Daily News: April 9, 2015

Horizon Originates $23.9MM in Q1/15


Horizon Technology Finance provided a portfolio update for Q1/15.

“During the first quarter the credit quality of our portfolio companies remained strong and we experienced solid demand for our venture loan products,” said Gerald A. Michaud, president of Horizon. In an active venture lending environment, we achieved $23.9 million of originations and increased our liquidity position, which enhances our ability to capitalize on attractive high-quality loan opportunities. With our increased financial flexibility and strong pipeline, we believe we are positioned to grow our quality loan portfolio, while our warrant portfolio continues to expand and provide shareholders with upside potential.”

Horizon funded the following new loans in Q1/15:

  • $7 million to a new portfolio company, ScoreBig, Inc., a provider of an online marketplace for live event tickets
  • $5 million to a new portfolio company, NinePoint Medical, Inc., a developer of medical devices for advanced optical imaging
  • $2.5 million to an existing portfolio company, Avalanche Technology, Inc., a developer of next-generation storage products utilizing its proprietary Spin Programmable Memory technology
  • $2.5 million to an existing portfolio company, Sample6 Technologies, Inc., a developer of microbial monitoring technology for global food, healthcare and other industries
  • $2 million to a new portfolio company, eBureau, LLC, a provider of predictive analytics and information solutions
  • $2 million to a new portfolio company, a services and software solutions provider which helps districts and schools develop and implement personalized learning strategies
  • $1.25 million to an existing portfolio company, a healthcare information and services technology company focused on the sleep breathing disorders market.
  • $850,000 to an existing portfolio company, an advanced materials & imaging platform developer
  • $833,000 to an existing portfolio company, Luxtera, Inc., a developer of integrated silicon CMOS photonics

To read the entire press release, click here.