Horizon Technology Finance (HRZN) Announces Offering of Common Stock

Horizon Technology Finance Corporation (Nasdaq: HRZN) (the "Company" or "Horizon") announced today a proposed underwritten primary offering of 3,250,000 shares of its common stock. In connection with the proposed offering, the Company intends to grant the underwriters for the offering a 30-day option to purchase up to an additional 487,500 shares of the Company's common stock.

The joint-lead book-running managers for the offering are Morgan Stanley & Co. LLC, UBS Investment Bank, and Wells Fargo Securities.

The Company intends to use the net proceeds of this offering to repay its outstanding debt borrowed under its revolving credit facility provided by KeyBank National Association (the "Key Facility"). However, through re-borrowing of the initial repayments under its Key Facility, the Company intends to use the net proceeds from this offering to make investments in accordance with its investment objective and strategies described in the prospectus supplement and the accompanying prospectus, to pay the Company's operating expenses and other cash obligations, and for general corporate purposes.

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