Business
Horizon Technology Finance Provides Third Quarter 2021 Portfolio Update
- Horizon Platform Originates Record $141 Million of New Loans - - Record $99 Million of Originations for HRZN - - Horizon Platform Committed Backlog of $123
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"- Horizon Platform Originates Record $141 Million of New Loans -\n - Record $99 Million of Originations for HRZN -\n - Horizon Platform Committed Backlog of $123 Million; $101 Million in HRZN Commitments -\n\n\nFARMINGTON, Conn., Oct. 6, 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 provided its portfolio update for the third quarter ended September 30, 2021 and an update on the lending platform (\"Horizon Platform\") of Horizon Technology Finance Management LLC (\"HTFM\"), its investment adviser. \n\"We had an excellent third quarter as the power of the 'Horizon' brand and Horizon's lending platform led to a quarterly record of $141 million of loan originations, including $99 million of loans for HRZN,\" said Gerald A. Michaud, President of HTFM. \"The Horizon Platform also ended the quarter with a committed backlog of $123 million of debt investments, including $101 million in HRZN commitments, a reflection of the fact that emerging and innovative companies and their investors continue to find Horizon's venture loans the right solution for their capital needs. We are pleased the expanded funding capacity of the Horizon Platform resulted in the generation of high-quality loans for HRZN, while maintaining a diverse portfolio of debt investments for HRZN.\" \n\"In addition, HRZN received $50 million in loan prepayments during the quarter, providing additional fee income and accelerated interest income and further validating our predictive pricing strategy,\" added Mr. Michaud. \"With HRZN's committed backlog and the large pipeline of new investment opportunities under the Horizon Platform, we expect HRZN's portfolio to continue growing and delivering value to HRZN's shareholders.\" \nThird Quarter 2021 Portfolio Update\nOriginations \nDuring the third quarter of 2021, a total of $141.4 million of loans funded through the Horizon Platform, including 15 loans totaling $98.9 million funded by HRZN as follows:\n$22.5 million to a new portfolio company, Nexii Building Solutions Inc., a green construction technology company focused on creating environ...