Horizon Technology Finance (HRZN) Approves $5M Common Stock Buyback

Horizon Technology Finance Corporation (NASDAQ: HRZN) today announced that its board of directors has authorized the repurchase of up to $5 million of its common stock at prices below Horizon's net asset value per share as reported in its most recent financial statements.

Under the repurchase program, Horizon may, but is not obligated to, repurchase shares of its outstanding common stock in the open market or in privately negotiated transactions from time to time. Any repurchases by Horizon will comply with the requirements of Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and any applicable requirements of the Investment Company Act of 1940, as amended. Unless extended by Horizon's board of directors, the repurchase program will terminate on the earlier of September 30, 2016 and the repurchase of $5 million of Horizon's common stock.

The stock repurchase program is intended to minimize the adverse effects of market volatility on the price of Horizon's common stock. Any repurchases under the program will be in the discretion of Horizon's management and will depend on a variety of factors. There can be no assurances that any shares will be repurchased under the program or that any repurchases will increase the market value of shares of Horizon's common stock. Horizon's board of directors may amend this program, solely in its discretion, at any time prior to its termination.

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