ࡱ> IJ l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~9#܈ ~~4#܈ ~~8#܈ ~~7#܈ ~~"؈ ~~3#܈ ~~83ffff̙̙3f3fff3f3f33333f33Farmington CT 06032&IPortfolio Summary and Investmen'Portfolio Asset Quality&:Monthly Distributions Declared CForwardLooking Statements&IConsolidated Statements of Asse&|eConsolidated Statements of Oper l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Portfolio Summary and InvestmenPortfolio Asset Quality!Monthly Distributions Declared ForwardLooking Statements!Consolidated Statements of Asse!Consolidated Statements of OperU } $} $ } 6      'Horizon Technology Finance Corp 8-K 07/31/2018Farmington, CT 06032 ?/'Written communications pursuant to Rule  5 -425 under the Securities Act (17 CFR 230.425)    ? 3 +Soliciting material pursuant to Rule 14a-12  2 *under the Exchange Act (17 CFR 240.14a-12)    ?0(Pre-commencement communications pursuant/'to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) ?0(Pre-commencement communications pursuant/'to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c))$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8xl`OE P =PF0*8X> @ l   &  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Farmington CT 06032Portfolio Asset Quality!Monthly Distributions Declared ForwardLooking Statements!Consolidated Statements of Asse!Consolidated Statements of OperU } 8} $ }  } $ }  }  $ } } $ }  } $      'Horizon Technology Finance Corp 8-K 07/31/20181)Portfolio Summary and Investment Activity($ in thousands)"For the Three Months Ended   For the Six Months Ended   June 30,   June 30,  ~   ~   ~   ~                Beginning portfolio? ~    ~ J   ~ N   ~ N   New debt investments?  ~    ~ X   ~ 6y   ~  )!Less refinanced debt investments? - -  ~  F   -!Net new debt investments?~ ~ X  ~  zR  ~ 7/Investment in controlled affiliate investments?~ ? -  ~  ?   -3+Principal payments received on investments?~ ~ |  ~  %  ~ REarly pay-offs?~ +~ ?  ~  n  ~ *"Accretion of debt investment fees?~ ~   ~    ~ !New debt investment fees?~ ~ r  ~  n  ~ : New equity?~  -  ~     -*"Proceeds from sale of investments?~ ~   ~    ~ r0(Net realized (loss) gain on investments?~ ~   ~  J  ~ JY2*Net unrealized (depreciation) appreciation~ ~   ~    ~ on investments?Ending portfolio?~  ~ 2  ~     ~ 2 $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/DlocWK]e| :."=PF0*8X> @           l  9  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Farmington CT 06032!Portfolio Summary and Investmen!Monthly Distributions Declared ForwardLooking Statements!Consolidated Statements of Asse!Consolidated Statements of OperU } } $ } } $ }  }  $ } U} $} $ } } $ }  } $ } U} $      'Horizon Technology Finance Corp 8-K 07/31/2018Portfolio Asset Quality($ in thousands) June 30, 2018  December 31, 2017    Number of   Debt    Percentage    Number of   Debt    Percentage     Investments   Investments at   of Debt    Investments   Investments at   of Debt        Fair Value    Investments        Fair Value    Investments                     Credit Rating                         4?~ ~ 3   ffffff#@  % ~ ~ 6$ffffff"@ % 3?~ f~ &    lT@  ~ f~  fffffU@ 2?~ ~    333333!@  ~ ~ Xffffff@ 1? - -    -  ~ ~ R-ffffff?Total?~ ~ k   ~    % ~ ~ Fp ~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4"ui]zN g[O'=PF0*8X> @               l  B  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Farmington CT 06032!Portfolio Summary and InvestmenPortfolio Asset QualityForwardLooking Statements!Consolidated Statements of Asse!Consolidated Statements of OperU } a} $ } a} $ } 0} $ }       'Horizon Technology Finance Corp 8-K 07/31/2018<4Monthly Distributions Declared in Third Quarter 2018Ex-Dividend Date Record Date Payment DateAmount Per Share September 17, 2018  September 18, 2018  October 16, 2018  ? October 17, 2018  October 18, 2018  November 15, 2018  ? November 16, 2018  November 19, 2018  December 14, 2018  ?     Total:  333333? $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(bTdXL@'o=PF0*8X> @ l  EI  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Farmington CT 06032!Portfolio Summary and InvestmenPortfolio Asset Quality!Monthly Distributions Declared !Consolidated Statements of Asse!Consolidated Statements of OperU } $} $ } -      'Horizon Technology Finance Corp 8-K 07/31/2018"Forward-Looking Statements"Horizon Technology Finance-%Investor Relations and Media Contact: Daniel R. Trolio   The IGB Group Chief Financial Officer   Leon Berman (860) 674-9977  (212) 477-8438& dtrolio@horizontechfinance.com  lberman@igbir.com $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(4T~rfZp0=PF0*8X> @ l  ; Yud  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Farmington CT 06032!Portfolio Summary and InvestmenPortfolio Asset Quality!Monthly Distributions Declared ForwardLooking Statements!Consolidated Statements of OperU } :} $ }  } $ }  } $ ;                                 'Horizon Technology Finance Corp 8-K 07/31/201891Consolidated Statements of Assets and LiabilitiesJune 30, December 31,  ~   ~         Assets      / 'Non-affiliate investments at fair value ~    ~ W  6 .