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.
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Horizon Technology Finance Corporation (NASDAQ: HRZN) announced the release date for its first quarter financial results for 2023, set for May 2, 2023, after market close. The company specializes in providing secured loans to venture-backed firms in technology and life sciences. A conference call to discuss the results will be held on May 3, 2023, at 9:00 a.m. ET, featuring executives including Chairman Robert D. Pomeroy, Jr. Investors can listen to the call through a live webcast on the company's website, with an archive available for 30 days. Horizon aims to maximize returns through debt investments and capital appreciation from warrants. For more information, visit horizontechfinance.com.
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.