HRZN - Horizon Technology Finance raises $34.3M in Q1 stock offering

Specialty finance company Horizon Technology Finance (NASDAQ:HRZN) raised $34.3M in net proceeds in Q1 common stock offering. Q1 expenses increased Y/Y to $8.4M from $7.2M. The primary reason was a $0.7M increase in interest expense and a $0.5M increase in the base management fee. Q1 NII was $0.26, total investment income was $14.2M (+7.4% Y/Y). The company declared $0.10/share monthly dividend, in line with previous. As of Mar. 31, the company had $80.0M in available liquidity, consisting of $14.5M in cash and money market funds, and $65.5M in funds available under existing credit facility commitments. HRZN experienced liquidity events, which generally comprise sale of warrants or equity in portfolio companies, loan prepayments, sale of owned assets or receipt of success fees, from 2 portfolio companies.

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Horizon Technology Finance raises $34.3M in Q1 stock offering