<SEC-DOCUMENT>0001437749-24-038524.txt : 20250324
<SEC-HEADER>0001437749-24-038524.hdr.sgml : 20250324
<ACCEPTANCE-DATETIME>20241230160300
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001437749-24-038524
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20241230

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Horizon Technology Finance Corp
		CENTRAL INDEX KEY:			0001487428
		ORGANIZATION NAME:           	
		EIN:				272114934
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		312 FARMINGTON AVENUE
		CITY:			FARMINGTON
		STATE:			CT
		ZIP:			06032
		BUSINESS PHONE:		860-676-8654

	MAIL ADDRESS:	
		STREET 1:		312 FARMINGTON AVENUE
		CITY:			FARMINGTON
		STATE:			CT
		ZIP:			06032
</SEC-HEADER>
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			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 9pt;">One International Place, 40th Floor<br>
			100 Oliver Street<br>
			Boston, MA 02110-2605<br>
			+1&nbsp; 617&nbsp; 728&nbsp; 7100&nbsp; Main<br>
			+1&nbsp; 617&nbsp; 426&nbsp; 6567&nbsp; Fax<br>
			www.dechert.com</p>

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			<td style="width: 80%; font-size: 10pt;">December 30, 2024</td>
			<td style="width: 20%; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt;"><b>THOMAS J. FRIEDMANN</b></p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt;">thomas.friedmann@dechert.com<br>
			+1 617 728 7120&nbsp; Direct<br>
			+1 617 275 8389&nbsp; Fax</p>
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>VIA EDGAR</u></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">U.S. Securities and Exchange Commission</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Division of Investment Management</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">100 F Street, N.E.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Washington, D.C. 20549</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Attn: David Matthews</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Re:</p>
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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Horizon Technology Finance Corporation (&#8220;<u>HRZN</u>&#8221;)</p>

			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Preliminary Proxy Statement for Special Meeting of Stockholders</p>

			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">File Number 814-00802</p>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Ladies and Gentlemen:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">On December 16, 2024, Horizon Technology Finance Corporation, a Delaware corporation (the &#8220;<u>Company</u>&#8221;), filed with the Securities and Exchange Commission (the &#8220;<u>Commission</u>&#8221;) a preliminary Proxy Statement for Special Meeting of Stockholders (the &#8220;<u>Proxy Statement</u>&#8221;) to consider a proposal (the &#8220;<u>Proposal</u>&#8221;) to approve a new investment management agreement (the &#8220;<u>Proposed Investment Management Agreement</u>&#8221;) between the Company and Horizon Technology Finance Management LLC, the Company&#8217;s investment adviser (the &#8220;<u>Adviser</u>&#8221;). On behalf of the Company, we hereby respond to the comments raised by the staff (the &#8220;<u>Staff</u>&#8221;) of the Commission in telephone conversations between David Matthews of the Staff and Thomas J. Friedmann, outside counsel to the Company, on December 23, 2024.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">For your convenience, the Staff&#8217;s comments are included in this letter and are followed by the applicable response. Capitalized terms used in this letter and not otherwise defined herein shall have the meanings specified in the Proxy Statement.</p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>1.</b></p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Please file a letter responding to these comments on EDGAR either prior to or concurrent with the filing of a definitive proxy; if any changes are made to the disclosure in the proxy, conform such changes throughout the document.</b></p>
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Response: </b>The Company acknowledges the Staff&#8217;s comments and confirms that it has responded to the Staff&#8217;s comments via this correspondence and through the related filing of the definitive proxy statement.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&nbsp;</p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>2.</b></p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Householding:</b>&nbsp;<b>&nbsp;If only one proxy or notice of availability is to be delivered to multiple holders at the same address, confirm that is the case and include disclosure required by Section 23(a)-(d).</b></p>
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Response: </b>The Company acknowledges the Staff&#8217;s comment and confirms that it has included the &#8220;householding&#8221; information required under Item 23(a)-(d) on page 20&nbsp;to the Company&#8217;s definitive proxy statement filed with the Commission on December 30, 2024.</p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>3.</b></p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Summarize in the disclosure any appraisal rights or similar rights of dissenters in respect of the proposal and any procedures or steps required of dissenters to exercise such rights.</b>&nbsp;<b>&nbsp;If appraisal rights are not applicable to the Company under state law or otherwise, please instead state that there are no appraisal rights in the proxy.</b></p>
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			<td style="width: 20%; vertical-align: top;">U.S. Securities and Exchange Commission<br>
			December 30, 2024<br>
			Page 2&nbsp;</td>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Response:</b> The Company acknowledges the Staff&#8217;s comment and advises the Staff that stockholders of the Company will not be entitled to appraisal or similar rights of dissenters in connection with the stockholder vote to approve the Proposed Investment Management Agreement. The Company respectfully advises the Staff that, under Delaware corporate law, appraisal or similar rights of dissenters are only available to stockholders where a &#8220;realization event&#8221; results from a stockholder vote. The Company&#8217;s stockholders will not experience a change in their ownership of the shares of common stock of the Company and the investment adviser will remain the same following such acquisition.&nbsp;There will be no &#8220;realization event&#8221; under Section 262 of Delaware General Corporate Law (&#8220;<u>DGCL</u>&#8221;). Accordingly, Section 262 of the DGCL does not require the Company to afford its stockholders with appraisal or similar rights of dissenters.&nbsp;The Company confirms that it has included disclosure that stockholders do not have dissenters&#8217; or appraisal rights in connection with the proposal on page 1 to the Company&#8217;s definitive proxy statement filed with the Commission on December 30, 2024.</p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>4.</b></p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>P. 6. </b>&nbsp;<b>Information Regarding the Current Investment Management Agreement. Please disclose, if applicable, whether the Adviser is the adviser to any other funds having similar investment objectives and, if so, identify such other funds, their assets under management, the Adviser</b>&#8217;<b>s compensation rate, and whether the Adviser has waived, reduced or otherwise agreed to reduce its compensation under any applicable contract.</b>&nbsp;<b>&nbsp;See Section 22c-10 of Schedule 14A.</b></p>
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Response: </b>The Company acknowledges the Staff&#8217;s comments and advises the Staff that such disclosure is not applicable, as the Investment Adviser does not advise any other funds having similar investment objectives as the Company.</p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>5.</b></p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>On Board</b>&#8217;<b>s Review and Approval of the Proposed Investment Management Agreement. </b>&nbsp;<b>Please describe in disclosure any consideration by the Board of any facts or circumstances adverse to the adoption of the proposal or, if no such factors were considered, please disclose that fact in correspondence.</b></p>
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Response: </b>The Company acknowledges the Staff&#8217;s comments and advises the Staff that the Board considered whether there were any material facts or circumstances adverse to the adoption of the Proposed Investment Management Agreement, but concluded there were none.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">* * * * * * * * *</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The Company hereby acknowledges that (i) it is responsible for the adequacy and accuracy of the disclosure in its filings with the Commission, (ii) Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to any filing and (iii) the Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.</p>

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			<td style="width: 20%; vertical-align: top;">U.S. Securities and Exchange Commission<br>
			December 30, 2024<br>
			Page 3</td>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">* * * * * * * * *</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">If you have any questions, please feel free to contact the undersigned by telephone at (617) 728-7120 or by e-mail at thomas.friedmann@dechert.com. Thank you for your cooperation and attention to this matter.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Very truly yours,</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u>/s/ Thomas J. Friedmann</u></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Thomas J. Friedmann</p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">John C. Bombara, Horizon Technology Finance Corporation</p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
