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Horizon Technology Finance Issues $33.6 Mln in 7 Loans During Q2; Gets $13.6 Mln From Liquidity Events


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Horizon Technology Finance Corp ( HRZN ) was steady in Wednesday's late session after the specialty finance company said it funded seven new loans totaling $33.6 million during fiscal Q2 ended June 30, up from five loans totaling $22 million in the year-ago period.

Horizon also experienced three liquidity events during the quarter, including NinePoint Medical in April pre-paying $4 million in principal remaining from its venture loan plus interest, an end-of-term payment and prepayment fee. MediaBrix, using proceeds from the May sale of the company, similarly pre-paid the $3.3 million it owed Horizon plus interest and an end-of-term payment. It also received a success fee from the MediaBrix acquirer in the form of stock. Also in May, SilkRoad Technology prepaid the $6.3 million in outstanding principal on its venture loan, plus interest, end-of-term payment and prepayment fee.

Overall, venture loan pre-payment generated $13.6 million for Horizon during the quarter, along with $5.4 million in regularly scheduled principal payments, which was down from $8.5 million in payments during Q2 in 2017. Horizon also held a equity portfolio of stock and warrants in 63 privately held companies as well as 14 publicly traded firms on June 30. That compares with a total of 77 portfolio companies also during the year-ago period, although it consisted of 64 private firms and 13 public companies.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , ETFs
Referenced Symbols: HRZN



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