Horizon Technology Finance Provides Venture Loan for Social Intelligence
FARMINGTON, Conn. and SANTA BARBARA, Calif., June 2, 2014-- 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 cleantech industries, announced today it has closed a venture loan for Social Intelligence Corp. ("Social Intelligence"), a provider of social media data, tools and reports to commercial and government organizations. Social Intelligence will use the funds to support its continued growth.
"We are pleased to add Social Intelligence to our diversified venture loan portfolio," stated Gerald A. Michaud, President of Horizon. "Social Intelligence has developed a comprehensive suite of social media solutions for a wide range of end-markets, enabling its customers to reduce costs and improve workplace safety. With this venture loan, Social Intelligence has strengthened its ability to meet the demand for the company's product and services and drive future growth."
Max Drucker, CEO & President of Social Intelligence, stated, "Horizon provided Social Intelligence with a customized financing solution that accelerates our long-term growth potential. We value the support shown by Horizon, a leader in the venture lending industry, and intend to utilize our additional liquidity to penetrate new markets and maintain our strong growth trajectory."
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 cleantech industries. The investment objective of Horizon is to maximize total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. 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.
About Social Intelligence
Social Intelligence Corp. provides social media data, tools, and reports to commercial and Government organizations. Headquartered in Santa Barbara, Calif., the company has developed a unique suite of products including employment background screenings, insurance claims investigations, corporate due diligence, and Government services. The company offers SaaS based search tools, predictive scoring algorithms, and proprietary data to deliver unparalleled solutions to reduce costs and keep companies and people safe. Social Intelligence adheres to the guidelines of the Fair Credit Reporting Act (FCRA) and is compliant with Federal and State law.
Our team comes from the software, insurance, government services, and employment industries, and the Founders have worked with each other for more than 10 years. Social Intelligence was created to provide companies and governmental organizations publicly available online information, while ensuring this data is used appropriately and legally. With a dynamic group of more than 50 employees and quickly growing, our focus is on privacy, productivity, and community involvement above everything else. For more information, visit www.socialintel.com.
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.
Horizon Technology Finance Corporation
Christopher M. Mathieu
Chief Financial Officer
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