HRZN
Horizon Technology Finance Corporation6.54
+0.03+0.46%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Clarifies NII weakness, public lending ops.
Q&A clarified Q4 NII of $0.18/share fell versus prior quarters due to lighter prepayments and lower-fee refinancings, plus late-quarter fundings. Management touted a fertile market for less-dilutive venture debt to small public companies. Nonaccruals dropped QoQ after one resolved via acquisition at fair value, with work ongoing elsewhere. The board deems $0.06 monthly dividend sustainable based on run-rate, spillover, and pipeline. Prepayments disappointed. Answers largely reaffirmed prepared optimism on the MRCC merger and portfolio expansion. Investors will eye NII coverage post-merger.
Key Stats
Market Cap
290.27MP/E (TTM)
-Basic EPS (TTM)
-0.63Dividend Yield
0.2%Recent Filings
8-K
HRZN launches $100M JV
Horizon Technology Finance entered a JV agreement on March 18, 2026, with CR Financial Holdings to form HRZN CRFH LLC, committing $87.5M alongside CRFH's $12.5M for $100M total capital to fund growth loans to small- and micro-cap public companies. Equal board and unanimous investment committee governance ensures balanced control. Joint venture expands lending capacity.
8-K
Shareholders approve HRZN-MRCC merger
Horizon Technology Finance (HRZN) shareholders approved the common stock issuance for merging Monroe Capital (MRCC) on March 13, 2026, with over 83% support; MRCC shareholders backed the merger and prior asset sale to MCIP with 88% approval. Pre-merger, MRCC plans a $15.9M ($0.75/share) cash distribution to its holders; HRZN eyes $27.6M supplemental payouts post-close. Closing eyed within 30 days. Management fee waivers total $4M for first year.
8-K
Stockholders approve merger shares
Horizon Technology Finance stockholders overwhelmingly approved on March 13, 2026, the issuance of common shares under the Merger Agreement, with 19.3M for versus 3.8M against. They also elected Thomas J. Allison as Class I director, contingent on merger close. Stockholders spoke decisively. Approval paves way for the merger but hinges on closing conditions.
8-K
Proxy supplements merger projections
Horizon Technology Finance supplemented its joint proxy statement with standalone and pro forma projections for its pending merger with Monroe Capital Corporation, addressing shareholder lawsuits alleging disclosure gaps. Pro forma net investment income per share holds at $1.05 in 2026 before rising to $1.24 by 2030; NAV climbs from $6.55 to $7.89. Special meeting stays March 13. Litigation risks linger.
8-K
Q4 NII $0.18/share, NAV $6.98
Horizon Technology Finance reported Q4 2025 net investment income of $0.18 per share, down from $0.27 year-ago, with NAV at $6.98 per share on a $647.2M portfolio yielding 14.3%. Funded $102.5M in nine loans amid $23.3M realized losses, offset by $24.7M unrealized gains; portfolio grew via high-quality venture debt. Board eyes merger with MRCC for capital boost.
BCSF
Bain Capital Specialty Finance,
13.90+0.00
CCAP
Crescent Capital BDC, Inc.
14.84-0.05
HKHC
Horizon Kinetics Holding Corpor
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MRCC
Monroe Capital Corporation
6.34-0.13
NMFC
New Mountain Finance Corporatio
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OTF
Blue Owl Technology Finance Cor
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RWAY
Runway Growth Finance Corp.
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SVVC
Firsthand Technology Value Fund
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TRIN
Trinity Capital Inc.
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WHF
WhiteHorse Finance, Inc.
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