HRZN - Horizon Technology Finance originates 12% more new loans in Q2
2023-07-12 16:47:09 ET
Horizon Technology Finance ( NASDAQ: HRZN ) said Wednesday its lending platform, Horizon Platforms, originated $52.7M of new loans in Q2, up from the $47M originated in the prior quarter.
The Q2 figure includes $49.6M of new loans funded by Horizon ( HRZN ).
In addition, Horizon Platforms ended the quarter with a committed backlog of debt investments at $183M, including $159M in HRZN commitments.
"During the quarter we received $28 million in loan payoffs and partial paydowns along with proceeds from warrant redemptions and earnouts, providing us with accelerated income, which further validated our predictive pricing strategy," said Gerald A. Michaud, President of HRZN and HTFM.
Also during Q2, HRZN closed new loan commitments totaling $73.6M to six companies, compared with new loan commitments of $31.4M to three companies in Q1.
As of June 30, HRZN held a portfolio of warrant and equity positions in 97 portfolio companies, including 81 private companies.
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Horizon Technology Finance originates 12% more new loans in Q2