Horizon Technology Finance Closes $5.5 Million Venture Loan Facility to Lotame
FARMINGTON, Conn. and COLUMBIA, Md., March 26, 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 that it has closed a $5.5 million venture loan facility to Lotame Solutions, Inc. ("Lotame"), the leading data management platform for publishers, ad networks and marketers, to support the firm's continued growth.
With Horizon's financial support, Lotame plans to strengthen global initiatives across five continents, and make key hiring decisions to expand the sales, technology, and executive teams. These efforts are part of Lotame's marketing strategy aimed at boosting adoption of their data management technology platform on a worldwide scale.
"Lotame is an exciting company with a strong entrepreneurial spirit," stated Gerald A. Michaud, President of Horizon. "As Lotame continues to meet its strategic goals, we are pleased to provide the company with important growth capital to accelerate the sales and marketing of its innovative data management platform."
"We appreciate the support and confidence in Lotame shown by Horizon with its $5.5 million venture loan facility," said Andy Monfried, Founder & CEO of Lotame. "Horizon and its financing products came highly recommended to us, and its experienced team delivered a financing solution that provides us with the additional liquidity we need to execute our business plan and meet the strong and growing demand for our data management products and services."
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.
Lotame is the global leader in unifying data management, empowering innovative publishers, networks, and brands to unlock the full value of their audience data. Clients leverage Lotame's Unifying DMP, Crowd Control® to collect unstructured audience data from disparate sources anywhere, and organize it into one user friendly interface to convert that audience data into action, insights and intelligence everywhere. With Lotame, publishers, networks and brands can make informed decisions, build unique products and drive positive business outcomes from their data assets. For more information, visit www.lotame.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. 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