The first BDC to disappoint in the IIQ 2024 earnings season is venture-debt Horizon Technology Finance. We explain why.
Horizon Technology’s earnings might have seemed robust in the IIIQ 2023, but there’s less there than meets the eye and credit performance took another step down.
TriplePoint Venture Growth’s stock price is getting hammered after reporting results while Horizon Technology’s is not. Both, though, face similar challenges.
Horizon Technology Finance has managed to undertake an accretive equity capital raise at a difficult time for venture-debt BDCs. We crunch the numbers and consider the implications.
Horizon Technology Finance is expanding its Revolver. We review where the BDC’s leverage and liquidity stands and the opportunity ahead for all venture-debt BDCs like Horizon.
The external manager of Horizon Technology Finance is getting acquired by a larger group. We review the details and see how the BDC’s shareholders will fare. Spoiler Alert: Keep your expectations low.
A venture debt famous for maintaining a very stable dividend level for years has just announced a big increase for 2023. There may be even more to come.
Horizon Technology Finance is back in what has been a moribund public market for unsecured medium term debt. We discuss the likely reasoning for the move and the implications for the sector as a whole.
The BDC Reporter annotates the IQ 2022 conference call of the fast growing venture debt lender Horizon Technology Finance. Recent performance has been laudable but – with a recession in the offing – the BDC faces a number of challenges which could make for a bumpy ride.
Records were broken amongst the major indices on Wednesday, but not for the BDC sector. Also, a venture-debt BDC issued new stock in a contrarian move.
For a second day, the markets were all over the place but the BDC sector moved up in price. We discuss how BDCs have performed so far in this mini-crisis. Otherwise, we learn more about a new portfolio company at Horizon Capital and a troubled borrower causing worries for two public BDCs.
The BDC rally rolls on, breaking new records. In major news, the leading BDC is selling new stock and a venture debt BDC provides a preview of some key data.
We annotate Horizon Technology’s IIIQ 2021 conference call transcript, offering analysis, context and a warning.
For a second day in a row, the BDC sector failed to follow the major indices upward. Also, BDC earnings season begins with high expectations and three BDCs do not disappoint. There’s other news besides on a busy day for BDCs.
Another up day for BDC stock prices, and for most of the indices. News-wise, a venture debt BDC recaps the quarter’s activity; an unchanged distribution is announced and yet another player returns to the unsecured debt issuance well on favorable terms.
