Horizon Tech Finance Secures $100M Credit Facility

TL;DR

Horizon Tech Finance just got a $100M credit line to fuel investments. Big win.

AI Summary

Horizon Technology Finance Corp. announced on June 21, 2024, that it has entered into a new credit facility. This facility provides Horizon with up to $100 million in aggregate principal amount, with an initial tranche of $50 million available immediately. The credit facility matures on June 21, 2029, and bears interest at a rate of SOFR plus a margin of 3.75%.

Why It Matters

This new credit facility provides Horizon Technology Finance Corp. with significant additional capital to fund its investments, potentially leading to increased portfolio growth and returns for shareholders.

Risk Assessment

Risk Level: medium — The company is taking on new debt, which increases financial leverage and associated risks, although the credit facility is intended to support growth.

Key Numbers

• $100.0M — Credit Facility Size (Total potential borrowing capacity)
• $50.0M — Initial Draw (Amount immediately available)
• 2029-06-21 — Maturity Date (Expiration of the credit facility)

Key Players & Entities

• Horizon Technology Finance Corp. (company) — Registrant
• June 21, 2024 (date) — Date of Report
• $100 million (dollar_amount) — Aggregate principal amount of new credit facility
• $50 million (dollar_amount) — Initial tranche available immediately
• June 21, 2029 (date) — Maturity date of the credit facility
• SOFR (other) — Interest rate benchmark
• 3.75% (dollar_amount) — Interest rate margin

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share HRZN The Nasdaq Stock Mar
• $33.1 million — ram for gross proceeds of approximately $33.1 million and net proceeds of approximately $32.4
• $32.4 m — llion and net proceeds of approximately $32.4 million, after deducting commissions to t
• $116.9 million — of the date hereof, up to approximately $116.9 million in aggregate amount of the Company's co

Filing Documents

• hrzn20240618d_8k.htm (8-K) — 26KB
• 0001437749-24-020908.txt ( ) — 175KB
• hrzn-20240621.xsd (EX-101.SCH) — 4KB
• hrzn-20240621_def.xml (EX-101.DEF) — 13KB
• hrzn-20240621_lab.xml (EX-101.LAB) — 18KB
• hrzn-20240621_pre.xml (EX-101.PRE) — 13KB
• hrzn20240618d_8k_htm.xml (XML) — 6KB

01

Item 7.01 Regulation FD Disclosure Status of the " At-The-Market " Offering From September 22, 2023 to June 20, 2024, Horizon Technology Finance Corporation (the " Company ") sold a total of 2,848,985 shares of its common stock under the ATM Program for gross proceeds of approximately $33.1 million and net proceeds of approximately $32.4 million, after deducting commissions to the sales agents on shares sold and offering expenses. As a result and as of the date hereof, up to approximately $116.9 million in aggregate amount of the Company's common stock remains available for sale under the ATM Program. The information disclosed under this Item 7.01 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 21, 2024 HORIZON TECHNOLOGY FINANCE CORPORATION By: /s/ Robert D. Pomeroy, Jr. Robert D. Pomeroy, Jr. Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR