2022-11-01 | NDAQ:HRZN | Press release

Farmington, Conn., November 1, 2022 /PRNewswire/ — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (the “Company”), a leading specialty finance company that provides capital in the form of secured loans to equity-backed companies -venture in the technology, life science, information and health services and sustainability industries, announced today that its board of directors declared a 10% increase in distributions monthly in cash to $0.11 per share, payable in January, February and March 2023and a special distribution of $0.05 per share payable in December 2022. The following tables show these distributions, payable as shown in the tables below, in aggregate $0.38 per share. Since its IPO in 2010, Horizon has paid a total of $197 million in distributions to its shareholders.

When declaring distributions, Horizon’s 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 amortization, (ii) temporary and permanent differences in the recognition of income and expenses, and (iii) the amount of indirect income carried over from one year for distribution in the following year. The final determination of taxable income for each taxation year, as well as the tax attributes of distributions in that taxation year, will be made after the close of the taxation year.

Horizon maintains a “dividend reinvestment plan” (“DRIP”) which provides for the reinvestment of distributions on behalf of its shareholders, unless a shareholder has elected to receive cash distributions. Accordingly, if Horizon declares a distribution, its shareholders who have not “opted out” of the DRIP on the distribution record date will have their distribution automatically reinvested in additional shares of Horizon common stock. Horizon has the option of satisfying DRIP share requirements through the issuance of new common shares or through open market purchases of common shares by the DRIP administrator. Newly issued shares will be valued based on the final closing price of Horizon common stock on a specified valuation date for each distribution, as determined by Horizon’s board of directors. Shares purchased on the open market to satisfy the requirements of the DRIP will be valued based on the average price of the applicable shares purchased by the administrator of the DRIP Plan, before any related brokerage or other fees, which are borne by Horizon.

About Horizon Technology Financing

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture-backed companies in the technology, life sciences, health information and services and sustainability. Horizon’s investment objective is to maximize the return on its investment portfolio by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when these borrowed investments. Horizon is headquartered in Farmington, Connecticutwith a regional office in Pleasanton, Californiaand investment professionals located in Austin, TX, Chicago, Ill., Reston, Virginia and Portland, Maine. To learn more, please visit horizontechfinance.com.

Forward-looking statements

Statements included in this press release 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 do not constitute are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including those described from time to time in Horizon’s filings with the Securities and Exchange Commission. Horizon assumes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.

contacts:

Investor Relations:

RIC

Garrett Edson

ir@horizontechfinance.com

(860) 284-6450

Media Relations:

RIC

Chris Gillick

HorizonPR@icrinc.com

(646) 677-1819

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SOURCE Horizon Technology Finance Corporation