Horizon Techn (HRZN) Stock News

Horizon Technology Finance Corporation (NASDAQ: HRZN) reported its first-quarter 2023 portfolio update, highlighting the origin of $47 million in loans, with $40 million allocated specifically for HRZN. As of March 31, 2023, the company maintained a robust committed backlog of $218 million, including $187 million directly tied to HRZN. The quarter also saw $29 million in loan payoffs, boosting income and prepayment fees. Notably, new loan commitments totaled $31.4 million, down from $102.6 million in the previous quarter. However, HRZN's liquidity improved significantly, capturing $32.1 million from liquidity events. The company remains well positioned for future investments despite a challenging economic climate.

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced monthly cash distributions of $0.11 per share for April, May, and June 2023, totaling $0.33 per share. This decision follows a review of taxable income estimates by the board of directors. Since its IPO in 2010, Horizon has disbursed $210 million in distributions to shareholders. The company also offers a Dividend Reinvestment Plan (DRIP) for shareholders who prefer to reinvest their distributions. The ex-dividend and record dates for each distribution are specified in the announcement, enabling investors to plan accordingly.

Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a strong performance for Q4 2022, achieving a net investment income (NII) of $10.7 million, or $0.40 per share, and a record portfolio growth of 57% year-over-year, reaching $720 million. The annual debt portfolio yield was 14.4%. The company ended 2022 with a net asset value of $318.4 million, or $11.47 per share, and declared monthly distributions totaling $0.33 per share for Q1 2023. Horizon's successful issuance of $100 million in asset-backed notes and robust backlog of $255 million positions it well for future growth.

Monroe Capital has announced a definitive agreement to acquire Horizon Technology Finance Management, the advisor to Horizon Technology Finance Corporation (NASDAQ: HRZN). This acquisition is part of Monroe's strategy to expand its presence in the venture lending sector. Horizon has committed over $3 billion in loans across more than 315 companies, leveraging its expertise in technology and venture capital. Monroe aims to enhance its investment offerings, providing differentiated products to institutional investors. The transaction is expected to significantly benefit both firms, allowing for expanded market leadership in venture debt.

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a definitive agreement for Monroe Capital LLC to acquire Horizon Technology Finance Management LLC (HTFM), its investment adviser. This transaction, which requires stockholder approval, aims to enhance shareholder value by accessing Monroe Capital's extensive fundraising capabilities. HTFM's management will remain in their roles, with the expectation of maintaining and expanding venture lending strategies. Monroe Capital, with approximately $16 billion in assets, anticipates that this acquisition will provide a broader range of investment opportunities, enhancing returns and reducing expenses through economies of scale.

Horizon Technology Finance Corporation (NASDAQ: HRZN) will release its fourth-quarter financial results for the period ending December 31, 2022, on February 28, 2023, after market close. A conference call to discuss the results is scheduled for March 1, 2023, at 9:00 a.m. ET. Key executives including Robert D. Pomeroy Jr., Gerald A. Michaud, and Daniel R. Trolio will lead the call. Investors can participate via phone or listen through a live webcast on the company's website. Horizon specializes in providing secured loans to venture capital-backed companies in technology, life sciences, and sustainability sectors.

Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a strong portfolio update for Q4 2022, originating $114 million in loans, with $104 million specifically for HRZN. The company achieved a total loan portfolio growth of $262 million for the year. The committed backlog reached $255 million, including $220 million in HRZN commitments. Over the entire year, the Horizon Platform originated a record $543 million in new loans. Key loans included $45 million to Evelo Biosciences (NASDAQ: EVLO) among others.

Slingshot Aerospace raised $40.85 million in an oversubscribed Series A2 funding round led by Sway Ventures. The funds will enhance Slingshot's global expansion across commercial, civil, and defense sectors, support its recent acquisitions, and accelerate product commercialization. This financing marks a significant step for Slingshot, which aims to address the growing demand for space safety solutions, given the projected increase in satellites in orbit.

Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a venture loan facility to Groundspeed Analytics, Inc., a company specializing in AI-driven solutions for the commercial P&C insurance sector. The funding will support Groundspeed's expansion and operational needs. Groundspeed's platform enhances underwriting efficiency for insurance carriers, allowing for faster and more accurate risk assessments. Horizon's President highlighted the importance of this partnership in supporting innovation within the insurance industry.