FARMINGTON, Conn., Aug. 1, 2023
/PRNewswire/ -- Horizon Technology Finance Corporation
(NASDAQ: HRZN) ("Horizon") (the "Company"), a leading specialty
finance company that provides capital in the form of secured loans
to venture capital backed companies in the technology, life
science, healthcare information and services, and sustainability
industries, announced today that its board of directors has
declared monthly cash distributions of $0.11 per share, payable in each of October,
November and December 2023. The following table shows these
distributions, payable as set forth in the table below, total
$0.33 per share. Since its 2010
initial public offering, Horizon has paid a total of $226 million in distributions to its
shareholders.
Monthly Distributions Declared in Second Quarter 2023
Ex-Dividend
Date
|
Record Date
|
Payment Date
|
Amount per
Share
|
September 18,
2023
|
September 19,
2023
|
October 16,
2023
|
$0.11
|
October 17,
2023
|
October 18,
2023
|
November 15,
2023
|
$0.11
|
November 16,
2023
|
November 17,
2023
|
December 15,
2023
|
$0.11
|
|
|
Total:
|
$0.33
|
When declaring distributions, the Horizon board of directors
reviews estimates of taxable income available for distribution,
which may differ from consolidated net income under generally
accepted accounting principles due to (i) changes in unrealized
appreciation and depreciation, (ii) temporary and permanent
differences in income and expense recognition, and (iii) the amount
of spillover income carried over from a given year for distribution
in the following year. The final determination of taxable income
for each tax year, as well as the tax attributes for distributions
in such tax year, will be made after the close of the tax year.
Horizon maintains a "Dividend Reinvestment Plan" ("DRIP") that
provides for the reinvestment of distributions on behalf of its
stockholders, unless a stockholder has elected to receive
distributions in cash. As a result, if Horizon declares a
distribution, its stockholders who have not "opted out" of the DRIP
by the distribution record date will have their distribution
automatically reinvested into additional shares of Horizon's common
stock. Horizon has the option to satisfy the share requirements of
the DRIP through the issuance of new shares of common stock or
through open market purchases of common stock by the DRIP plan
administrator. Newly-issued shares will be valued based upon the
final closing price of Horizon's common stock on a specified
valuation date for each distribution as determined by Horizon's
board of directors. Shares purchased in the open market to satisfy
the DRIP requirements will be valued based upon the average price
of the applicable shares purchased by the DRIP plan administrator,
before any associated brokerage or other costs, which are borne by
Horizon.
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a
leading specialty finance company that provides capital in the form
of secured loans to venture capital backed companies in the
technology, life science, healthcare information and services, and
sustainability industries. The investment objective of Horizon is
to maximize its investment portfolio's return by generating current
income from the debt investments it makes and capital appreciation
from the warrants it receives when making such debt investments.
Horizon is headquartered in Farmington,
Connecticut, with a regional office in Pleasanton, California, and investment
professionals located in Austin,
Texas, Chicago, Illinois,
Reston, Virginia and Portland, Maine. To learn more, please visit
horizontechfinance.com.
Forward-Looking Statements
Statements included herein may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements other than statements of historical
facts included in this press release may constitute forward-looking
statements and are not guarantees of future performance, condition
or results and involve a number of risks and uncertainties. Actual
results may differ materially from those in the forward-looking
statements as a result of a number of factors, including those
described from time to time in Horizon's filings with the
Securities and Exchange Commission. Horizon undertakes no duty to
update any forward-looking statement made herein. All
forward-looking statements speak only as of the date of this press
release.
Contacts:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
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SOURCE Horizon Technology Finance Corporation