Horizon Techn Stock Price, News & Analysis

Horizon Technology Finance reported strong second quarter 2022 results with a net investment income (NII) of $8.6 million, or $0.35 per share, up from $6.1 million the previous year. The total investment portfolio rose by 43% to a record $577 million. The company declared regular monthly distributions of $0.30 per share and ended the quarter with a net asset value (NAV) of $290.6 million, or $11.69 per share. The debt portfolio yield was 14.2%. Despite a challenging macroeconomic environment, Horizon maintained a steady credit profile, with 96% of its loan portfolio rated 3 or better.

Horizon Technology Finance Corporation (NASDAQ: HRZN) plans to announce its financial results for the second quarter ending June 30, 2022, on August 2, 2022. A conference call will follow on August 3, 2022, at 9:00 a.m. ET, featuring remarks from key executives including Robert D. Pomeroy, Jr., CEO, and Gerald A. Michaud, President. Investors can participate via telephone or listen to a live webcast on the company's website. Horizon specializes in secured loans for venture-backed companies in technology and life sciences.

Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a record-setting second quarter for 2022, originating $192 million in new loans, with $137 million designated for HRZN. The committed backlog reached a record $267 million, including $221 million for HRZN. Notably, HRZN received $57 million in loan prepayments, validating its pricing strategy. The company's focus remains on meeting the ongoing demand for venture debt, positioning HRZN for continued growth and value creation for shareholders.

Horizon Technology Finance Corporation (NASDAQ: HRZN) and Trinity Capital Inc. (NASDAQ: TRIN) have provided an additional $20 million venture loan to Nexii Building Solutions Inc., a green construction company. This follows previous loans totaling $40 million. The latest funding includes $10 million from Horizon and $5 million from a private investment vehicle managed by Horizon, alongside $5 million from Trinity. Nexii plans to utilize the funds for growth and working capital, including the construction of a U.S. manufacturing facility.

Green construction company Nexii Building Solutions has announced a C$45 million (US$35 million) funding round, led by Horizon Technology Finance Corporation (NASDAQ: HRZN) and Trinity Capital Inc. (NASDAQ: TRIN). This investment will boost Nexii's growth and manufacturing capabilities to fulfill rising demand for sustainable construction. With this funding, Nexii's valuation exceeds C$2.05 billion. The company's innovative materials and solutions significantly reduce waste and carbon emissions in construction, positioning it as a leader in the industry.

Horizon Technology Finance Corporation (NASDAQ: HRZN) closed a $45 million venture loan facility to Swift Health Systems, Inc. (InBrace) on July 11, 2022. Horizon funded $7 million of the initial $10 million draw. InBrace's Smartwire® technology offers a hidden teeth straightening solution that improves patient experience, eliminating monthly adjustments. The company aims to disrupt the $40 billion orthodontic market and plans to use the loan for growth and working capital. Horizon's objective is to maximize returns through secured loans to venture-backed firms.

Divergent Technologies Inc. announced the closing of a $60 million venture loan facility led by Horizon Technology Finance Corporation (NASDAQ: HRZN) and a $20 million revolving line of credit from Bridge Bank (NYSE: WAL). These new funding sources follow a successful $160 million Series C funding earlier this year. The venture loan will provide additional funding based on milestones, while the line of credit will aid in growth and working capital. Divergent focuses on revolutionizing automotive manufacturing through its innovative Divergent Adaptive Production System (DAPS).

IMV Inc. has successfully accessed the remaining $10 million under its $25 million debt facility with Horizon Technology Finance. This funding follows the milestone achievement of site activation in its Phase 2b AVALON trial for platinum-resistant ovarian cancer. The financing strengthens IMV's balance sheet, enabling continued development of its lead compound targeting Diffuse Large B-Cell Lymphoma (DLBCL) and ovarian cancer. The facility supports ongoing clinical developments and general working capital.

Horizon Technology Finance Corporation (Nasdaq: HRZN) announced the pricing of a public offering of $50 million in notes due June 2027, resulting in net proceeds of approximately $48.25 million. The notes will bear an interest rate of 6.250% per year with the first payment on September 30, 2022, and will be redeemable after June 15, 2024. The offering is set to close on June 15, 2022, with proceeds earmarked for reducing borrowings from KeyBank and general corporate purposes. The company has also provided underwriters an option to purchase an additional $7.5 million in notes.