Business
Horizon Technology Finance Announces Fourth Quarter and Full Year 2021 Financial Results
- Fourth Quarter 2021 Net Investment Income per Share of $0.39; NAV per Share of $11.56 - - Annual Debt Portfolio Yield of 15.7% in 2021 - - Declares Regular
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"- Fourth Quarter 2021 Net Investment Income per Share of $0.39; NAV per Share of $11.56 -\n - Annual Debt Portfolio Yield of 15.7% in 2021 -\n - Declares Regular Monthly Distributions Totaling $0.30 per Share -\n - Horizon Platform Ends 2021 with Committed Backlog of $155 Million, Including $127 Million in HRZN Commitments -\n - Grew Portfolio Year over Year by 30% to $458 Million -\n\n\nFARMINGTON, Conn., March 1, 2022 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) (\"HRZN\", \"Horizon\" or the \"Company\"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, today announced its financial results for the fourth quarter and full year ended December 31, 2021.\nFourth Quarter 2021 Highlights\nNet investment income (\"NII\") of $8.1 million, or $0.39 per share, compared to $3.9 million, or $0.21 per share for the prior-year period Total investment portfolio of $458.1 million as of December 31, 2021 Net asset value of $245.3 million, or $11.56 per share, as of December 31, 2021 Annualized portfolio yield on debt investments of 16.2% for the quarter HRZN funded 17 loans totaling $79.9 million HRZN's investment adviser, Horizon Technology Finance Management LLC (\"HTFM\"), originated $118.2 million through its lending platform (\"Horizon Platform\"), inclusive of the HRZN loans Raised total net proceeds of approximately $12.8 million with \"at-the-market\" (\"ATM\") offering program Experienced liquidity events from seven portfolio companies Cash of $45.9 million and credit facility capacity of $92.8 million as of December 31, 2021 Held portfolio of warrant and equity positions in 76 companies as of December 31, 2021 Undistributed spillover income of $0.51 per share as of December 31, 2021 Subsequent to quarter end, declared distributions of $0.10 per share payable in April, May and June 2022 Full Year 2021 Highlights\nNet investment income of $28.2 million, or $1.41 per share for 2021, compared to $20.7 million, or $1.18 per share, for the prior year Achieved portfolio yield on debt investments of 15.7% for 2021 HRZN funded 49 loans totaling $297.1 million; experienced liquidity events from 20 portfolio companies\"The fourth quarter capped of...