This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Horizon Technology Finance Provides Investment Portfolio Update For First Quarter 2013

FARMINGTON, Conn., April 3, 2013 (GLOBE NEWSWIRE) -- Horizon Technology Finance Corporation (Nasdaq:HRZN) (the "Company" or "Horizon"), a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services and clean-tech industries, today provided a portfolio update for the first quarter of 2013.

"During the first quarter, we continued to expand our earning assets and maintained the strong overall quality of our investment portfolio," said Gerald A. Michaud, President of Horizon. "We are pleased to have funded a total of $28.5 million in venture loans to a diverse mix of five new portfolio companies and two existing portfolio companies in the quarter. This performance, combined with scheduled amortization of investments and no loan prepayments in the first quarter, led to an ending loan portfolio balance of approximately $238 million, an increase of 7.7% over the prior quarter. While we continue to achieve steady growth amid strong competition and an uncertain macro environment, our focus remains on deploying capital in a disciplined manner, taking advantage of select market opportunities that meet our risk-return requirements, and strengthening Horizon's leading venture lending franchise."

New Loans Funded

New loans funded during the first quarter of 2013 totaled approximately $28.5 million. During the first quarter of 2013, Horizon provided funding to the following new and existing portfolio companies:

  • $4.0 million to Decisyon, Inc., a new portfolio company. Decisyon is a provider of collaborative enterprise software solutions to Global 1000 companies.
  • $4.0 million to Lotame Solutions, Inc., a new portfolio company. Lotame is the leading data management platform for publishers, ad networks and marketers.     
  • $5.0 million to Raydiance, Inc., a new portfolio company. Raydiance is a developer of precision manufacturing solutions enabled by femtosecond laser technology.
  • $7.0 million to a new portfolio company which is a healthcare information and services technology company focused on the sleep breathing disorders market.
  • $1.0 million to a new portfolio company that has developed a SaaS platform providing mobility management solutions for enterprises.
  • $2.5 million to an existing portfolio company which develops novel transcatheter heart valve technologies.
  • $5.0 million to an existing portfolio company which has developed a technology to process biomass into fuel for clean technology applications.  

Refinances, Principal Payments Received, Early Payoffs

During the quarter ended March 31, 2013, Horizon had no refinanced balances and no early pay-offs compared to the quarter ended December 31, 2012, wherein Horizon refinanced balances totaling $14.6 million and experienced early pay-offs totaling $26.6 million. During the quarter ended March 31, 2013, Horizon received principal payments on investments totaling approximately $10.0 million compared to the quarter ended December 31, 2012, wherein Horizon received principal payments on investments totaling $10.6 million.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs