Item 1.01 Entry into a Material Definitive Agreement.

On November 9, 2022, Horizon Technology Finance Corporation (the "Company") completed a securitization of secured loans with an aggregate unpaid principal balance of approximately $158 million. Horizon Funding Trust 2022-1 (the "Issuer"), a newly formed wholly owned subsidiary of the Company, issued $100 million in aggregate principal amount of fixed-rate asset-backed notes (the "Notes"), which are rated A by a rating agency. KeyBanc Capital Markets Inc. ("KeyBanc Capital Markets") acted as initial purchaser of the Notes, and the Company is the sponsor, seller and servicer for the transaction. The Notes bear interest at a fixed rate of 7.56% per annum and have a stated maturity of November 15, 2030. The Notes have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state "blue sky" laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from registration.

The Notes were issued by the Issuer pursuant to a note purchase agreement, dated as of October 26, 2022 (the "Note Purchase Agreement"), by and among the Company, Horizon Funding 2022-1 LLC, as trust depositor (the "Trust Depositor"), the Issuer and KeyBanc Capital Markets, as initial purchaser, and are backed by a pool of loans made to certain portfolio companies of the Company and secured by certain assets of such portfolio companies. The pool of loans is to be serviced by the Company. In connection with the issuance and sale of the Notes, the Company has made customary representations, warranties and covenants in the note purchase agreement. The Notes are secured obligations of the Issuer and are non-recourse to the Company.

As part of the transaction, the Company entered into a sale and contribution agreement, dated as of November 9, 2022 (the "Sale and Contribution Agreement"), with the Trust Depositor pursuant to which the Company has agreed to sell or has contributed to the Trust Depositor certain secured loans made to certain portfolio companies of the Company (the "Loans"). The Company has made customary representations, warranties and covenants in the Sale and Contribution Agreement with respect to the Loans as of the date of the transfer of the Loans to the Trust Depositor. The Company has also entered into a sale and servicing agreement, dated as of November 9, 2022 (the "Sale and Servicing Agreement"), with the Trust Depositor, the Issuer, U.S. Bank Trust Company, National Association, as the trustee, and U.S. Bank National Association, as the backup servicer, custodian and securities intermediary pursuant to which, among other things, the Trust Depositor has agreed to sell or has contributed the Loans to the Issuer. The Company has made customary representations, warranties and covenants in the Sale and Servicing Agreement. The Company will also serve as administrator to the Issuer pursuant to an administration agreement, dated as of November 9, 2022 (the "Administration Agreement"), with the Issuer, Wilmington Trust, National Association, and U.S. Bank Trust Company, National Association. The Issuer also entered into an indenture, dated as of November 9, 2022 (the "Indenture"), which governs the Notes and includes customary covenants and events of default. In addition, the Trust Depositor entered into an amended and restated trust agreement, dated as of November 9, 2022 (the "Amended and Restated Trust Agreement", together with the Note Purchase Agreement, the Sale and Contribution Agreement, the Sale and Servicing Agreement, the Administration Agreement, and the Indenture, the "Agreements"), with Wilmington Trust, National Association, which includes customary representations, warranties and covenants. The Notes were sold through an unregistered private placement to "qualified institutional buyers" in compliance with the exemption from registration provided by Rule 144A under the Securities Act and to institutional "accredited investors" (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) who, in each case, are "qualified purchasers" for purposes of Section 3(c)(7) under the Investment Company Act of 1940, as amended.

The Company will use the proceeds of the private placement of the Notes to repay its outstanding principal balance under its revolving credit facility (the "Credit Facility") with KeyBank National Association and for working capital purposes. As of November 9, 2022, there was $87,500,000 in outstanding principal amounts under the Credit Facility, which is subject to customary covenants and obligations. At November 9, 2022, the Credit Facility had an interest rate of 7.25%. The stated maturity date of the Credit Facility is June 22, 2026.

The descriptions of the Agreements contained in this current report on Form 8-K are qualified in their entirety by reference to copies of the Agreements, which are filed as Exhibits 10.1 through 10.6 to this current report on Form 8-K and incorporated by reference herein.

On November 9, 2022, the Company issued a press release announcing the completion of the securitization, a copy of which is attached hereto as Exhibit 99.1.

Item 2.03 Creation of a Direct Financial


          Obligation or an Obligation under an
          Off-Balance Sheet Arrangement of a
          Registrant.

The information set forth in Item 1.01 is incorporated by reference to this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibit.

10.1 Note Purchase Agreement, dated as of

October 26, 2022, by and among the
     Company, Horizon Funding Trust 2022-1,
     the issuer, Horizon Funding 2022-1 LLC,
     the trust depositor, and KeyBanc
     Capital Markets Inc., as initial
     purchaser.

10.2 Indenture, dated as of November 9,


     2022, by and among Horizon Funding
     Trust 2022-1, as the issuer, U.S. Bank
     National Association, as the trustee,
     and U.S. Bank National Association, as
     the securities intermediary.
10.3   Sale and Contribution Agreement,

dated as of November 9, 2022, by and

among the Company, as the seller, and

Horizon Funding 2022-1 LLC, as the


     trust depositor.
10.4   Sale and Servicing Agreement, dated
     as of November 9, 2022, by and among
     the Company, as the seller and as the
     servicer, Horizon Funding Trust 2022-1,
     as the issuer, Horizon Funding 2022-1
     LLC, as the trust depositor, U.S. Bank
     Trust Company, National Association, as
     the trustee, and U.S. Bank National
     Association, as backup servicer,
     custodian and securities
     intermediary.

10.5 Administration Agreement, dated as of

November 9, 2022, by and among Horizon
     Funding Trust 2022-1, as issuer, the
     Company, as administrator, Wilmington
     Trust, National Association, as owner
     trustee, and U.S. Bank Trust Company,
     National Association, as trustee.
10.6   Amended and Restated Trust Agreement,
     dated as of November 9, 2022, by and
     among Horizon Funding 2022-1 LLC, as
     the trust depositor, and Wilmington
     Trust, National Association, as the
     owner trustee.
99.1   Press Release dated November 14,

2022.

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