Horizon Technology Finance Closes $3 Million Venture Loan Facility to Razorsight
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.
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.
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.
SOURCE Horizon Technology Finance Corporation