develop new medical solutions.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $25 million venture loan facility to Getaround, Inc., a leader in peer-to-peer car sharing. Getaround aims to disrupt the $100 billion global rental market by allowing individuals to share their vehicles. The funding will be used for general working capital as Getaround continues its expansion across over 300 cities in the U.S. and Europe. Horizon's support highlights its confidence in Getaround's innovative technology and growth potential in mobility.
Horizon Technology Finance Corporation (NASDAQ: HRZN) declared monthly cash distributions of $0.10 per share for January, February, and March 2021, totaling $0.30 per share. Since its IPO in 2010, the company has paid out $145 million in distributions. The board reviews taxable income estimates for distribution declarations, which may vary from net income due to various accounting differences. Horizon offers a Dividend Reinvestment Plan, allowing shareholders to reinvest distributions into additional shares.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported its third quarter 2020 results, showing net investment income of $5.9 million or $0.34 per share. This represents a slight decline from $5.8 million or $0.42 per share year-over-year. The total investment portfolio stood at $311.8 million, with a net asset value of $205.2 million ($11.17 per share). The company funded four loans totaling $16 million and raised approximately $12.7 million through its ATM offering program. Despite challenges, cash reserves were strong at $56.9 million, with liquidity reaching over $104 million.
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