FARMINGTON, Conn., May 24, 2023
/PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ:
HRZN) ("Horizon" or the "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 sustainability industries,
today announced that Horizon Secured Loan Fund I LLC, Horizon's
wholly-owned subsidiary ("HSLF"), has amended its senior secured
debt facility with a large U.S. based insurance company. Under the
amended agreement, the commitment to HSLF has increased by
$50 million, allowing HSLF to issue
up to $250 million of secured notes,
of which HSLF currently has outstanding $177
million.
The amendment to the credit facility also extends the investment
period to June 2024. In addition, the
amendment, among other things, changes the pricing structure for
future borrowings to the three-year I-curve rate plus 3.50%. The
facility is collateralized by the assets of HSLF, which consist of
cash and debt investments.
"We are pleased to further expand our borrowing capacity, which
increases our ability to provide quality companies with venture
debt solutions and allows us to thoughtfully grow our venture debt
portfolio," said Daniel R. Trolio,
Executive Vice President and Chief Financial Officer of Horizon.
"The continued support of our lenders is a testament to our
discipline with respect to underwriting and our focused efforts to
strengthen our balance sheet. We believe Horizon remains
well-positioned to deliver additional value to its
shareholders."
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 HRZN 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 Technology Finance Management LLC is headquartered in
Farmington, Connecticut, with a
regional office in Pleasanton,
California, and investment professionals located in
Portland, Maine, Austin, Texas, and Reston, Virginia. To learn more, please visit
www.horizontechfinance.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
View original
content:https://www.prnewswire.com/news-releases/horizon-technology-finance-strengthens-capital-resources-and-increases-capacity-of-credit-facility-to-250-million-301833998.html
SOURCE Horizon Technology Finance Corporation