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) 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.
Horizon Technology Finance Corporation (NASDAQ: HRZN) announced the issuance of $100 million in Notes at a 7.56% fixed interest rate, rated A by a rating agency. These Notes are backed by $158 million in secured loans from Horizon. The transaction, facilitated by KeyBanc Capital Markets, enhances Horizon's capacity to originate new venture debt loans and aims to increase shareholder value. The Notes mature on November 15, 2030, but will not be registered under the Securities Act, restricting their sale in the U.S. without appropriate exemptions.
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.