(cost of $216,364 and $219,303, respectively)?,$Non-controlled affiliate investments~ r~ 61)at fair value (cost of $7,677 and $3,774,respectively)?0(Controlled affiliate investments at fair~ ? -4,value (cost of $4,069 and $0, respectively)?0(Total investments at fair value (cost of~  ~ N -%$228,110 and $223,077, respectively)? Cash?~ b~  gInterest receivable?~ V?~ J> Other assets?~ ~  Total assets?~ ~ J Liabilities Borrowings?~ Z\~ Distributions payable?~  6~ 6$Base management fee payable?~ ~ Incentive fee payable?~  ~ vOther accrued expenses?~  ~  D lg[OC;b(_Ev87fz ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 :  Total liabilities?  ~ ί   ~   !!!!!!!!!"""""""""# Net assets########4$,Preferred stock, par value $0.001 per share,$$ $-$$$ $-$)%!1,000,000 shares authorized, zero0&(shares issued and outstanding as of June''30, 2018 and December 31, 2017?1()Common stock, par value $0.001 per share,((~ (2(((~ (2(&)100,000,000 shares authorized,/*'11,695,229 and 11,687,871 shares issued8+0and 11,527,764 and 11,520,406 shares outstanding2,*as of June 30, 2018 and December 31, 2017,- respectively?).!Paid-in capital in excess of par?..~ ." ...~ . .1/)Distributions in excess of net investment//~ ////~ /Z/0income?31+Net unrealized depreciation on investments?11~ 1V111~ 11)2!Net realized loss on investments?22~ 2o222~ 2jt23Total net assets?33~ 3.*333~ 3>3)4!Total liabilities and net assets?4~ 444~ 4J4)5!Net asset value per common share?55333333'@555q= ףp'@567$8____________________________19)Created by Morningstar Document Research.0:(http://documentresearch.morningstar.com/: ~0i5 qG_L &e=PF0*8X> @::998855554444     l  90~  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Farmington CT 06032!Portfolio Summary and InvestmenPortfolio Asset Quality!Monthly Distributions Declared ForwardLooking Statements!Consolidated Statements of AsseU } :} $ } } $ } }  $ } } $ }  } $ 9     'Horizon Technology Finance Corp 8-K 07/31/2018-%Consolidated Statements of Operations"For the Three Months Ended   For the Six Months Ended   June 30,   June 30,   ~   ~   ~   ~   Investment income                & Interest income on investments                5 -Interest income on non-affiliate investments? ~ Nh  ~ T  ~   ~ ƶ 3+Interest income on non-controlled affiliate~  -  ~  B   - investments?-%Total interest income on investments?~ fk~ T  ~    ~ ƶ Fee income     .&Prepayment fee income on non-affiliate~ ~   ~    ~ R  investments?0(Fee income on non-affiliate investments?~ &~   ~    ~  Total investment income?~ Fr~ [  ~  b  ~ Expenses     Interest expense?~ ~   ~  -  ~ %Base management fee?~ ~    ~  j"  ~ )!Performance based incentive fee ?~ Z~ V  ~    ~  Administrative fee?~ ~   ~    ~ Professional fees?~ ~   ~     ~  #General and administrative?~ ~   ~    ~ jTotal expenses?~ ZA~ 0  ~  N  ~ i/'Performance based incentive fee waived?~  -  ~     - Net expenses?~ >~ 0  ~  |  ~ iDDlsg[Oe),EK37Kw !"#$%&'()*+,-./012345678 Net investment income?  ~ j3   ~  +   ~ e   ~ _ !!!!!!!!!! ! ! ! ! !!!7"/Net realized and unrealized loss on investments""""""""" " " " " """1#)Net realized (loss) gain on non-affiliate##~ ####~ ### # ~ # J# # #~ #JY#$ investments?0%(Net realized (loss) gain on investments?%%~ %%%%~ %%% % ~ % J% % %~ %JY%2&*Net unrealized (depreciation) appreciation&&~ &v&&&~ &&& & ~ & B& & &~ &&%'on non-affiliate investments?2(*Net unrealized appreciation (depreciation)((~ (R((( (-(( ( ~ ( ^( ( ( (-(0)(on non-controlled affiliate investments?2**Net unrealized (depreciation) appreciation**~ ****~ *** * ~ * * * *~ **+on investments?8,0Net realized and unrealized loss on investments?,,~ ,b,,,~ ,n,, , ~ , , , ,~ ,,---------- - - - - ---1.)Net increase in net assets resulting from.~ .-..~ .v .. ~ . vV. . ~ .D./ operations?/0'Net investment income per common share?00(\?000Q?00 0 Q?0 0 0(\?041,Net increase in net assets per common share?11?111Q?11 1 Q?1 1 1RQ?1)2!Distributions declared per share?22333333?222333333?22 2 333333?2 2 2333333?2,3$Weighted average shares outstanding?33~ 3{333~ 3^33 3 ~ 3 ^3 3 3~ 3 Ӿ345$6____________________________17)Created by Morningstar Document Research.08(http://documentresearch.morningstar.com/6 JOR:>@1?_zR=PF0*8X> @887766222222 22111111 11000000 00...... ..          Root Entry FBook    !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGH