FARMINGTON, Conn., March 7, 2017 /PRNewswire/ -- Horizon
Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form
of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and
cleantech industries, announced today that its board of directors has declared monthly cash distributions of $0.10 per share payable in each of April, May and June 2017. These monthly
distributions, payable as set forth in the table below, total $0.30 per share. Including the
monthly distributions declared in the first quarter of 2017, Horizon has declared $9.32 per share
in cumulative distributions since its October 2010 initial public offering.
Monthly Distributions Declared in First Quarter
2017
|
Ex-Dividend Date
|
Record Date
|
Payment Date
|
Amount Per Share
|
|
March 16, 2017
|
March 20, 2017
|
April 18, 2017
|
$0.10
|
|
April 19, 2017
|
April 21, 2017
|
May 16, 2017
|
$0.10
|
|
May 17, 2017
|
May 19, 2017
|
June 15, 2017
|
$0.10
|
|
|
Total:
|
$0.30
|
When declaring distributions, the Horizon board of directors reviews estimates of taxable income available for distribution,
which may differ from consolidated net income under generally accepted accounting principles due to (i) changes in unrealized
appreciation and depreciation, (ii) temporary and permanent differences in income and expense recognition, and (iii) the amount
of spillover income carried over from a given year for distribution in the following year. The final determination of taxable
income for each tax year, as well as the tax attributes for distributions in such tax year, will be made after the close of the
tax year.
Horizon maintains a "Dividend Reinvestment Plan" ("DRIP") that provides for the reinvestment of distributions on behalf of its
stockholders, unless a stockholder has elected to receive distributions in cash. As a result, if Horizon declares a distribution,
its stockholders who have not "opted out" of the DRIP by the distribution record date will have their distribution automatically
reinvested into additional shares of Horizon's common stock. Horizon has the option to satisfy the share requirements of the
DRIP through the issuance of new shares of common stock or through open market purchases of common stock by the DRIP plan
administrator. Newly-issued shares will be valued based upon the final closing price of Horizon's common stock on a
specified valuation date for each distribution as determined by Horizon's board of directors. Shares purchased in the open market
to satisfy the DRIP requirements will be valued based upon the average price of the applicable shares purchased by the DRIP plan
administrator, before any associated brokerage or other costs, which are borne by Horizon.
About Horizon Technology Finance
Horizon Technology Finance Corporation is a leading specialty finance company that provides capital in the form of
secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and
cleantech industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current
income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt
investments. Headquartered in Farmington, Connecticut, Horizon has regional offices in
Pleasanton, California, Reston, Virginia and Boston, Massachusetts. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker
symbol "HRZN". To learn more, please visit www.horizontechfinance.com.
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute
forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and
uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of
factors, including those described from time to time in our filings with the Securities and Exchange Commission. Horizon
undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date
of this press release.
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SOURCE Horizon Technology Finance Corporation