Business
Horizon Technology Finance Corporation Announces Third Quarter 2021 Financial Results
- Net Investment Income per Share of $0.40; NAV per Share of $11.63 - - Debt Portfolio Yield of 16.2% - - Declares Regular Monthly Distributions of $0.10 per
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"- Net Investment Income per Share of $0.40; NAV per Share of $11.63 -\n - Debt Portfolio Yield of 16.2% -\n - Declares Regular Monthly Distributions of $0.10 per Share through March 2022 and $0.05 Special Distribution Payable in December 2021 -\n - Grew Portfolio to Record $452 Million -\n\n\nFARMINGTON, Conn., Oct. 26, 2021 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) (\"HRZN\" 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 third quarter ended September 30, 2021.\nThird Quarter 2021 Highlights\nNet investment income (\"NII\") of $8.0 million, or $0.40 per share, compared to $5.9 million, or $0.34 per share for the prior-year period Total investment portfolio of $452.3 million as of September 30, 2021 Net asset value of $237.6 million, or $11.63 per share, as of September 30, 2021 Annualized portfolio yield on debt investments of 16.2% for the quarter HRZN funded 15 loans totaling $98.9 million HRZN's investment adviser, Horizon Technology Finance Management LLC (\"HTFM\"), originated $141.4 million through its lending platform (\"Horizon Platform\"), inclusive of the HRZN loans Raised total net proceeds of approximately $6.6 million with \"at-the-market\" (\"ATM\") offering program Experienced liquidity events from five portfolio companies Cash of $42.9 million and credit facility capacity of $121.8 million as of September 30, 2021 Held portfolio of warrant and equity positions in 74 companies as of September 30, 2021 Undistributed spillover income of $0.44 per share as of September 30, 2021 Subsequent to quarter end, declared monthly distributions of $0.10 per share payable in January, February and March 2022 and a special distribution of $0.05 per share payable in December 2021\"We had an excellent third quarter, as HRZN generated net investment income of $0.40 per share, significantly grew its portfolio and increased its NAV per share,\" said Robert D. Pomeroy, Jr., Chairman and Chief Executive Officer of HRZN. \"The momentum of the 'Horizon' brand and the Horizon Platform continued to accelerate, which was clearly evidenced by HRZN's quarterly record of $99 mi...