FARMINGTON, Conn. and WASHINGTON, July 10, 2018 /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 cleantech industries, announced today it has led a $15 million loan facility for New Signature US, Inc. ("New Signature"), of which an initial $11 million of the commitment funded under the facility.
New Signature is a cloud-first, full-service Microsoft partner and consultancy that delivers professional and managed services to a global client base. The company serves clients in a variety of industries including media, financial, retail, government, health and life sciences and manufacturing. New Signature is backed by Columbia Capital, a private equity firm based in Alexandria, VA. New Signature will use the proceeds as strategic investment to fuel organic growth across the business.
"New Signature represents a strong addition to our portfolio of growth-oriented technology companies," said Gerald A. Michaud, President of Horizon. "With its innovative, award-winning professional and managed services, New Signature solves complex challenges facing today's workforce. Horizon's loan will allow the company to continue to build advanced solutions that help organizations grow and thrive."
Jeff Tench, CEO of New Signature, stated, "We are excited to partner with Horizon as they have effectively structured a financing solution that fit our specific needs. With a vision to empower our customers, colleagues and communities to achieve their potential, we know that staying at the forefront of technology advancement is the key to transformation. The growth capital provided by Horizon will ensure that we continue to innovate, transform and differentiate our business as well as that of our clients."
About Horizon Technology Finance
Horizon Technology Finance Corporation 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 cleantech 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 has regional offices in Pleasanton, California, Reston, Virginia and Boston, Massachusetts. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechfinance.com.
About New Signature
New Signature is a cloud-first, full service Microsoft partner committed to delivering innovative technology solutions that solve human challenges. Behind every interaction is the company's dedication to provide outstanding experiences and to build authentic relationships with those around it. New Signature is passionate about driving transformational results for clients across all company sizes, geographies and industries. The New Signature team delivers full lifecycle solutions—from project inception and planning, through deployment to ongoing support and maintenance. New Signature was named the top Microsoft partner in the United States and the United Kingdom in 2014 and again in the United States in 2015—becoming the first partner ever to win the prestigious US Partner of the Year award two years in a row. With over 600 individual technology certifications, New Signature is a recognized expert at the forefront of Microsoft advancements and couples these powerful technologies with exceptional services to empower our customers, colleagues, and community. To learn more, please visit https://newsignature.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.
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SOURCE Horizon Technology Finance Corporation