FARMINGTON, Conn., Sept. 13, 2021 /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, along with lending partner Trinity
Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of debt
and equipment financing to growth stage companies, announced today
that they provided a $40 million
venture loan to Nexii Building Solutions Inc. ("Nexii"), a green
construction technology company focused on creating
environmentally-friendly, durable, cost-efficient and
disaster-resilient buildings.
Under the terms of the agreement, Horizon and a private
investment vehicle managed by Horizon Technology Finance Management
LLC, Horizon's advisor, provided Nexii with $22.5 million and $7.5
million, respectively, while Trinity provided $10 million. Nexii expects to use the loan
proceeds for general growth and working capital purposes.
"Nexii's advanced building solutions and environmentally
conscious construction materials and methods are bringing game
changing innovation to the construction industry, reducing project
build times and costs, while ensuring buildings are more efficient,
sustainable, and resilient to climate impacts," said Gerald A. Michaud, President of Horizon. "We are
excited to support Nexii as it seeks to further expand its market
share in the construction sector."
"We are proud to partner with the team at Nexii, whose mission
to build a vibrant future for the people and planet is combined
with a quantum leap in building technology," said Ron Kundich, Senior Managing Director of Trinity
Capital. "We're all aware of the ongoing effort to transition to a
zero-carbon economy, and Nexii's innovative approach positions them
at the forefront of sustainable buildings, which require fewer
resources, produce less waste, and use non-toxic materials for
healthier living."
"Two leading venture and growth stage lenders, Horizon and
Trinity, have come together to partner with Nexii, and we are so
thankful to have their support," said Stephen Sidwell, Co-founder and Chief Executive
Officer of Nexii. "With this funding, we are able to further expand
our project capacity, increase the speed of delivery for our
transformative green building solutions, and take a step forward
towards realizing our goal of having sustainable construction
technology in every sector of business and every area of the
world."
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.
Headquartered in Farmington,
Connecticut, Horizon also has regional offices in
Pleasanton, California and
Reston, Virginia. To learn more,
please visit horizontechfinance.com.
About Trinity Capital
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed
specialty lending company that has elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended, is a leading provider of debt, including loans
and equipment financing, to growth stage companies, including
venture-backed companies and companies with institutional equity
investors. Trinity's investment objective is to generate current
income and, to a lesser extent, capital appreciation through
investments consisting primarily of term loans and equipment
financings and, to a lesser extent, working capital loans, equity
and equity-related investments. Trinity believes it is one of only
a select group of specialty lenders that has the depth of
knowledge, experience, and track record in lending to growth stage
companies. Learn more at trincapinvestment.com.
About Nexii
Nexii Building Solutions Inc. (Nexii) is a green construction
technology company that is committed to building a vibrant future
for people and the planet. Nexii designs and manufactures
high-performance buildings and green building products that are
sustainable, cost-efficient and resilient in the face of climate
change. The Nexii System also significantly reduces construction
timelines, enabling the rapid development of green buildings across
North America. Nexii is suited for
industrial / commercial / institutional, mixed-use, multi-family
residential and single-family homes, as well as for the green
retrofit market. For more information, visit www.nexii.com, or
connect with us on Instagram (@NexiiBuilds), Twitter (@NexiiBuilds)
or on LinkedIn (Nexii Building Solutions).
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:
For Horizon Technology Finance:
Investor
Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
For Trinity Capital:
Vibhor
Garg
Director, Marketing
vgarg@trincapinvestment.com
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SOURCE Horizon Technology Finance Corporation