FARMINGTON, CT and HOUSTON, TX , United States, via ETELIGIS INC., 12/08/2014 – – 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 cleantech industries, today announced it has closed a $5 million venture loan facility to Additech, Inc. (“Additech”), a technology company that designs, builds and operates a unique at-the-pump automobile engine maintenance system. Additech will use the funds for working capital purposes.
“We are pleased to provide this $5 million venture debt facility to Additech, an innovative technology company that operates a patented software and hardware retail delivery system enabling drivers to choose and access fuel additives at-the-pump,” stated Gerald A. Michaud, President of Horizon. “Additech’s high volume retail customer relationships, considerable technology capabilities and predictable business model make them a compelling addition to Horizon’s dynamic loan portfolio.”
Paula Schmitz, President, CEO and General Counsel of Additech, stated, “Horizon’s venture loan provides us the financial flexibility to build on our strong technology capabilities and expand our solid customer base. As a leading provider of growth capital, Horizon delivered the value-added financial backing that will greatly support our expansion strategy and working capital requirements.”
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 total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. Headquartered in Farmington, Connecticut, Horizon has regional offices in Walnut Creek, California and Reston, Virginia. Horizon’s common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechnologyfinancecorp.com.
Additech, Inc., based in Houston, Texas, provides consumers with a proprietary and automated system for cleaning and maintaining their vehicle’s fuel systems – right at the gas pump. A clean fuel system can lead to better gas mileage, a car that lasts longer, and reduced levels of emissions harmful to the environment. Learn more about Additech’s products at www.additech.com.
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.
Horizon Technology Finance
Christopher M. Mathieu
Chief Financial Officer
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The IGB Group
SOURCE: Horizon Technology Finance Corporation