Horizon Technology Provides Venture Loan to NexPlanar
Horizon Technology Finance announced it provided a $5 million venture loan facility to NexPlanar, a developer of chemical mechanical planarization (CMP) pads used by semiconductor manufacturers. The funds provided under the venture loan facility will be used for working capital purposes.
“We are pleased to provide this debt facility to NexPlanar as we continue to take advantage of attractive lending opportunities to well-sponsored technology companies,” stated Gerald A. Michaud, president of Horizon. “NexPlanar has experienced considerable growth by developing a proprietary technology that improves the quality of chips and the yield obtained by their customers. Our venture loan, combined with NexPlanar’s recent equity financing, puts NexPlanar in a strong position to meet the demand from semiconductor manufacturers for its advanced products and continue to expand globally.”