Horizon Techn Stock Price, News & Analysis

Horizon Technology Finance Corporation (NASDAQ: HRZN) will celebrate its 12th anniversary on NASDAQ by ringing the Closing Bell on November 8, 2022, at 4:00 pm ET. CEO Robert D. Pomeroy, Jr. highlighted the increased demand for secured loans from venture-backed companies, having invested over $2 billion since its IPO in 2010. The event aims to honor the company's partnership with NASDAQ, enhancing its reputation among founders and investors. A live webcast of the ceremony will be available online.

Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a 10% increase in monthly cash distributions to $0.11 per share for January, February, and March 2023, alongside a special distribution of $0.05 per share payable in December 2022. The total distributions amount to $0.38 per share. Since its IPO in 2010, Horizon has paid $197 million in distributions. The company also offers a Dividend Reinvestment Plan (DRIP) for shareholders to reinvest distributions into additional shares.

Horizon Technology Finance reported third-quarter 2022 net investment income of $11.1 million ($0.43 per share), surpassing $8.0 million ($0.40 per share) from last year. The total investment portfolio reached $635 million, a 40% year-over-year increase. The debt portfolio yield was 15.9%, while net assets stood at $307.7 million ($11.66 per share). The company announced a 10% increase in monthly distributions to $0.11 per share starting January 2023, alongside a special $0.05 distribution in December 2022. As of September 30, 2022, Horizon had $31.6 million in cash and $120.8 million in credit facility capacity.

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced the pricing of its loan securitization, Horizon Funding Trust 2022-1. This private securitization involves selling approximately $160 million in loans, with expected proceeds of $98.8 million, closing on November 9, 2022. The securitization will issue $100 million in rated notes at a 7.6878% interest rate. A reserve account will also be funded at 0.75% of the principal balance to enhance credit quality. The notes will be sold under Rule 144A and Regulation S, meaning they are not registered under U.S. securities laws.

Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a $17 million venture loan facility to Robin Healthcare, Inc., securing an initial funding of $7 million. This funding will support Robin's innovative healthcare management system, which utilizes AI to enhance doctor-patient interactions by streamlining data entry and clinical note creation. Robin aims to allow physicians to focus more on patient care while improving coding accuracy for payors. The collaboration is expected to drive growth for both companies.

Horizon Technology Finance Corporation (NASDAQ: HRZN) will release its third-quarter financial results for 2022 on November 1, 2022, after market close. A conference call is scheduled for November 2, 2022, at 9:00 a.m. ET, featuring key executives including CEO Robert D. Pomeroy, Jr. Investors can participate via phone or a live webcast available on Horizon's website. The company focuses on providing secured loans to venture-capital-backed firms in technology and healthcare sectors, aiming for income generation and capital appreciation.

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $30 million growth capital credit facility to Kodiak Robotics, a leader in autonomous long-haul trucking. This funding aims to enhance Kodiak's operations, which already deliver freight across Texas and Oklahoma for key partners. Horizon's investment strategy focuses on maximizing returns through secured loans to venture-backed companies in tech and related fields. The collaboration signifies Horizon's commitment to supporting innovative freight solutions that aim to improve safety and efficiency in supply chains.

IMV Inc. provides an update on its Phase 2B trials for MVP-S, showing significant progress in patient recruitment for VITALIZE and AVALON studies. VITALIZE, investigating MVP-S with Keytruda for DLBCL, is expected to yield first results by Q3 2022. AVALON has dosed its first patient, targeting platinum-resistant ovarian cancer, with early data anticipated in H1 2023. The company reported a net loss of $9.9 million for Q2 2022, increasing from $7.4 million YoY. As of June 30, 2022, IMV had $31.1 million in cash, projecting funds into Q2 2023.

On August 8, 2022, InBrace, an orthodontic company, announced securing $45 million in financing led by Horizon Technology Finance Corporation (NASDAQ: HRZN). This funding is intended to enhance InBrace's market penetration in the $40 billion orthodontics industry, building on a previous $100 million Series D funding. CEO Clint Carnell emphasized that this financing reflects investor confidence in InBrace's innovative Smartwire® technology, which offers a discreet and efficient teeth-straightening solution. The capital will support the expansion of InBrace's direct-to-consumer marketing initiatives and InStudio experience centers.