SOURCE: Horizon Technology Finance Corporation
FARMINGTON, CT and RESTON, VA--(Marketwired - Aug 1, 2013) - 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 led a $6 million venture loan facility for Ekahau, Inc. ("Ekahau"), a provider of Wi-Fi-based Real-Time Location Systems (RTLS) which enables enterprises to locate, track and manage assets, inventory, staff and visitors.
Ekahau will use the funds for working capital purposes. Horizon funded an initial $1.5 million of its $3 million commitment under the venture loan facility.
"We are pleased to lead this venture loan facility for Ekahau which will support Ekahau's continued customer and revenue growth," stated Gerald A. Michaud, President of Horizon. "Ekahau's innovative technology platform delivers real-time location intelligence enabling a broad range of public and private sector enterprises to enhance their operational visibility and increase productivity."
Mark Norris, President and CEO of Ekahau stated, "We appreciate Horizon's support and confidence in Ekahau. Horizon provided growth capital that matched Ekahau's financing needs with an appropriate structure and attractive terms. We look forward to working with Horizon as we maintain our focus on driving growth in the healthcare, retail and education markets."
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 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, Horizon 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, Horizon'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.
Ekahau Inc. is the performance leader in providing Wi-Fi-based Real-Time Location Systems (RTLS). Ekahau RTLS with Ekahau Vision™ software and Wi-Fi-based active RFID tags give staff and managers unprecedented visibility into the location, condition and status of assets, people and workflows. Thousands of Fortune 500 companies, hospitals and other facilities rely on Ekahau's patented technology to reveal business intelligence that drives decision-making. Ekahau partners include leading wireless software developers, systems integrators and WLAN providers. Learn more about Business Intelligence Through Location at: www.ekahau.com or on the Ekahau Blog (http://ekahau.wordpress.com/), Facebook (http://www.facebook.com/ekahau), Twitter (https://twitter.com/ekahau) and LinkedIn (http://www.linkedin.com/company/ekahau/).
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.