8-K
Horizon Technology Finance Corp (HRZN)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 9, 2025
HORIZON TECHNOLOGY FINANCE CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 814-00802 | 27-2114934 |
|---|---|---|
| (State or other jurisdiction<br><br> <br>of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
312 Farmington Avenue
Farmington, CT 06032
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code: (860) 676-8654
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Ticker Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.001 per share | HRZN | The Nasdaq Stock Market LLC |
| 4.875% Notes due 2026 | HTFB | The New York Stock Exchange |
| 6.25% Notes due 2027 | HTFC | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Section 5 | Corporate Governance and Management |
|---|---|
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On June 5, 2025, Daniel S. Devorsetz stepped down as Chief Investment Officer and Chief Operating Officer of Horizon Technology Finance Corporation (the “Company”. Mr. Devorsetz will continue to serve as a special advisor to the Company. Mr. Devorsetz is not stepping down because of any dispute or disagreement with the Company.
On June 5, 2025, the Board of Directors of the Company unanimously elected Paul G. Seitz, 38, as Chief Investment Officer. Set forth below is a description of the prior business experience of Mr. Seitz.
Mr. Seitz joined Horizon Technology Finance Management LLC, the Company’s investment adviser (the “Advisor”) in June 2025. He serves as the Chief Investment Officer and as a member of the Advisor’s investment committee. Mr. Seitz has more than ten years of credit and portfolio management experience, including more than five years in venture lending. He is responsible for general oversight of investments, including origination.
From July 2019 to May 2025, Mr. Seitz was at Monroe Capital LLC, most recently serving as Managing Director and Head of Software Underwriting, where he was responsible for leading and managing the underwriting process within the software, technology and tech-enabled services industry, focusing on pre-IPO and growth-stage technology companies, managing a portfolio of loan transactions, and various account management functions. Prior to that, he was at TriplePoint Capital from March 2014 to July 2019, where he was a Vice President, covering the North American and European markets. Prior to that, Mr. Seitz was a Senior Analyst at NXT Capital and an Analyst at Duff & Phelps. Mr. Seitz holds a Bachelor of Science degree in finance from Pennsylvania State University.
There are no arrangements or understandings between Mr. Seitz and any other person pursuant to which he was selected as an officer of the Company. There are also no family relationships between Mr. Seitz and any director or executive officer of the Company to be disclosed pursuant to Item 401(d) of Regulation S-K. Mr. Seitz does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
| Section 7 | Regulation FD |
|---|---|
| Item 7.01 | Regulation FD |
On June 9, 2025, the Company issued a press release pertaining to the matters described above. A copy of this press release is attached hereto as Exhibit 99.1.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished pursuant to Regulation FD and no part shall not be deemed “filed” for any purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of such Section. The information in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Section 9 | Financial Statements and Exhibits |
|---|---|
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
| 99.1 | Press Release of the Company dated June 9, 2025. |
|---|---|
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: June 9, 2025 | HORIZON TECHNOLOGY FINANCE CORPORATION | |
|---|---|---|
| By: | /s/ Robert D. Pomeroy, Jr. | |
| Robert D. Pomeroy, Jr. | ||
| Chief Executive Officer |
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ex_828613.htm
Exhibit 99.1
Horizon Technology Finance Appoints Paul Seitz as Chief Investment Officer
Farmington, Connecticut – June 9, 2025 – Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or “HRZN”) (the “Company”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital and private equity backed and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries, announced today that it has appointed Paul Seitz as its new Chief Investment Officer.
Concurrently, Daniel Devorsetz has stepped down as Chief Operating Officer and Chief Investment Officer, but will remain involved with the Company through September 2025.
“We are thrilled to welcome Paul as our new Chief Investment Officer,” said Michael P. Balkin, Chief Executive Officer of Horizon. “Paul has a proven track record of building high-quality, tech-focused portfolios from his time at Monroe Capital, and his deep expertise in software underwriting makes him the ideal choice to lead our next phase of growth. Paul will also further enhance the relationship between Horizon and Monroe, enabling us to further leverage Monroe’s broader capabilities and infrastructure as we seek to deliver meaningful value to our shareholders. I also want to express our sincere gratitude to Dan Devorsetz for his invaluable contributions over the past two decades. Dan’s leadership and insight have been instrumental in building Horizon into the Company it is today.”
Mr. Seitz joins Horizon from Monroe Capital, where he served as Managing Director and Head of Software Underwriting. During his tenure, Paul was responsible for leading and managing the underwriting process within the software, technology and tech-enabled services industry, focusing on pre-IPO and growth-stage technology companies, managing a portfolio of loan transactions, and various account management functions. He started at Monroe in 2019 and brings over 10 years of experience in technology lending and investing. Prior to Monroe, Mr. Seitz was a Vice President at TriplePoint Capital, covering both the North American and European markets, and was responsible for identifying and evaluating investment opportunities, due diligence, market research, financial modeling and business model analysis. His experience also includes roles at NXT Capital, as Senior Analyst on the Venture Finance team, and Duff & Phelps as an Analyst. Mr. Seitz earned his B.S. in Finance from Penn State.
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN), externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, is a leading specialty finance company that provides capital in the form of secured loans to venture capital and private equity backed companies and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio’s return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located throughout the U.S. Monroe Capital is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, opportunistic, structured credit, real estate and equity. To learn more, please visit horizontechfinance.com.
Forward-Looking Statements
Statements included herein 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 are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Horizon’s filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contacts:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(646) 200-8885
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819