HRZN

EX-99.1

2 ex_998180.htm

EXHIBIT 99.1

ex_998180.htm

Exhibit 99.1

Horizon Technology Finance Announces Second Quarter 2026 Financial Results

- Second Quarter 2026 Net Investment Income per Share of $0.11 (Inclusive of $0.07 per Share of Non-Recurring Merger Expenses); NAV per Share of $6.23 -

- Debt Portfolio Yield of 14.9% -

- Ends Quarter with Committed Backlog of $228 Million -

- Increases Company Stock Repurchase Agreement to Allow Purchases of Up to $20 Million -

Farmington, Connecticut – August 4, 2026 – Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital, today announced its financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 and Recent Highlights

●

Successfully completed merger with Monroe Capital Corporation (“MRCC”)

●

Net investment income (“NII”) of $7.4 million, or $0.11 per basic share (inclusive of $0.07 per basic share of non-recurring merger expenses), compared to $11.4 million, or $0.28 per basic share for the prior-year period

●

Total investment portfolio of $676.7 million as of June 30, 2026

●

Net asset value of $417.5 million, or $6.23 per share as of June 30, 2026

●

Annualized portfolio yield on debt investments of 14.9% for the quarter

●

Funded nine loans totaling $72.7 million

●

Experienced liquidity events from four portfolio companies

●

Cash of $135.0 million and credit facility capacity of $329.0 million as of June 30, 2026

●

Held portfolio of warrant and equity positions in 88 companies as of June 30, 2026

●

Undistributed spillover income of $0.33 per share as of June 30, 2026

●

Repurchased 1,365,222 shares of common stock at an average price of $4.54

●

Subsequent to quarter end, declared distributions of $0.06 per share payable in October, November and December 2026, and, in accordance with the Company’s previously announced intent to make additional distributions with its undistributed net investment income, or “spillover” income, special cash distributions of $0.03 per share payable in October, November and December 2026

“We were pleased to grow our debt investment portfolio for the third consecutive quarter, and to deliver NII which, excluding non-recurring merger expenses, covered our regular distributions,” said Mike Balkin, Chief Executive Officer of Horizon. “Unfortunately, we were disappointed to learn during June about some significant negative news for a single portfolio company, including the outlook for its future equity raising plans. This resulted in unrealized losses on our debt and equity investments in this company which contributed significantly to our decrease in net asset value per share at quarter end. Since the completion of the merger in April, we have been relentlessly working to source new, high-quality debt investment opportunities to deploy our capital and grow our portfolio, as evidenced by the increase in our committed backlog of approximately $50 million from our prior quarter-end. With our significantly stronger balance sheet and increasingly robust pipeline, we believe we remain in an excellent position to further grow our portfolio, and ultimately drive long-term value creation for shareholders, while we continue to be a leading financial partner to the innovation economy.”

Second Quarter 2026 Operating Results

Total investment income for the quarter ended June 30, 2026 was $25.0 million, compared to $24.5 million for the quarter ended June 30, 2025, primarily due to higher interest income, including PIK income, on debt investments from a larger debt investment portfolio.

The Company’s dollar-weighted annualized yield on average debt investments for the quarter ended June 30, 2026 and 2025 was 14.9% and 15.8%, respectively. The Company calculates the dollar-weighted annualized yield on average debt investments for any period measured as (1) total investment income (excluding dividend income) during the period divided by (2) the average of the fair value of debt investments outstanding on (a) the last day of the calendar month immediately preceding the first day of the period and (b) the last day of each calendar month during the period. The dollar-weighted annualized yield on average debt investments is higher than what investors will realize because it does not reflect expenses or any sales load paid by investors.

Total expenses for the quarter ended June 30, 2026 were $17.4 million, compared to $12.7 million for the quarter ended June 30, 2025. The increase was primarily due to $4.4 million of non-recurring merger expenses and a $0.2 million increase in base management fee, partially offset by a $0.4 million decrease in interest expense.

Net investment income for the quarter ended June 30, 2026 was $7.4 million, or $0.11 per basic share, compared to $11.4 million, or $0.28 per basic share, for the quarter ended June 30, 2025. The decrease in net investment income for the quarter ended June 30, 2026 was primarily due t

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 5, 2026

HORIZON TECHNOLOGY FINANCE CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 814-00802 27-2114934

(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

312 Farmington Avenue

Farmington, CT 06032

(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (860) 676-8654

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Ticker Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.001 per share

HRZN

The Nasdaq Stock Market LLC

6.25% Notes due 2027

HTFC

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 2

Financial Information

Item 2.02

Results of Operations and Financial Condition

On May 5, 2026, Horizon Technology Finance Corporation (the “Company”) issued a press release announcing its financial results for the three months ended March 31, 2026. A copy of this press release is attached hereto as Exhibit 99.1.

The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed “filed” for any purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of such Section. The information in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Section 9

Financial Statements and Exhibits

Item 9.01

Financial Statements and Exhibits

(d)

Exhibits.

99.1

Press Release of the Company dated May 5, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 5, 2026

HORIZON TECHNOLOGY FINANCE CORPORATION

By:

/s/ Michael P. Balkin

Michael P. Balkin

Chief Executive Officer

3

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 3, 2026

HORIZON TECHNOLOGY FINANCE CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 814-00802 27-2114934

(State or other jurisdiction

of incorporation)

(Commission File Number) (IRS Employer Identification No.)

312 Farmington Avenue

Farmington, CT 06032

(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (860) 676-8654

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Ticker Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.001 per share

HRZN

The Nasdaq Stock Market LLC

6.25% Notes due 2027

HTFC

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 2

Financial Information

Item 2.02

Results of Operations and Financial Condition

On March 3, 2026, Horizon Technology Finance Corporation (the “Company”) issued a press release announcing its financial results for the three months ended December 31, 2025. A copy of this press release is attached hereto as Exhibit 99.1.

The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed “filed” for any purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of such Section. The information in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Section 9

Financial Statements and Exhibits

Item 9.01

Financial Statements and Exhibits

(d)

Exhibits.

99.1

Press Release of the Company dated March 3, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 3, 2026

HORIZON TECHNOLOGY FINANCE CORPORATION

By:

/s/ Michael P. Balkin

Michael P. Balkin

Chief Executive Officer

3