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Stock Market & Financial Investment News

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December 19, 2013
09:54 EDTHRZNHorizon Technology announces settlement of ACT Biotech investment
Horizon Technology Finance announced that, in connection with the sale of substantially all of the assets of ACT Biotech, Horizon has successfully settled its investment in ACT. In connection with the sale of substantially all of the assets of ACT to a private, venture capital-backed, biotechnology company, Horizon received a cash payment of approximately $2.1M, which Horizon applied to its venture loan balance. Horizon also received the right to receive from ACT up to $17M in contingent contractual success payments. The success payments are subject to the buyer of the ACT assets achieving various development and commercialization milestones with the purchased assets. The Company cannot guarantee that it will receive any success payments. Horizon expects to record a realized loss on its loan to ACT of approximately $1.9M for the quarter ended December 31. Horizon had previously recorded unrealized depreciation of $1.2M of this $1.9M in prior periods. Any of the success payments actually received by Horizon would be recorded as income in the period received.
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April 14, 2014
16:25 EDTHRZNHorizon Technology announces successful exit of Xtreme Power investment
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