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.

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

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