On February 23, 2023, the Board of Directors of Horizon Technology Finance Corporation unanimously appointed Kimberley A. O'Connor to the Board. On March 10, 2023, after potential conflicts were identified in connection with the recently announced acquisition of Horizon Technology Finance Management LLC, the Company's investment advisor, by an affiliate of Monroe Capital LLC, which may have resulted in an inability of certain service providers to be deemed independent following the closing of the Transaction, Ms. O'Connor elected to resign from the Board.