FARMINGTON, Conn., Oct. 2, 2013 (GLOBE NEWSWIRE) -- 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 provided a portfolio update for the third quarter of 2013.
"Our investment activity during the third quarter reflects management's disciplined approach to capitalizing on high-quality venture debt opportunities within our target markets," said Gerald A. Michaud, President of Horizon. "We are pleased to continue our success in providing important growth capital for well-sponsored technology companies. Management remains committed to deploying capital efficiently and profitably into a diverse mix of earning assets while maintaining the potential for upside returns from warrant gains."
New Loans FundedNew loans funded during the third quarter of 2013 totaled approximately $11.5 million. During the third quarter of 2013, Horizon provided funding to the following new and existing portfolio companies:
- $2.0 million to a new portfolio company, eASIC Corporation, a fabless semiconductor company offering breakthrough ASIC devices that reduce the overall fabrication cost and time-to-production of customized semiconductor devices.
- $1.5 million to a new portfolio company, Ekahau Inc., a provider of RFID-over-Wi-Fi™ Real-Time Location Systems which enables enterprises to locate, track and manage assets, inventory, staff and visitors.
- $1.5 million to an existing portfolio company, Lotame Solutions, Inc., the leading data management platform for publishers, ad networks and marketers.
- $2.0 million to an existing portfolio company, NexPlanar Corporation, a developer of next generation chemical mechanical planarization (CMP) pads for the semiconductor device industry.
- $3.0 million to a new portfolio company, Tryton Medical, Inc., a leading developer of stents designed to treat bifurcation lesions.
- $1.5 million to an existing portfolio company, a provider of cloud-based financial assurance and predictive analytics solutions for communications service providers.