Horizon Technology reports Q3 NII 53c, consensus 41c

Reports net asset value of $346.6M, or $10.41 per share, as of September 30. “In the third quarter, our debt portfolio yield of over 17% continued to generate net investment income that exceeded our distributions, while we opportunistically added select venture debt investments to our portfolio and committed backlog,” said Robert Pomeroy, Jr., Chairman and CEO of Horizon. “We also raised equity of $13.9 million from the sale of our common stock through our ATM, which provides additional liquidity to make new debt investments.” “In terms of credit, our NAV per share was impacted in the quarter by stressed investments. We continue to work diligently to ensure optimal outcomes for all of our investments,” continued Pomeroy. “As we close out the year, in light of the current macro environment, persistent inflation and reduced venture investing, we will remain cautious with respect to growing HRZN‘s portfolio of debt investments, but believe that there remain select excellent investment opportunities.”