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Note 12 - Subsequent Events
9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 12. Subsequent Events

 

On October 21, 2022, the Company funded a $0.4 million equity investment to an existing portfolio company, Emalex Biosciences, Inc.

 

On October 21, 2022, the Company funded a $7.0 million debt investment to a new portfolio company, Robin Healthcare, Inc.

 

On October 26, 2022, the Company priced a securitization of secured debt investments through Horizon Funding Trust 2022-1, an indirect, bankruptcy-remote subsidiary of the Company. The Horizon Funding Trust 2022-1 securitization is a private securitization under Rule 144A and to persons outside the United States pursuant to Regulation S under the Securities Act in which the Company expects to sell a pool of loans with an aggregate principal balance of approximately $160 million to a securitization trust and receive proceeds from the issuance and sale of $100.0 million aggregate principal amount of rated notes with a coupon of 7.56% ("7.56% Notes"). Following pricing, total proceeds, including cash and securities, are expected to be $98.8 million before fees and expenses. The transaction is scheduled to close on November 9, 2022, subject to customary closing conditions. 

 

This disclosure does not constitute an offer to sell or a solicitation of an offer to buy any of the 7.56% Notes, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

 

On October 28, 2022, the Company funded a $2.5 million debt investment to an existing portfolio company, Sonex Health, Inc.