Horizon Technology Finance names Danny Hurwitz as managing director

FARMINGTON, Conn. - Horizon Technology Finance Management LLC, the manager for Horizon Technology Finance Corporation (NASDAQ:HRZN), a $330.51 million market cap venture lending firm currently yielding 16.44% in dividends, announced Thursday the appointment of Danny Hurwitz as Managing Director.

Hurwitz will focus on originating new investments, primarily through investment banking, investor relations and broker channels, with emphasis on lending to small-cap public companies. He brings over 30 years of experience in investment banking and institutional equity sales to the role. According to InvestingPro, this appointment comes at a crucial time as HRZN faces some near-term challenges with short-term obligations exceeding liquid assets.

Prior to joining Horizon, Hurwitz served as Managing Director at Seaport Global, a full-service investment bank. He holds an M.B.A. and a B.S. in Communications from Northwestern University.

"We are thrilled to welcome Danny to the Horizon team," said Mike Balkin, Chief Executive Officer of Horizon, according to the press release. "His deep capital markets experience and extensive network of relationships will be invaluable to Horizon."

Horizon Technology Finance Management, an affiliate of Monroe Capital, is a registered investment adviser that underwrites and manages secured loans to venture capital and private equity backed companies and publicly traded companies across technology, life science, healthcare information and services, and sustainability industries. The company has maintained dividend payments for 16 consecutive years, though InvestingPro analysis reveals it’s currently not profitable over the last twelve months. Get access to the complete HRZN financial health analysis and 12+ additional ProTips with an InvestingPro subscription.

The firm serves as the external adviser for Horizon Technology Finance Corporation, which trades on the Nasdaq. Horizon is headquartered in Farmington, Connecticut, with additional offices in Pleasanton, California, and investment professionals located throughout the United States.

In other recent news, Horizon Technology Finance Corporation has announced significant changes in its leadership and financial structure. The company has appointed Paul Seitz as its new Chief Investment Officer, succeeding Daniel Devorsetz, who will remain with the company until 2025. Additionally, Horizon is preparing for a leadership transition with Michael P. Balkin set to become CEO in June 2025, following the retirement of Robert D. Pomeroy, Jr. This strategic succession plan aims to ensure a smooth transfer of responsibilities and continued growth.

Horizon Technology Finance has also amended its loan agreements to extend borrowing capabilities and adjust interest rates. The amendments include extending the Legal Final Payment Date to June 2032 and setting a new fixed interest rate for future borrowings. These changes are expected to enhance the company’s financial flexibility and support its lending activities.

Moreover, the company has extended its Investment Period Termination Date from June 2025 to June 2027, with an option for further extension. This move is part of Horizon’s strategy to optimize its financing structure and ensure long-term stability. These developments reflect Horizon’s commitment to managing its financial operations effectively while positioning itself for future growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.