FARMINGTON, Conn., June 12,
2023 /PRNewswire/ -- Horizon Technology Finance
Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance
company that provides capital in the form of secured loans to
venture capital backed companies in the technology, life science,
healthcare information and services, and sustainability industries,
today announced it has provided a $20
million venture loan facility to Viken Detection Corp.
("Viken"), of which $10 million has
been initially funded.
Viken has developed a variety of innovative X-ray and detection
products that are utilized by various law enforcement agencies for
the purposes of security, public safety and counterintelligence.
Its flagship products, the NIGHTHAWK-BTX™, a handheld imager, and
the OSPREY-UVX™, a full-vehicle scanner installed beneath roads,
scan vehicle traffic at the U.S.-Mexico border, among other critical
checkpoints. Viken recently launched its latest product,
FOXHOUND-HNA™, which enables law enforcement to detect trace
elements of contraband in the field. The company will use the loan
proceeds for general growth and working capital purposes.
"Viken's cutting-edge technology provides law enforcement with
crucial new devices that are making a major difference in keeping
the public safe from threats," said Gerald
A. Michaud, President of Horizon. "Their powerful scanning
tools give officials the capability to quickly and comprehensively
search the entirety of any vehicle and cargo for contraband and
hazardous materials. We are pleased to support Viken's continued
growth."
"We are excited to receive Horizon's support as we continue to
broaden our worldwide support of law enforcement and military
communities," said Jim Ryan, Chief
Executive Officer of Viken. "Viken's world-class product suite
considerably enhances the ability of law enforcement and military
professionals to detect potential threats and hazards. With
Horizon's financial backing, we look forward to developing new and
advanced solutions to further improve global security."
About Horizon Technology
Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a
leading specialty finance company that provides capital in the form
of secured loans to venture capital backed companies in the
technology, life science, healthcare information and services, and
sustainability industries. The investment objective of Horizon is
to maximize its investment portfolio's return by generating current
income from the debt investments it makes and capital appreciation
from the warrants it receives when making such debt investments.
Horizon is headquartered in Farmington,
Connecticut, with a regional office in Pleasanton, California, and investment
professionals located in Austin,
Texas, Chicago, Illinois,
Reston, Virginia and Portland, Maine. To learn more, please visit
horizontechfinance.com.
About Viken Detection
Viken Detection provides enabling security imaging and material
identification solutions that help law enforcement and safety
inspection professionals keep the public safe from drug
trafficking, counterterrorism, human trafficking and other
hazardous threats. The company's innovative products, the
NIGHTHAWK-BTX™ (handled imager), FOXHOUND-HNA™ (trimodal
narcotics analyzer), OSPREY-UVX™ (vehicle scanners) and the
Pb200e™ (lead-paint analyzer), are recognized leaders in their
markets. Viken Detection is headquartered northwest of Boston, Massachusetts.
For more information, please visit us at
www.VikenDetection.com.
Forward-Looking
Statements
Statements included herein may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements other than statements of historical
facts included in this press release may constitute forward-looking
statements and are not guarantees of future performance, condition
or results and involve a number of risks and uncertainties. Actual
results may differ materially from those in the forward-looking
statements as a result of a number of factors, including those
described from time to time in the Company's filings with the
Securities and Exchange Commission. Horizon undertakes no duty to
update any forward-looking statement made herein. All
forward-looking statements speak only as of the date of this press
release.
Contacts:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
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SOURCE Horizon Technology Finance Corporation