Horizon Technology reports Q3 NII 32c per share vs. 53c last year

“We had a solid third quarter, as we originated a number of new, high-quality loans that returned our portfolio to quarter-over-quarter growth, while we saw the venture debt market begin to improve,” said Robert D. Pomeroy, Jr., CEO. “Our net investment income for the quarter was just one cent below our distributions for the quarter, as we grew our portfolio with quality investments to ensure that our portfolio will generate net investment income to cover our distributions over time. We also further strengthened our balance sheet, raising over $18 million through our ATM program in the quarter and, subsequent to the end of the quarter, completing a private $20 million convertible notes offering, both of which provide us with additional capital to execute on additional originations,” added Mr. Pomeroy. “Looking forward, we expect to grow our portfolio through high-quality investments, while we focus on maximizing the value of our existing investments.”