Horizon Techn Stock Price, News & Analysis

Horizon Technology Finance (NASDAQ: HRZN) reported third quarter 2024 financial results with net investment income of $11.8 million ($0.32 per share), down from $17.4 million ($0.53 per share) in Q3 2023. The total investment portfolio reached $684.0 million, with a debt portfolio yield of 15.9%. The company funded nine loans totaling $93.1 million and raised $18.4 million through ATM offerings. Net asset value was $342.5 million ($9.06 per share). The company declared monthly distributions of $0.11 per share through March 2025, with undistributed spillover income of $1.27 per share.

Horizon Technology Finance (NASDAQ: HRZN) reported significant progress in Q3 2024, originating $93.1 million in new loans. The company ended the quarter with a committed backlog of $189.9 million in debt investments. Key highlights include:

- Funded $93.1 million in loans to various companies
- Experienced liquidity events from four portfolio companies, with $37.5 million in principal prepayments
- Received $12.4 million in regularly scheduled principal payments
- Closed new loan commitments totaling $172.9 million to eight companies
- Held a portfolio of warrant and equity positions in 103 portfolio companies

HRZN's President, Gerald A. Michaud, noted the improving venture environment and expressed confidence in the company's position to deliver additional value to shareholders.

Horizon Technology Finance (NASDAQ: HRZN) has provided a $35 million venture loan facility to GT Medical Technologies, Inc. (GT MedTech), with $15 million initially funded. GT MedTech's flagship product, GammaTile®, is a bioresorbable collagen tile embedded with radiation seeds (Cesium-131) for treating brain tumors. This innovative solution delivers targeted radiation directly to the tumor cavity, reducing recurrence and minimizing exposure to healthy tissue.

GT MedTech, backed by investors like MVM Partners and Glide Healthcare Partners, will use the loan for growth and working capital. The FDA-cleared GammaTile aims to transform brain tumor treatment standards while offering a cost-effective reimbursement profile for hospitals.

GT Medical Technologies, Inc. has secured a $35 million venture loan facility from Horizon Technology Finance (NASDAQ: HRZN), with an initial funding of $15 million. The company plans to use the proceeds to execute strategic commercial and clinical expansion plans for GammaTile®, their innovative targeted radiation solution for brain tumors. GammaTile is a bioresorbable collagen tile embedded with Cesium-131 seeds, delivering high-dose radiation directly to tumor cavities while minimizing damage to healthy tissue.

GT MedTech aims to improve access to care and expand GammaTile utilization for patients with high-grade gliomas, brain metastases, and aggressive meningiomas. The company is backed by notable investors, including MVM Partners and Glide Healthcare Partners, and plans to invest more resources into GammaTile's development and expand its commercial teams nationwide.

Vesta Healthcare, a virtual care provider for people with home care, has secured $65 million in Series C funding. The equity round was led by RA Capital Management, with participation from various investors including Oak HC/FT, Chrysalis Ventures, and CareCentrix/Walgreens. Horizon Technology Finance provided debt financing.

Vesta Healthcare serves over 50,000 people, connecting patients, family, caregivers, home care agencies, providers, and insurance plans. Their technology and services span from home-based primary care to passive monitoring, aiming to help people with home care live longer, healthier lives at home.

The company plans to use this funding to propel growth and continue improving healthcare outcomes for those with home care needs.

Horizon Technology Finance (NASDAQ: HRZN) has provided a $35 million venture loan facility to Vesta Healthcare, with $25 million initially funded. Vesta Healthcare is a tech-enabled clinical services company that integrates caregivers, patients, and healthcare systems to monitor chronic conditions of high-risk patients. The company aims to reduce hospital admissions and emergency visits through 24/7 clinical support and advanced analytics, ultimately minimizing unnecessary care utilization and generating cost savings.

Vesta Healthcare is backed by notable investors including RA Capital Management, Oak HC/FT, and Kaiser Permanente Ventures. The loan proceeds will be used for general growth and working capital purposes. This funding supports Vesta's mission to deliver value-based health programs and keep high-risk patients safely in their homes, enhancing their quality of life.

Horizon Technology Finance Management, the manager and adviser for Horizon Technology Finance (NASDAQ: HRZN), has announced four senior promotions within its origination team. These promotions aim to enhance the company's origination capabilities and portfolio management to better serve existing and potential borrowers and their venture investors.

The promotions include:

• Kevin May as Head of Originations, SVP and Senior Managing Director
• Mishone Donelson as Head of Life Science Lending, SVP and Senior Managing Director
• Todd McDonald as Head of Technology Lending and Senior Managing Director
• Kevin Walsh as Head of Portfolio Management and Senior Managing Director

These new roles are designed to strengthen Horizon's market presence and execution of its venture lending strategy across all platforms and geographies.

Horizon Technology Finance (NASDAQ: HRZN) has announced monthly cash distributions of $0.11 per share for October, November, and December 2024, totaling $0.33 per share. The company, which provides secured loans to venture capital-backed companies in technology, life science, healthcare information and services, and sustainability industries, has paid a total of $274 million in distributions since its 2010 IPO. The distributions will be payable on October 16, November 14, and December 13, 2024, with corresponding ex-dividend and record dates. Horizon maintains a Dividend Reinvestment Plan (DRIP) for stockholders who haven't opted out, allowing for automatic reinvestment of distributions into additional shares of common stock.

Horizon Technology Finance (NASDAQ: HRZN) reported its Q2 2024 financial results. Key highlights include a net investment income (NII) of $12.9 million or $0.36 per share, down from $16.1 million or $0.54 per share in Q2 2023. The net asset value (NAV) per share stands at $9.12. The company has a debt portfolio yield of 15.9% and ended the quarter with a $138 million committed backlog. Horizon declared monthly distributions totaling $0.33 per share through December 2024.

In Q2 2024, total investment income was $25.7 million, compared to $28.1 million in Q2 2023. Expenses increased to $12.4 million from $11.9 million. Horizon funded four loans totaling $11.5 million and raised $17.1 million through its ATM offering. The company also secured a new $100 million credit facility and had $116.9 million in cash and $269 million in credit facility capacity. Unrealized depreciation on investments was $24.5 million, contrasting with $0.6 million appreciation in the prior-year period.

The company sees potential for portfolio growth in the second half of 2024.