Horizon Technology Finance Issues 2015 Update, Notes 20% Portfolio Growth

Horizon Technology Finance Corp HRZN, a specialty finance company that provides capital to healthcare related companies, announced after Wednesday's market close a portfolio update for the fourth quarter and full year 2015. Horizon Technology Finance said that it funded 7 new loans in the fourth quarter which totaled $18.5 million. For the full year 2015, the company funded 37 new loans totaling $123 million, marking a more than 20 percent portfolio growth. "During the fourth quarter, we continued to successfully execute our core investment strategy of directly originating high quality floating rate growth capital loans," said Gerald A. Michaud, President of Horizon. Horizon Technology Finance also noted that as of the end of the year, its unfunded loan approvals and commitments were $18.5 million to 7 companies, compared to a backlog of $22.5 million to 9 companies as of September 30, 2015. Finally, Horizon Technology Finance noted that it holds warrant and equity positions in 89 companies, including 76 private companies. Shares of Horizon Technology have lost nearly 25 percent over the past year.