FARMINGTON, Conn. and
SAN MATEO, Calif., Jan. 3, 2018 /PRNewswire/ -- Horizon
Technology Finance Corporation (NASDAQ: HRZN) ("Horizon")
("Company"), 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 cleantech industries, announced today that it
closed a $15 million venture loan
facility to IntelePeer Cloud Communications LLC ("IntelePeer") on
December 18, 2017. Horizon funded an
initial $12 million of its commitment
under the facility.
IntelePeer is a leading provider of business communications
including cloud-based Unified Communications, cloud contact center,
and enterprise voice services. IntelePeer is backed by VantagePoint
Venture Partners, Kennet Partners and NorthCap Partners. IntelePeer
will use the proceeds for general working capital purposes.
"We are pleased to provide IntelePeer with this venture debt
financing," said Gerald A. Michaud,
President of Horizon. "The company's cloud-based technology allows
users to communicate via voice, videoconferencing, text, and other
media on their preferred devices and applications, including
Unified Communications solutions from Cisco and Genband. This loan
facility will support IntelePeer's continued growth as it brings
its cloud communications platform to the marketplace."
Frank Fawzi, CEO of IntelePeer,
stated, "Horizon's experienced team of lending experts structured a
financing solution designed to support our go-to-market strategy.
With this growth capital, IntelePeer will continue to grow its
customer base by reaching new end-users across multiple industries
and adding further channel partners to our growing industry
network."
About Horizon Technology Finance
Horizon Technology
Finance Corporation 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 cleantech 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. Headquartered in Farmington, Connecticut, Horizon has regional
offices in Pleasanton, California,
Reston, Virginia and Boston, Massachusetts. Horizon's common stock
trades on the NASDAQ Global Select Market under the ticker symbol
"HRZN". To learn more, please visit www.horizontechfinance.com.
About IntelePeer
IntelePeer has been a leading
provider of Voice Services since 2003. The company delivers
complete business communications solutions including full-service
cloud calling directly integrated with Cisco Spark unified
communications, complete cloud contact center, enterprise voice
services, and UC enablement for Internet carriers and hosting
companies. Visit www.intelepeer.com to learn more.
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 our 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.
Contact:
|
|
Horizon Technology
Finance
|
Investor Relations
and Media Contacts:
|
Daniel R.
Trolio
|
The IGB
Group
|
Chief Financial
Officer
|
Scott Eckstein / Leon
Berman
|
(860)
674-9977
|
(212) 477-8261 /
(212) 477-8438
|
dtrolio@horizontechfinance.com
|
seckstein@igbir.com /
lberman@igbir.com
|
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SOURCE Horizon Technology Finance Corporation