FARMINGTON, Conn., July 12, 2022 /PRNewswire/ — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life sciences, health information and services industries, and of the sustainability industry, together with credit partner Trinity Capital Inc. (NASDAQ: TRIN) (“Trinity”), a leading provider of debt and equipment financing for growth-stage companies, announced today that it has secured additional 20 million dollars venture loan Nexii Building Solutions Inc. (“Nexii”), a green construction company that designs and manufactures low-carbon buildings and products. Horizon and Trinity were previously delivered 40 million dollars in risky loans for Nexii.
Under the terms of the agreement, Horizon and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon’s advisor, provided Nexia 10 million dollars and 5 million dollarsthat is, while Trinity provided 5 million dollars. Nexii expects to use the proceeds of the loan for general growth and working capital needs, including the construction of its new manufacturing facility in the US.
“Since our initial commitment last year, Nexii has made significant strides in the construction industry through its innovative, efficient and environmentally conscious construction solutions, positioning it well to further expand its operations,” they said. Gerald A. Michaud, president of Horizon. “We are excited to add our support to Nexii as it continues its strong growth trajectory.”
“The Nexii team continues to make significant progress with its planet-friendly building solutions, and we are excited to increase our commitment to this rapidly growing company,” he said. Ron KundichChief Credit Officer of Trinity Capital.
“We are very grateful for Horizon and Trinity’s continued partnership with Nexii,” he said Stephen Sidwell, Co-Founder and Chief Executive Officer of Nexii. “Our revolutionary green building solutions enable us to win new projects with some of the world’s biggest brands, and with the expanded support of Horizon and Trinity, we are well positioned to continue to grow and deliver our sustainable building technology around the world.”
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life sciences, health information and services, and sustainability industries. Horizon’s investment objective is to maximize the return of its investment portfolio by generating current income from the debt investments it makes and capital increases from the warrants it receives when making such debt investments. Based in Farmington, ConnecticutHorizon also has regional offices in Pleasanton, California and Reston, Virginia. To learn more, visit horizontechfinance.com.
About Trinity Capital
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed specialty lending company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, is a leading provider of debt, including loans and equipment financing, to growth stage companies, including backed companies and companies with institutional equity investors. Trinity’s investment objective is to generate current income and, to a lesser extent, capital appreciation through investments consisting primarily of term loans and equipment financing and, to a lesser extent, working capital loans, equity and equity investments. Trinity believes it is only one of a select group of specialist lenders who have the depth of knowledge, experience and expertise in lending to growth stage companies. Learn more at trincapinvestment.com.
Nexii Building Solutions Inc. (Nexii) designs and manufactures low-carbon buildings and products to address the climate impacts of our built environment. Since buildings and construction are responsible for 36% of global energy consumption and 37% of greenhouse gas emissions annually, sustainable and scalable solutions for buildings with net zero carbon emissions are urgently needed. With Nexii’s revolutionary Nexiite material, Nexii enables rapid assembly of high-quality buildings and infrastructure with end-to-end reduced carbon emissions, near-zero waste and less community disruption. Sustainability is at the heart of Nexii’s mission to build a vibrant future for people and the planet. For more information, visit www.nexii.com or connect with us on Instagram (@NexiiBuilds), Twitter (@NexiiBuilds) or LinkedIn (Nexii Building Solutions).
Statements included in this document may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact 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 the Company’s filings with the Securities and Exchange Commission. Horizon undertakes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this release.
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SOURCE Horizon Technology Finance Corporation