HRZN completes $141M MRCC merger, deleverages $60M in convertible notes, as NII falls 16%

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 29, 2025 · ~2 min read

Key Changes

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  Completed merger with Monroe Capital Corporation on April 14, 2026, receiving $141.1M in cash and issuing 20.4M shares; former MRCC stockholders now own 29.86% of the combined company.

  MD&A: MRCC merger completion verify on EDGAR →
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  Net investment income declined $1.7M (16.1%) to $9.0M as performance-based incentive fees returned ($1.8M vs. $0 prior year) and investment income fell $0.4M despite improved portfolio yields (15.2% vs. 15.0%).

  MD&A: Net investment income verify on EDGAR →
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  Convertible notes outstanding fell $32.2M (62.8%) to $19.3M as holders converted $15.1M of 2030 Notes into 2.1M shares and the 2031 Notes balance dropped from $20.0M to $2.8M, reducing long-term debt obligations.

  MD&A: 2030 & 2031 Convertible Notes verify on EDGAR →