FARMINGTON, Conn. and
RESTON, Va., April 11, 2013 /PRNewswire/ -- Horizon
Technology Finance Corporation (Nasdaq: HRZN) ("Horizon"), a
leading specialty finance company that provides secured loans to
venture capital and private equity backed development-stage
companies in the technology, life science, healthcare information
and services, and clean-tech industries, today announced it has
closed a $3 million venture loan
facility with Razorsight Corporation ("Razorsight"), a provider of
cloud-based financial assurance and predictive analytics solutions
for communications service providers. The proceeds of the venture
loan facility will be used to support the company's continued
growth.
"Razorsight is a pioneer in cloud-based business intelligence
and analytics solutions," stated Gerald A.
Michaud, President of Horizon. "The company's platform
technology has helped its customers capture valuable marketing
information and increase operating efficiencies. We are pleased to
provide Razorsight with a venture loan facility, which will enhance
the company's ability to maintain its strong market momentum on a
global basis."
Brandon Thorne, Vice President
Finance of Razorsight, stated, "The growth capital with attractive
terms provided by Horizon will support our ongoing development and
commercial efforts. Horizon created a customized financial solution
ideally tailored to our expansion plans. We look forward to working
with the Horizon team as we continue to deliver highly
differentiated cloud-based services for our leading customers and
continue our global expansion."
About Horizon Technology Finance
Horizon Technology Finance Corporation is a business development
company that provides secured loans to development-stage companies
backed by established venture capital and private equity firms
within the technology, life science, healthcare information and
services, and clean-tech industries. The investment objective of
Horizon Technology Finance is to maximize total risk-adjusted
returns by generating current income from a portfolio of directly
originated secured loans as well as capital appreciation from
warrants to purchase the equity of portfolio companies.
Headquartered in Farmington,
Connecticut, with regional offices in Walnut Creek, California and Reston, Virginia, the Company is externally
managed by its investment advisor, Horizon Technology Finance
Management LLC. Horizon's common stock trades on the NASDAQ Global
Select Market under the ticker symbol, "HRZN." In addition, the
Company's 7.375% Senior Notes due 2019 trade on the New York Stock
Exchange under the ticker symbol "HTF." To learn more, please visit
www.horizontechnologyfinancecorp.com.
About Razorsight
Razorsight's cloud-based analytics software is used by the
world's largest communications providers to improve profits.
Razorsight monitors network and subscriber activities to control
costs, predict churn, gain insight into M2M and OTT activity, and
measure profitability by customer, service type, or region.
Customers benefit from unlocking key strategic insights to increase
customer acquisition, CLV and profit. Razorsight's highly scalable,
cloud applications are non-intrusive, easy to install, require no
capital investment, and have delivered millions of dollars in
profitability gains at industry leaders including AT&T,
Verizon, Telus, Comcast, Cbeyond, CenturyLink, Windstream,
T-Mobile, Telekomunikacja Polska (TP Group), Tata and IBM.
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. The Company 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:
|
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Horizon
Technology Finance Corporation
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Investor
Relations and Media Contacts:
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Christopher M. Mathieu
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The IGB
Group
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Chief
Financial Officer
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Leon
Berman / Michael Cimini
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(860)
676-8653
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(212)
477-8438 / (212) 477-8261
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chris@horizontechfinance.com
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lberman@igbir.com / mcimini@igbir.com
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SOURCE Horizon Technology Finance Corporation