Horizon Technology Finance Provides First Quarter 2024 Portfolio Update; Originates $33.5M Of New Loans In Q1; Ends Quarter With Committed Backlog Of $168M
Portfolio Pulse from Benzinga Newsdesk
Horizon Technology Finance Corporation (HRZN) reported its Q1 2024 portfolio update, highlighting $33.5 million in new loan originations and ending the quarter with a committed backlog of $168 million. The company experienced liquidity events from three portfolio companies, receiving principal prepayments and partial paydowns totaling $19.8 million. HRZN's unfunded loan approvals and commitments stood at $168.2 million to 14 companies as of March 31, 2024. The company also holds a portfolio of warrant and equity positions in 99 portfolio companies, indicating potential for future returns.
April 10, 2024 | 8:17 pm
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POSITIVE IMPACT
HRZN reported strong Q1 2024 performance with $33.5 million in new loans and a significant committed backlog, indicating a solid foundation for future growth and potential returns from its equity and warrant portfolio.
HRZN's Q1 2024 performance, highlighted by substantial new loan originations and a strong committed backlog, suggests a positive outlook for the company. The successful liquidity events and the strategic holding of a diverse warrant and equity portfolio further support the potential for future growth and returns. This combination of factors is likely to be viewed positively by investors, potentially leading to an increase in HRZN's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100