Horizon Technology Finance and Trinity Capital Provide Additional $20 Million Venture Loan to Nexii
Horizon Technology Finance Corporation (NASDAQ: HRZN) and Trinity Capital Inc. (NASDAQ: TRIN) have provided an additional $20 million venture loan to Nexii Building Solutions Inc., a green construction company. This follows previous loans totaling $40 million. The latest funding includes $10 million from Horizon and $5 million from a private investment vehicle managed by Horizon, alongside $5 million from Trinity. Nexii plans to utilize the funds for growth and working capital, including the construction of a U.S. manufacturing facility.
- Horizon and Trinity provided a total of $60 million in loans to Nexii, showcasing strong financial support.
- Nexii is positioned for growth with innovative green solutions, appealing to large global brands.
- None.
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 science, healthcare information and services, and sustainability industries, along with lending partner Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of debt and equipment financing to growth stage companies, announced today that they provided an additional
Under the terms of the agreement, Horizon and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's adviser, provided Nexii with
"Since our original commitment last year, Nexii has made significant strides within the construction industry through its innovative, efficient and environmentally conscious building solutions, positioning it well to further expand its operations," said Gerald A. Michaud, President of Horizon. "We are excited to add to our support of Nexii as it continues its strong growth trajectory."
"The Nexii team continues to make significant progress with their planet-friendly building solutions, and we are excited to increase our commitment to this rapidly growing company," said Ron Kundich, Chief Credit Officer of Trinity Capital.
"We are very thankful for Horizon and Trinity's continued partnership with Nexii," said Stephen Sidwell, Co-founder and Chief Executive Officer of Nexii. "Our revolutionary green building solutions are enabling us to win new projects with some of the largest global brands, and with Horizon and Trinity's expanded support, we are well situated for continued growth and deliver our sustainable construction technology worldwide."
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 science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Headquartered in Farmington, Connecticut, Horizon also has regional offices in Pleasanton, California and Reston, Virginia. To learn more, please 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 venture-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 financings and, to a lesser extent, working capital loans, equity and equity-related investments. Trinity believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience, and track record in lending to growth stage companies. Learn more at trincapinvestment.com.
About Nexii
Nexii Building Solutions Inc. (Nexii) designs and manufactures low carbon buildings and products to address the climate impact of our built environment. With buildings and construction responsible for
Forward-Looking Statements
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 the Company's 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.
Contacts:
For Horizon Technology Finance:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
For Trinity Capital:
Vibhor Garg
Managing Director, Marketing
vgarg@trincapinvestment.com
View original content:https://www.prnewswire.com/news-releases/horizon-technology-finance-and-trinity-capital-provide-additional-20-million-venture-loan-to-nexii-301585161.html
SOURCE Horizon Technology Finance Corporation
FAQ
What recent funding did Horizon and Trinity provide to Nexii?
What is Nexii's intended use for the recent loan?
What challenges might Horizon and Trinity face with their investment in Nexii?
