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) 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.