Horizon Technology Finance Leads $10 Million Venture Loan to Aerobiotix

Rhea-AI Summary

On March 15, 2022, Horizon Technology Finance Corporation (NASDAQ: HRZN) announced the closure of a $10 million venture loan facility to Aerobiotix, LLC, with Horizon providing $5 million. Aerobiotix specializes in air disinfection systems for healthcare facilities, utilizing ultraviolet technology to eliminate airborne pathogens. The funds will support Aerobiotix's growth and working capital. Horizon's president emphasized the importance of Aerobiotix's technology in improving health outcomes. The investment aligns with Horizon's strategy of backing innovative companies in various sectors.

Positive

• Horizon provided a total of $10 million in secured loans to Aerobiotix, promoting business growth.
• Aerobiotix operates in a high-demand market focused on reducing healthcare-acquired infections.
• The investment supports the development of innovative air quality management solutions.

Negative

• None.

FARMINGTON, Conn., March 15, 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, announced today it closed a $10 million venture loan facility to Aerobiotix, LLC ("Aerobiotix"), of which Horizon funded $5 million, and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's adviser, funded $5 million.

Aerobiotix manufactures air disinfection systems for medical, healthcare and community facilities that eliminate airborne pathogens to optimize indoor air quality. Utilizing a proprietary ultraviolet photolytic chamber, Aerobiotix's Illuvia® air disinfection system breaks the DNA codes of pathogens and prevent healthcare-acquired infections that can cause major complications in patients.  Prominent investors in Aerobiotix include Vivo Capital and Asahi Kasei Corporate Venture Capital, and Aerobiotix will use the loan proceeds for general growth and working capital purposes.

"Aerobiotix has developed a needed solution to prevent healthcare-acquired infections, leading to optimal outcomes for both patients and hospitals," said Gerald A. Michaud, President of Horizon. "Along with focusing on healthcare-oriented facilities, Aerobiotix's proprietary offerings can also be purposed for many other markets, including schools, high-density residential and commercial office buildings. We are pleased to support Aerobiotix's mission and to assist in Aerobiotix's continued growth."

"We are thrilled with Horizon's support as we continue to meet a surging demand in healthcare and hospitals for transformational air quality technology," said David Kirschman, MD, Aerobiotix founder and Chief Executive Officer. "Aerobiotix's innovative devices are already being used in over 170 healthcare locations, improving patient and staff safety on a daily basis and helping to reduce unnecessary expenses for both patients and hospitals. We look forward to utilizing Horizon's support to further expand our market share and develop additional indoor air quality solutions."

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 HRZN 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. Horizon Technology Finance Management LLC is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Portland, Maine, Austin, Texas, and Reston, Virginia. To learn more, please visit www.horizontechfinance.com.   

About Aerobiotix 

Aerobiotix is a pioneer in air quality management solutions for healthcare, assisted living, and education. Its medical-grade products use ultraviolet light, HEPA filters, and proprietary filtration to remove 99.9% of bacteria, viruses, VOCs, and more. This proven technology is quiet, safe, and designed to run continuously in occupied rooms to reduce risk of infections and to improve environmental safety. Equipped with integrated tracking, Aerobiotix solutions help facilities worldwide measure and proactively manage air quality. Learn more at www.aerobiotix.com.

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:

Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450

Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com   
(646) 677-1819

View original content:https://www.prnewswire.com/news-releases/horizon-technology-finance-leads-10-million-venture-loan-to-aerobiotix-301502775.html

SOURCE Horizon Technology Finance Corporation

FAQ

What recent investment did Horizon Technology Finance make?

Horizon Technology Finance recently closed a $10 million venture loan facility to Aerobiotix.

How much of the $10 million loan facility did Horizon fund?

Horizon funded $5 million of the $10 million loan facility to Aerobiotix.

What is Aerobiotix's primary product?

Aerobiotix manufactures air disinfection systems that utilize ultraviolet light to eliminate airborne pathogens.

What will Aerobiotix use the loan proceeds for?

Aerobiotix will use the loan proceeds for general growth and working capital purposes.

What sectors does Horizon Technology Finance focus on?

Horizon focuses on technology, life science, healthcare information and services, and sustainability industries.